金价可能大跌开始了，26年1月4日黄金跌价

Core Viewpoint - The recent decline in gold prices, with international gold dropping to $4348.8 per ounce, reflects a market correction after a significant rise, indicating volatility in the gold market and investor behavior [1][2][3]. Price Movements - International gold prices fell from a peak of $4530 on December 28 to $4348.8, while domestic gold prices decreased to 977.7 yuan per gram, with significant fluctuations observed in trading [1][2]. - The price of Au9999 gold bars on the Shanghai Gold Exchange dropped to 976 yuan per gram, with intraday lows below 960 yuan, indicating a notable price volatility [1]. - Major gold retailers show a wide price range, with wholesale prices around 1140 yuan per gram, while branded stores like Chow Tai Fook and Lao Feng Xiang are selling at prices above 1350 yuan per gram [1]. Market Dynamics - The decline in gold prices is attributed to profit-taking by investors after a strong rally, combined with low trading volumes during the holiday period, leading to increased selling pressure [2]. - The recovery market for 9999 gold has seen a drop in buyback prices to 965 yuan per gram, reflecting a quick response to the falling market [2]. Technical Analysis - The $4300 mark is identified as a critical support level for gold prices, with analysts noting that if this level is breached, further declines could occur, while resistance is noted around $4400 [2]. - The market is currently anticipating potential interest rate cuts from the Federal Reserve, which could influence future price movements [2]. Fundamental Factors - Despite the recent price drop, the fundamental factors supporting gold prices remain intact, including ongoing purchases by global central banks and geopolitical tensions [3]. - China has reportedly increased its gold reserves for 13 consecutive months, now holding over 2300 tons, indicating strong demand for gold as a safe-haven asset [3]. Investment Trends - Gold ETFs are gaining popularity due to their convenience and lower fees compared to physical gold, making them an attractive option for long-term investment [5]. - The market shows a mix of investor sentiment, with some individuals benefiting from previous purchases while others are holding onto assets bought at higher prices [5][6].