Group 1: Gold Market Analysis - Gold prices have experienced a significant decline, approaching a three-week low near $3300, influenced by a strong dollar and expectations of prolonged high interest rates from the Federal Reserve [3][4] - A "multiple top" formation has been identified in the gold price chart, indicating strong resistance above $3434, with a critical support level at $3300; a breach of this level could lead to further technical selling [3][4] - If the support at $3300 is lost, further declines towards $3200 may occur, while a rebound could face initial resistance at $3340 and stronger resistance at $3370 [4] Group 2: Federal Reserve and Economic Data Impact - The upcoming FOMC meeting is crucial; if no dovish signals are released, gold may enter a new technical downtrend [5] - Investor sentiment remains cautious, focusing on the FOMC meeting and key U.S. economic data [3] Group 3: Oil Market Dynamics - International oil prices are supported by strong summer demand and tight inventories, with potential for price increases if key resistance levels are broken [8] - Geopolitical factors, including U.S. pressure on Russia and upcoming trade policy changes, contribute to market uncertainty [7][10] - Technical indicators suggest that if WTI crude oil prices break above $68.30, they could reach $70, while a drop below $65.20 may lead to a sideways trading pattern [8]

Core Viewpoint - The significant drop in gold prices is attributed to improved US-China trade negotiations and a general easing of geopolitical tensions, leading to reduced demand for gold as a safe-haven asset [3]. Group 1: Market Reaction - On May 16, spot gold prices fell dramatically, dropping $20 to below $3160 per ounce, with a daily decline of 2.56% [1] - New York futures gold also experienced a 2% drop, settling at $3162.00 per ounce, while London gold and COMEX gold reported similar declines [1]. Group 2: Factors Influencing Gold Prices - The easing of market tensions due to positive developments in US-China trade talks has led to a significant outflow of funds from the gold market into riskier assets [3]. - Geopolitical stability is indicated by the first direct talks between Russia and Ukraine in over three years, further enhancing market risk appetite and diminishing gold's appeal [3]. - Technical analysis shows that gold's repeated failures to break the $3200 per ounce psychological barrier led to increased selling pressure once this support level was breached [3]. Group 3: Economic Indicators - The US April CPI data showed moderate performance, dampening expectations for significant interest rate cuts by the Federal Reserve, which in turn strengthened the dollar and pressured gold prices [3]. - A report from Citigroup on May 12 revised the three-month gold price target down from $3500 to $3150 per ounce, citing the easing of tariff concerns as a core reason for the price adjustment [3]. Group 4: Investor Behavior - Investors who previously bought gold at high prices are now facing significant losses, with one example showing a drop from a purchase price of 830 yuan per gram to around 758 yuan, resulting in a loss of approximately 72 yuan per gram [3]. - Some investors have successfully locked in profits by selling at high prices, while others are waiting for further declines to enter the market [3].

Group 1 - The core viewpoint of the articles indicates a significant decline in gold prices, with spot gold dropping by $20 to below $3160 per ounce, marking a 2.56% decrease on May 16 [1] - On the same day, the price of gold jewelry fell below 1000 yuan per gram, reflecting a broader trend in the gold market [2] - Factors contributing to the decline in gold prices include progress in US-China tariff negotiations, a decrease in geopolitical tensions, and a failure to maintain the psychological support level of $3200 per ounce, leading to increased technical selling pressure [4] Group 2 - The US April CPI data showed moderate performance, which cooled market expectations for significant interest rate cuts by the Federal Reserve, resulting in a stronger dollar that further pressured gold prices [5] - Citigroup has revised its gold price outlook, lowering the three-month target from $3500 to $3150 per ounce, a reduction of 10%, citing easing tariff concerns as a key reason for the price adjustment [5] - Citigroup's analysts predict that gold prices will oscillate between $3000 and $3300 per ounce in the near term, indicating a more rational volatility in the current complex market environment [5]