金银价格，下行压力加剧

Group 1 - Gold and silver prices are under increasing downward pressure, with spot gold dropping to a low of $4,900 per ounce and currently priced at $4,941.04 per ounce, down 1.00% for the day [1][8] - Spot silver has experienced multiple fluctuations, currently priced at $75.06 per ounce, down 2.04% for the day [1][8] - COMEX gold futures are reported at $4,958.3 per ounce, down 1.74%, while COMEX silver futures are at $74.93 per ounce, down 3.89% [1][8] Group 2 - The global precious metals market is experiencing low trading volumes due to traditional holiday market closures, with gold facing resistance at the psychological level of $5,000 per ounce amid reduced expectations for Federal Reserve interest rate cuts [5][12] - Despite the decline in international gold prices, several gold jewelry brands have reported prices exceeding 1,500 yuan per gram for their products [5][12] - Specific prices for gold jewelry include 1,515 yuan per gram for Lao Miao, 1,520 yuan for Chow Sang Sang, and 1,536 yuan for China Gold [6][13] Group 3 - The recent volatility in gold and silver prices follows a significant increase earlier in the year, with silver nearly retracing all gains made since January 2026 [6][13] - The precious metals trading firm Heraeus has indicated that after reaching a high of nearly $5,600 per ounce, gold has recently rebounded to around $5,000 per ounce, with expected short-term fluctuations between $4,800 and $5,200 per ounce [6][13] - Silver is also affected by expectations of balance sheet reduction, with its price expected to fluctuate between $65 and $100 per ounce, despite ongoing tightness in physical inventory [7][14]