黄金，突发跳水！上期所出手！

Core Viewpoint - The significant drop in precious metal prices, including gold and silver, is primarily attributed to profit-taking by investors as the year-end approaches, leading to increased volatility in thin trading conditions [6]. Group 1: Price Movements - On December 29, COMEX gold futures fell by 4.46%, while COMEX silver futures dropped by 7.25%. Spot gold decreased by over 4%, and spot silver fell nearly 9% [1]. - As of December 30, spot gold saw a slight increase of 0.65%, priced at $4,359.985 per ounce, while COMEX gold futures rose by 0.79% [1][2]. Group 2: Market Reactions - Domestic gold jewelry prices were adjusted downward, with brands like Chow Sang Sang reporting a decrease of 53 yuan per gram, and Lao Feng Xiang down by 45 yuan per gram [6]. - The Chicago Mercantile Exchange announced an increase in margin requirements for metal futures, with gold futures margin up by 10% and silver futures by approximately 13.6% [6][7]. Group 3: Analyst Insights - Analysts indicate that the short-term risks in precious metal trading have increased significantly, with profit-taking pressures evident after recent price highs [6]. - Historical patterns show that raising margin requirements often leads to significant price corrections, as seen in past instances where silver prices dropped nearly 30% following similar margin hikes [9]. - The current market for silver is viewed as structurally scarce, but short-term price corrections are anticipated due to high volatility and profit-taking behavior [10].