金价、银价下跌，金融圈人士直言：有人在出货

Core Viewpoint - The precious metals market is experiencing significant volatility, with gold, silver, and platinum prices declining sharply after a period of substantial gains, driven by profit-taking and reduced geopolitical risks [6][7][11]. Price Movements - Gold prices fell by 1.50%, dropping below $4300 per ounce, while silver saw a decline of over 7%, currently down by 5.02% [1][3]. - The main silver futures contract dropped over 5%, currently at 17074 yuan per kilogram, while platinum futures fell by 14%, now priced at 527.25 yuan per gram [3]. Market Dynamics - The recent surge in precious metal prices, particularly silver, saw it rise from around $50 to over $80 per ounce, with a monthly increase of approximately 150% [6]. - As of last week, gold had increased by about 70% for the year, while silver's rise exceeded 150%, with other metals like platinum and palladium also seeing gains over 100% [6]. Factors Influencing Price Changes - The decline in precious metal prices is attributed to profit-taking after previous gains, reduced geopolitical risks, and increased margin requirements by major exchanges [7][8]. - Financial institutions are under pressure to settle accounts as the year-end approaches, leading to selling at high prices, which has put downward pressure on prices [7]. Future Outlook - Short-term volatility in precious metals is expected to continue, with silver and platinum facing larger adjustments due to liquidity constraints [8]. - Long-term prospects remain positive, with expectations of continued demand from central banks and a potential shift to a "weak dollar" environment supporting prices [9][10]. Central Bank Activity - Central banks are projected to significantly increase gold purchases, with estimates suggesting an average monthly purchase of 70 tons by 2026, compared to 17 tons before 2022 [9]. - Emerging market central banks are strategically increasing their gold reserves, indicating a strong demand for gold [9]. Market Sentiment - The precious metals market is increasingly influenced by investor sentiment and liquidity, with emotional factors becoming critical in price determination [12]. - The market is experiencing a "bungee jump" effect, reflecting rapid price fluctuations that investors should be cautious of [11][12].