深夜惊魂！贵金属狂泻美股小金属崩盘，3大杀招引爆市场

Core Viewpoint - The financial market experienced significant volatility, with precious metals like gold and silver witnessing sharp declines after a period of rapid price increases, leading to a broader sell-off in related stocks and indices [1] Group 1: Market Reactions - Gold futures on COMEX fell by 4.45% to $4,350.2 per ounce, while silver futures dropped by 7.2% to $71.64 per ounce, with London spot silver seeing a decline nearing 9% [1] - In the U.S. stock market, Harmony Gold fell over 8%, and Pan American Silver dropped by 5.7%, contributing to slight declines in the Dow and Nasdaq indices [1] Group 2: Margin Requirements - The Chicago Mercantile Exchange announced an increase in trading margin requirements for precious metals, with silver margins raised by 13.6%, gold by 10%, and platinum by 23% [3] - This increase in margin requirements is seen as a measure to curb excessive speculation in the market, forcing leveraged investors to either add cash or liquidate positions, leading to a chain reaction of selling [3] Group 3: Federal Reserve's Stance - Recent hawkish comments from multiple Federal Reserve officials indicated a strong opposition to early interest rate cuts, with expectations of a rate cut in early 2026 dropping from 70% to 47% [4] - The Fed's stance has increased the opportunity cost of holding non-yielding assets like gold and silver, further pressuring their prices as the dollar strengthens [4] Group 4: Decrease in Safe-Haven Demand - The recent decline in geopolitical tensions, particularly regarding the Russia-Ukraine conflict and U.S.-China trade relations, has led to a reduction in safe-haven demand for precious metals [5] - Additionally, significant profits accumulated from the previous price surge have prompted many investors to lock in gains, exacerbating the sell-off during market panic [5] Group 5: Future Market Outlook - Analysts are divided on the future of precious metals, with UBS warning that silver could drop to $42 per ounce by the end of 2026, while CITIC Construction believes that the fundamentals remain strong due to tight supply and robust industrial demand [5]