Regarding the correction in gold prices in October, market institutions generally believe that apart from interest rates and exchange rate factors, the centralized sell-off of technology stocks triggered partial deleveraging and margin pressure, and that gold with good liquidity was sold and monetized simultaneously, which was an important driver. Song Xuetao, chief economist at Guojin Securities, pointed out that gold is both a long-term reserve asset and a financial asset that can be quickly realized; when AI-related stock markets resonate and local deleveraging pressure rises, investors often sell gold to supplement security deposits, causing short-term financial impacts to temporarily overwhelm long-term safe-haven logic. According to Pang Yi, the current international economic, trade and financial environment is still uncertain. Gold has both safe-haven properties and reserve asset attributes, forming a good risk hedge against US dollar assets in foreign exchange reserves. Continued increase in holdings will help enhance the degree of diversification of international reserves and enhance the stability and resilience of the overall reserve portfolio.

Regarding the correction in gold prices in October, market institutions generally believe that apart from interest rates and exchange rate factors, the centralized sell-off of technology stocks triggered partial deleveraging and margin pressure, and that gold with good liquidity was sold and monetized simultaneously, which was an important driver. Song Xuetao, chief economist at Guojin Securities, pointed out that gold is both a long-term reserve asset and a financial asset that can be quickly realized; when AI-related stock markets resonate and local deleveraging pressure rises, investors often sell gold to supplement security deposits, causing short-term financial impacts to temporarily overwhelm long-term safe-haven logic. According to Pang Yi, the current international economic, trade and financial environment is still uncertain. Gold has both safe-haven properties and reserve asset attributes, forming a good risk hedge against US dollar assets in foreign exchange reserves. Continued increase in holdings will help enhance the degree of diversification of international reserves and enhance the stability and resilience of the overall reserve portfolio.