TechFlow News: On January 30, according to JIN10 Data, spot gold continued its sharp decline, falling below USD 5,000 per ounce—a drop of over 7%. Spot silver plunged more than 17%, breaking below the USD 100 per ounce threshold; spot platinum fell over 16% to around USD 2,211 per ounce. Wu Zewei, a specially appointed researcher at Suzhou Commercial Bank, analyzed that the primary drivers were the concentrated liquidation of short-term profits and technical corrections. This sharp decline is more likely a correction within an ongoing bull market rather than a reversal of the trend. He noted that the fundamental pillars supporting the current gold bull market remain intact: first, expectations for Federal Reserve rate cuts within the year persist; second, global geopolitical risks continue to mount; and third, central banks’ long-term trend of increasing gold reserves remains unchanged. “After sufficient consolidation, gold prices still hold broad upside potential over the medium to long term,” Wu Zewei stated, adding that investors may consider opportunities arising from this pullback, while remaining cautious about heightened short-term volatility.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
