全线跳水！全球股市，突然“降温”！发生了什么？

Core Viewpoint - The global risk assets experienced a halt in their upward momentum, with major stock indices in Asia and Europe declining, attributed to profit-taking after significant gains that led to historical highs [1][3][4]. Market Performance - Asian stock markets saw collective declines, with the Shanghai Composite Index down 0.22%, Shenzhen Component down 0.44%, and the Hang Seng Index down 0.33% [3][4]. - European indices also opened lower, with the DAX30 down 0.21% and CAC40 down 0.1% as of 17:00 Beijing time [4]. - Cryptocurrency markets faced declines, with Bitcoin down 0.6% and Ethereum nearly 1%, resulting in over 110,000 liquidations in the past 24 hours [4]. Precious Metals Market - Gold and silver prices experienced significant drops, with gold falling over 2% at one point, trading below $3900 per ounce, and silver down 1.97% to $45.89 per ounce [1][4]. - Analysts from Heraeus indicated that the adjustment in precious metal prices could last for several months, although they expect a potential continuation of the upward trend if investor interest remains strong [5][6]. Demand and Future Outlook - Despite recent price declines, global retail demand for gold remains robust, and gold ETF holdings have not shown significant declines, indicating sustained investor interest [6]. - Analysts predict that ongoing economic uncertainty will continue to support gold prices, with Metals Focus forecasting an average gold price of $4560 per ounce next year, reflecting a 33% increase from the current average [6][7]. - Morgan Stanley's commodity strategist anticipates that gold prices could exceed $5000 per ounce by the end of 2026, driven by persistent demand from investors and central banks [7].