黄金日内暴跌逾400美元，白银盘中下破95关口，贵金属短期保值属性被证伪？

Core Viewpoint - The recent surge in precious metal prices, particularly gold, has come to a halt due to various factors, including the potential nomination of Kevin Warsh as the Federal Reserve Chairman, which is seen as supportive of the US dollar [2][3]. Group 1: Market Dynamics - Spot gold prices fell below $5,000 per ounce, experiencing a significant drop of over $400 in a single day, marking a decline of nearly $600 from the recent historical high, with a daily drop exceeding 7% [1]. - The price of silver also faced a decline, briefly falling below $95 per ounce before a slight rebound [1]. Group 2: Analyst Insights - Christopher Wong from OCBC Bank noted that the volatility in gold prices reflects a "boom and bust" narrative, indicating that while the news of Warsh's nomination triggered the sell-off, a correction was already anticipated [3]. - Technical indicators, such as the Relative Strength Index (RSI), suggested that both gold and silver were overbought, with gold's RSI reaching 90, the highest level in decades [3]. Group 3: Economic Context - The attractiveness of gold is closely tied to its perception as a "safe-haven asset" and an "inflation hedge," particularly in light of rising government debt and uncertainties surrounding interest rates and inflation [4]. - The Trump administration's aggressive policies have heightened concerns about the US economy, leading to a trend of "selling America" among some investors [4]. Group 4: Investment Behavior - Investors are increasingly diversifying away from US dollar assets, viewing gold as a preferred option in their portfolios amid fears of economic instability [4]. - Simon Popple from Brookville Capital highlighted that the perception of US Treasury bonds as nearly risk-free has changed, prompting a more cautious approach to capital allocation [5]. Group 5: Market Sentiment - The recent price movements in gold have sparked a buying frenzy among investors, driven by market trends and heightened interest in volatile assets [5]. - Chris Beauchamp from IG Group emphasized that despite gold's favorable investment attributes, its ability to preserve value is often overestimated, particularly in the short term [5][6].