Giá vàng tiếp tục dao động: Có người "lỗ nặng" muốn thoát ra, có người kiên định "mua vào khi giảm", ngân hàng đồng loạt cảnh báo rủi ro

New Beijing News Shell Finance Reporter Jiang Fan Editor Chen Li Proofreader Lu Xi

After several consecutive days of falling, gold prices quickly surged again. On March 25, the international spot gold price once rebounded to 4599 USD/ounce, with a rise of 2.84%. As of the time of the reporter’s release, the gold price had retreated to 4548.51 USD/ounce, with a rise of 1.71%.

Faced with the “roller coaster”行情 of gold prices, many investors said they were already “sick of losses” and “won’t enter again,” but some investors “buy the dip.”

Prices of precious metals fluctuated sharply, and banks again issued announcements to warn of risks. Many banks suggested that customers should enhance risk-prevention awareness, make rational investments based on their own financial conditions and risk tolerance, and reasonably control their positions.

Some people are “sick of losses” and want to exit; others firmly “buy more at every dip to average down”

“ I bought gold at 1,100 yuan per gram. When it fell to the point where I couldn’t hold it anymore.” Beijing resident Zhang Zheng recently watched the gold price fall again and again. Should he sell to stop the decline, or continue adding to his position to smooth out the cost? He had been hesitant. According to the “curse” in which he invested, “If I sell it, it will go up; if I add to it, it will go down.” But in the end, he still decided to add another 50 grams of gold.

In interviews with Shell Finance reporters, many investors said that the recent multi-day decline in the gold price had already wiped out all the unrealized profit from last year; others directly said that although gold is a safe-haven asset, they had still been losing money, and they just wanted to break even as soon as possible and exit.

“Ever since I bought gold, I couldn’t help but watch the price every day. I didn’t make a single yuan, and I even lost tens of thousands.” Wang Mo, who lives in Shanghai, said that she only wants to wait until she breaks even, then liquidate everything and stop investing.

However, many investors are not too concerned about gold’s recent oscillation. In their view, in the long run gold still has an upward trend, so “buy the dip to add positions” has become the choice of this type of investor.

Li Ting, an investor who lives in Beijing, is one such investor. In her view, international affairs are still turbulent and unsettled, and the pullback after gold previously touched a high is a normal phenomenon. But in the long run, there is still room for gold prices to rise, so “don’t look at the short term, look at the long term” has become her “creed” for investing in gold.

Data show that, from the holdings of gold ETFs, amid last week’s repeated declines in gold prices, China’s domestic gold T+D cumulative trading volume increased significantly. The total trading volume for the week was 297,924 kilograms, up 23.04% from the previous week.

Banks again “call on” investors to “stay calm”

In the recent period, precious metal prices have continued to fluctuate. The “roller coaster”行情 has clearly increased investment risk for gold and other precious metals. In response, multiple banks have once again issued market risk warning announcements, “calling on” investors and reminding everyone to stay calm and rational when investing in gold.

“Investors must maintain a calm and rational investment mindset, fully assess their own risk tolerance, and avoid blindly chasing after short-term market sentiment when buying high and selling low.” Industrial and Commercial Bank of China warned that from the perspective of long-term asset allocation, it is recommended that investors adhere to the principles of “total amount control, entering in batches, and diversified allocation,” and smooth out the risk of period-by-period volatility by extending the investment horizon, thereby building a more robust asset portfolio.

Construction Bank also warned that investors should enhance their risk-prevention awareness in precious metals businesses. Based on their own financial situation and risk tolerance, they should invest rationally and steadily; allocate precious metals in a balanced and appropriate manner; reasonably control their positions; and avoid blindly following the crowd. At the same time, please promptly pay attention to changes in holdings and the balance of margin to guard against market risks in precious metals.

Bank of China also issued a risk warning announcement stating that investors should take precautions against market risks, make rational investments based on their own financial situation and risk tolerance, control their precious metals positions reasonably, and reduce the impact of short-term price volatility on them through long-term investing, thereby preventing the risk of capital losses caused by market volatility.

Market analysts and institutions generally believe that while gold price volatility will still exist in the short term, there are positive factors for gold prices in the long run. They suggest that investors invest over the long term and diversify.

Dong Shimiao, chief economist of 招联, said that there are many factors affecting gold prices. In addition to international situations causing oil prices to be unstable, it may also be related to multiple factors. First is Federal Reserve policy signals. This is the most direct factor affecting the current situation. If market expectations for rate hikes further strengthen, gold will face significant selling pressure. Second are key economic data: especially the United States’ inflation data (CPI, PCE) and employment reports. Third are the U.S. dollar index and U.S. Treasury yields. Gold and the dollar index, as well as gold and real U.S. Treasury yields, typically show a highly negative correlation.

“Current international conditions are still unclear, and gold prices may still face downside pressure.” Qu Rui, an analyst at Oriental Jincheng, said that the gold price trend will show a pattern of “downward pressure in the short term, and positive improvement in the long term.”

In terms of execution, Qu Rui advises investors to stay cautious and observe in the short term to avoid the risk of trying to catch the bottom, and to wait for support levels to be confirmed. In the medium to long term, investors can take advantage of opportunities during pullbacks to build positions in batches. Treat gold as a hedging tool accounting for 5%-10% of an asset portfolio, and focus on core catalysts such as the Federal Reserve’s window for rate cuts and developments in the Middle East, while being alert to potential risks such as inflation heating up beyond expectations and the expansion of geopolitical conflicts.

 新浪合作大平台期货开户 安全快捷有保障
![](https://img-cdn.gateio.im/social/moments-d3ad42e43d-b9ffd0c6f8-8b7abd-ceda62)

A large amount of information, precise interpretation—right here on the Sina Finance APP

责任编辑：刘万里 SF014