金价跌破4000美元，较高点已跌9%，业内欢迎"健康回调"

Core Viewpoint - The recent decline in gold prices is seen as a "healthy correction" after a significant speculative surge, with industry experts anticipating further price adjustments in the near term [4][5][9]. Group 1: Price Movements and Market Sentiment - Gold prices fell below $4,000 per ounce, reaching a low of $3,980, after a 27% increase over seven weeks, peaking at $4,381 on October 20 [2]. - The recent drop of over 9% from the recent high has raised concerns among market participants about the sustainability of retail investor demand and central bank purchasing behavior [4][12]. - Industry leaders, including John Reade from the World Gold Council, express a desire for deeper corrections to stabilize the market [5][11]. Group 2: Future Price Predictions - Major financial institutions like HSBC, Bank of America, and Société Générale maintain a bullish outlook, setting a target price of $5,000 for gold in the coming year [10]. - Despite the optimistic long-term outlook, there are concerns about potential price drops, with some analysts suggesting that a price of $3,500 could be considered healthy for the market [11]. Group 3: Factors Influencing Demand - The demand for gold has been driven by investors seeking a hedge against geopolitical uncertainties, high government debt levels, and a declining dollar [6][8]. - Central banks have been diversifying their assets by purchasing gold, although recent data from the IMF indicates a slowdown in these purchases [7][13]. - Retail investor interest has surged, particularly in Australia and Japan, where there has been a notable increase in purchases of small gold bars and coins [12]. Group 4: Market Dynamics - The recent price surge has been attributed to speculative holdings, which some industry experts believe have inflated prices unsustainably [9]. - The London Bullion Market Association's outgoing chairman noted that the recent price movements are essential for clearing speculative positions, setting the stage for potential future increases [6]. - The CEO of the London Bullion Market Association highlighted that gold is becoming a mainstream investment choice, with rising trading volumes indicating a shift in investor behavior [14][15].