Gold Plummets! Experts Warn "Ceiling Price" Has Appeared, Market May Continue to Decline

Due to the easing of Sino-U.S. trade tensions and the strong non-farm employment report from the U.S. in April, gold prices have continued to weaken recently. On the 2nd, spot gold slightly dropped by 0.4% to $3228.5 per ounce (approximately 23000 yuan), marking a second consecutive week of weekly declines, with a cumulative drop of over 2% for the week. Just on the 22nd of last month, gold prices reached a historic high of $3500.05 per ounce (approximately 25000 yuan), and this week have already fallen 2.6% from that peak.

Senior market strategists point out that gold prices have short-term reached a "ceiling". RJO Futures strategist Daniel Pavilonis analyzes that near $3500 per ounce (about 25000 yuan) may become a phased peak; if more trade agreements are reached in the future, market risk aversion may further cool down, making it difficult for gold prices to maintain high levels.

City Index market analyst Fawad Razakzada also warned that as the demand for safe-haven assets weakens, gold may further decline and even drop below the key support level of $3200 per ounce (approximately 23000 yuan) this week. Industry insiders remind investors to be cautious of the dual pressure from easing geopolitical risks and a strengthening dollar, and to closely monitor the Fed's policy trends and changes in the global trade situation for their subsequent impact on gold prices.