由于市场动荡激发盈利，纪录高的金色下降

金价在一次剧烈集会之后在周四撤回，随着全球市场动荡蔓延到金条市场，从创纪录的高点滑落。

Gold prices slipped on Thursday from a record high as global market turbulence, sparked by newly imposed tariffs, spilled over into the bullion market, prompting investors to take some profit from the recent stellar gains.

由于新强加的关税引起的全球市场动荡，周四的黄金价格从周四的高度下跌，涌入金条市场，促使投资者从最近的恒星收益中获利。

The downturn came as investors reacted to the U.S. tariffs on goods from Mexico, which President Donald Trump announced on Thursday. The tariffs, if fully implemented, are set to escalate from 5% to 25% by October.

投资者对墨西哥的商品关税做出了反应，唐纳德·特朗普总统周四宣布，投资者对美国的商品关税做出了反应。如果完全实施的关税，到10月，关税将从5％升至25％。

Earlier in the session, spot gold surged to a historic peak of $3,167.57 before slipping by 0.85% to trade around $3,106.99 at 3:08 AM ET (7:08 AM GMT). Meanwhile, U.S. gold futures settled down 1.4% at $3,121.70.

在会议的早些时候，Spot Gold飙升至历史峰值3,167.57美元，然后在美国东部时间上午3:08（GMT上午7:08）下滑了0.85％的交易约3,106.99美元。同时，美国黄金期货在$ 3,121.70下降了1.4％。

“I think it’s just profit-taking and margin calls. People are liquidating their gold positions to cover losses from other assets,” said Peter Grant, vice president and senior metals strategist at Zaner Group.

Zaner Group副总裁兼高级金属策略师Peter Grant说：“我认为这只是获利和利润的电话。人们正在清算其黄金头寸，以支付其他资产的损失。”

The sudden sell-off was also triggered by broad-based de-leveraging pressures as investors are closing out risky positions to minimize further losses, which could open up an opportunity for buyers to accumulate at lower levels.

由于投资者正在结束风险的立场以最大程度地减少进一步的损失，这可能为买家提供较低水平的积累机会，这也引起了突然的抛售。

“Those who like the lower level can buy the dip. It’s still a good level to enter. People are cutting their positions to meet margin calls and some are also taking profit off the gold rally,” Grant added.

格兰特补充说：“那些喜欢较低级别的人可以购买浸入。进入的水平仍然很好。人们正在削减自己的职位来满足保证金电话，有些人也从黄金集会中获利。”

He pointed out that while some traders are liquidating gold to meet margin requirements, the precious metal’s long-term appeal as a safe-haven asset remains strong.

他指出，尽管有些交易者正在清算黄金以满足利润的要求，但贵金属作为避风港资产的长期吸引力仍然很强。

The tariff announcement, which sparked a broad market slump, has heightened concerns about its potential impact on economic growth, especially at a time when the global economy is already facing headwinds.

关税宣布引发了广泛的市场低迷，对其对经济增长的潜在影响引起了人们的关注，尤其是在全球经济已经面对逆风的时候。

Despite the short-term decline, gold is still up more than $500 from the beginning of the year, driven by a confluence of factors, including trade tensions, Brexit woes, and geopolitical unrest.

尽管短期下降了，但在包括贸易紧张局势，英国脱欧问题和地缘政治动荡在内的因素融合的驱动下，黄金仍从今年年初上涨了500多美元。

These factors have prompted investors to pour money into safe-haven assets like gold and the Japanese yen, while pulling out of riskier assets, such as stocks and emerging-market currencies.

这些因素促使投资者将资金倒入黄金和日元之类的避风港资产中，同时退出了较风险的资产，例如股票和新兴市场货币。

“It’s just a temporary retracement within a broader bullish trend,” said David Meger, director of metals trading at High Ridge Futures in New York.

“这只是更广泛的看涨趋势中的临时回撤，”纽约High Ridge Futures金属交易总监David Meger说。

“We’re still in a bull market for gold. The long-term bullish case for gold is still very much intact.”

“我们仍然处于黄金的牛市。黄金的长期看涨案例仍然非常完整。”

Central banks are also increasing their purchases of gold as they seek to diversify their reserves and reduce their reliance on the dollar amid geopolitical uncertainties.

中央银行在寻求多样化的储量并在地缘政治不确定性的情况下减少对美元的依赖，也正在增加他们对黄金的购买。

The world’s largest gold ETF, iShares Gold Trust , saw an outflow of 16.8 tons in April, marking the largest monthly withdrawal since the ETF launched in 1990.

世界上最大的黄金ETF Ishares Gold Trust在4月的流出量为16.8吨，这是自ETF于1990年推出以来最大的每月撤离。

However, some analysts, including those at HSBC, note that while gold prices may continue to rise in the first half of the year, a combination of physical and financial factors could weigh on prices by the end of 2025.

但是，一些分析师，包括汇丰银行（HSBC）的分析师指出，尽管黄金价格在今年上半年可能会继续上涨，但在2025年底之前，物理和财务因素的结合可能会使价格重视。

HSBC analysts project that the average gold price will be around $3,015 by the end of the year, as market dynamics and macroeconomic trends play out in the coming months.

汇丰银行分析师项目指出，到年底，由于市场动态和宏观经济趋势在未来几个月中，平均金价将大约为3,015美元。