Editor’s Note
Precious metals markets experienced significant volatility on February 10, with spot gold briefly falling below the $5,000 level and spot silver dropping over 2%. This article details the intraday price movements and the broader market decline.
Spot gold fell below the $5,000 mark, while spot silver’s intraday decline widened to 2%, intensifying volatility in the precious metals market. On February 10, precious metals declined across the board at the opening. Spot gold once broke below $5,000; as of 7:30, it had narrowed its losses to 0.85%. Spot silver fell more than 2%, quoted at $81.6 per ounce.
The ChinaAMC Silver LOF announced on February 9 that to protect investor interests, the fund would suspend trading from the market opening on February 10 until 10:30 that day, resuming at 10:30. If the secondary market trading price volatility on that day does not effectively subside, the fund has the right to take measures such as applying to the Shenzhen Stock Exchange for intraday temporary suspension or extending the suspension time to warn the market of risks. Specific details are subject to the announcement.
Luo Yifeng, Deputy General Manager of Guotai Junan Securities Asset Management and Chief Investment Officer, pointed out that gold still possesses long-term allocation value. From a long-term perspective, the logic for allocating gold remains solid, with factors such as the trend of de-globalization, a weakening US dollar, and sustained central bank purchases globally providing structural support. These driving factors arise alongside the phased development of the global environment and are irreversible. He reminded that short-term caution is needed regarding high volatility brought by crowded trades.
