多个品种创年内新低！贵金属新一轮暴跌“冲击波”有多大？

Core Viewpoint - Precious metals, including gold, silver, platinum, and palladium, are experiencing a significant decline in prices, marking a new low for the year, which has also impacted the stock and ETF markets [1][2][3]. Price Decline Details - Gold prices have seen a drastic drop, with the Shanghai Gold Exchange's Au99.99 contract closing down 11.23% on March 23, reaching a low of 911 yuan per gram, over 20% lower than its recent peak [3][4]. - Silver prices have plummeted even more, with the main silver futures contract on the Shanghai Futures Exchange dropping over 13% on March 23, hitting a low of 15,070 yuan per kilogram, effectively halving from its yearly high [3][4]. - Platinum and palladium prices also fell sharply, with platinum futures dropping over 15% and palladium futures over 14% on March 23, both reaching new yearly lows [3][4]. Market Impact - The decline in precious metal prices has led to a significant drop in the Shenyin Wanguo Precious Metals Index, which fell 8.38% on March 23, with a cumulative decline of 20.75% since February [6]. - Stocks related to precious metals have also seen substantial declines, with companies like Hunan Silver and Zhaojin Gold experiencing over 40% pullbacks from their yearly highs [6][7]. - Major ETFs tracking precious metals have seen their scales shrink dramatically, with the Huaan Gold ETF dropping from 126.8 billion yuan to a loss of approximately 61 billion yuan over a few days [8]. Expert Analysis - According to Zhu Shanying, the escalation of geopolitical conflicts and strong energy prices have delayed interest rate cuts and worsened market risk appetite, which are key factors behind the recent adjustments in precious metal prices [10][11]. - In the short term, precious metals are expected to remain under pressure due to ongoing geopolitical tensions, but the long-term outlook remains bullish, driven by rising inflation expectations and potential stagflation risks [11].