金价“先扬后抑”，原因找到了！

Core Viewpoint - International gold prices continue to experience fluctuations following a significant drop last Friday, with current prices showing a slight decline and key support levels being tested [1][4]. Price Movements - As of the latest report, London gold is down 0.12% at $4,077.31 per ounce, with intraday lows dipping below $4,050 per ounce [1][2]. - COMEX gold futures also saw a decline of 0.32%, trading at $4,081.20 per ounce, with a minimum price of $4,051.10 during the session [2][3]. Market Influences - The primary factor for the recent gold price correction is the sharp decline in expectations for a Federal Reserve interest rate cut, with market probabilities for a December cut dropping from over 90% to below 50% [3][4]. - A strengthening U.S. dollar has increased the cost of gold for non-U.S. investors, further impacting demand [3][4]. - Easing geopolitical tensions have led to a withdrawal of some safe-haven investments from the gold market [3][4]. Future Outlook - Short-term expectations indicate high volatility and a potential trading range around the psychological level of $4,000 per ounce, with market participants focused on Federal Reserve policy and economic data [4]. - Long-term bullish sentiment remains intact, supported by ongoing central bank gold purchases and concerns over U.S. debt impacting dollar credibility [4]. - Analysts suggest that the recent volatility is a normal correction following historical highs, with expectations for a rebound once stabilization occurs [4].