Precious metals broadly adjusted as gains cooled at high levels! Gold and silver both saw significant pullbacks, with short-term volatility intensifying 📉
International spot gold fell below the $4,430 mark, while silver plunged over 5% in a single day, and platinum group metals dropped even more sharply. Domestic futures markets followed suit, with net outflows from gold and silver futures exceeding 2.5 billion yuan.
Clear reasons for the correction: The Shanghai Futures Exchange raised silver futures trading fees and restricted new positions; rebalancing of the Bloomberg Commodity Index triggered technical selling; combined with easing geopolitical safe-haven sentiment and diverging expectations on Federal Reserve rate cuts, investors increased their profit-taking activities.
Long-term fundamentals remain intact! Institutions still expect gold to reach $5,100 by year-end, while silver's industrial demand supports long-term potential.
⚠️ Avoid blindly chasing or bottom-fishing in the short term; closely monitor non-farm payroll data and geopolitical developments; medium to long-term investors may consider accumulating at lower levels while strictly managing leverage risks.
Are you holding on or taking profits? Join the discussion in the comments!
