On the 17th local time, many major markets around the world were closed due to traditional holidays, and trading in the precious metals market was light. Against the background that expectations of interest rate cuts by the Federal Reserve have cooled, gold encountered resistance at the key psychological level of $5,000 per ounce, which coupled with profit-taking by some investors, intensified the downward pressure on precious metal prices.
Following yesterday's sharp reversal after first falling and then rising, as of 12:30 Beijing time on the 17th, the spot gold price in London was reported at 4,956.77 US dollars per ounce, down 0.72%;
Spot silver price was at $75.325 per ounce, down 1.64%;
The price of gold futures for April delivery on the New York Mercantile Exchange was US$4,971.60 per ounce, a decrease of 1.48%.
Silver futures for March delivery were at $75.505 per ounce, a decrease of 3.15%.
Since the beginning of 2026, gold and silver prices have risen and fallen back successively, but the trends during the adjustment have clearly diverged. As of press time, spot gold still maintains a gain of about 15% during the year; silver has shrunk sharply from a cumulative gain of more than 50% at the beginning of the year to about 6%.
Ao Chong, chief analyst of the metal industry at CITIC Securities, said in an interview with reporters: "Liquidity is a core factor that has driven the rise of most global assets throughout this round. Therefore, we have a good understanding that assets that are closer to liquidity and money are likely to rise faster. Secondly, we believe that under the current circumstances, geopolitical conflicts are becoming more and more intense, causing gold to continue to play the role of a safe haven. I think the upward trend of gold prices has not ended, and it is still an asset that can be invested.”
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