金价、银价，突然跳水

Core Viewpoint - The precious metals market has experienced a significant decline, with gold and silver prices dropping sharply, while the outlook for gold remains optimistic due to strong demand factors and macroeconomic conditions [1][3][4]. Precious Metals Market Performance - As of November 14, gold spot prices fell by 2.69% to $4058.79 per ounce, while COMEX gold dropped by 3.24% to $4058.6 per ounce. Silver spot prices decreased by 3.35% to $50.536 per ounce, with COMEX silver down by 5.28% to $50.365 per ounce [1][2]. - Other precious metals also saw declines, with platinum and palladium prices dropping over 2% and 3% respectively [1][2]. Global Gold Demand Trends - The World Gold Council reported that global gold demand reached a record high of 1313 tons in Q3 2025, with a total value of $146 billion [2]. - Investment in physical gold ETFs has surged, with an increase of 222 tons in Q3 alone, totaling $260 billion in inflows for the first three quarters of 2025 [3]. Market Outlook and Influencing Factors - Louise Street, a senior market analyst at the World Gold Council, highlighted that geopolitical tensions, persistent inflation, and uncertainty in global trade policies are driving demand for gold as a safe-haven asset [3]. - The ongoing weakness of the US dollar, expectations of interest rate cuts, and risks of stagflation are expected to further support gold investment demand [3]. - Citic Securities noted that in a liquidity easing environment, continued inflows into ETFs will be a crucial support for precious metal prices, with a long-term bullish outlook for gold and silver [4].