深夜无眠，黄金突遭 “血崩”，原因找到了

Core Viewpoint - The article discusses the recent significant decline in precious metals, particularly gold and silver, due to multiple factors including geopolitical developments, a strong dollar, and market uncertainties [5][6][7]. Group 1: Market Performance - On the US stock market, the Dow Jones Industrial Average rose by 0.47%, reaching a historical high, while the S&P 500 remained flat and the Nasdaq fell by 0.16% [1]. - Notable movements included a 15% increase in General Motors, marking its best single-day performance in five years, while major tech stocks showed mixed results [1]. - The Nasdaq Golden Dragon China Index fell by 0.97%, with most popular Chinese stocks declining, including Alibaba down nearly 4% and JD.com down nearly 3% [1]. Group 2: Precious Metals Decline - Gold experienced a significant drop, with a daily decline of 6.3%, marking the largest single-day drop since April 2013, closing at $4130.41 per ounce [1]. - Silver also saw a sharp decline, with a nearly 8.7% drop, the largest intraday decline since February 2021 [3]. Group 3: Contributing Factors - The decline in precious metals was influenced by changing geopolitical dynamics, particularly the easing of tensions in the Russia-Ukraine conflict, which reduced the demand for gold as a safe-haven asset [6]. - A stronger dollar and technical indicators showing overbought conditions, along with opaque investor positions, further pressured precious metal prices [7]. - The end of the seasonal gold buying in India added to the selling pressure in the market [7]. Group 4: Analyst Perspectives - Analysts have differing views on the recent precious metals sell-off and future trends, with some warning of potential corrections due to accumulated speculative long positions [8]. - Despite signs of overextension, some analysts noted that demand for gold remains strong, with a cumulative increase of over 65% since 2025 [8]. - Bloomberg strategists indicated that while current ETF gold holdings are not at historical peaks, the underlying factors supporting gold prices have not changed, suggesting potential for continued upward movement [9].