刚刚！黄金，大跳水！

Core Viewpoint - The article discusses the recent significant drop in gold prices after reaching a new high, attributing the volatility to various market factors including profit-taking and geopolitical concerns [1][5]. Group 1: Market Dynamics - On September 30, after the A-share market closed, spot gold prices experienced a sharp decline, initially rising over 1% to a new high of $3,871 per ounce before falling approximately 0.8% to around $3,800 per ounce [1]. - The drop in gold prices was influenced by profit-taking at the end of the month, with speculation that Chinese traders were reducing positions ahead of the October holiday [5]. - The deadlock in Washington regarding government funding has heightened concerns about a government shutdown, which could impede the release of key economic data, further affecting investor sentiment [5]. Group 2: Future Outlook - Gold has seen a cumulative increase of about 45% this year, potentially marking the largest annual gain since 1979 [5]. - UBS forecasts a bullish scenario for the gold market, predicting prices will rise to $4,200 per ounce by mid-2026, supported by factors such as a weaker dollar, significant central bank purchases, and increased ETF investments [6]. - UBS recommends a 5% allocation of gold in investment portfolios, highlighting its low correlation with stocks and bonds, making it a useful hedge against inflation and geopolitical risks [6].