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The world's largest gold ETF has been continuously sold off for 4 days, with nearly 11 tons of gold sold. This signal is unusual; why suddenly sell gold? In simple terms, there are four reasons. First, the market sentiment has changed. The market originally believed that the Federal Reserve would cut interest rates in March, but the new chairman may be tough, and a rate cut is likely to be delayed until after June. Money held in gold earns no interest and has too much volatility; it's better to sell and convert it into possibly appreciating U.S. Treasuries or dollars, prompting big institutions to quickly change direction. The second reason is that they've made enough profit and want to cash out. Gold rose nearly 25% in January, hitting a historic high, and everyone made money, so many people's first reaction is to sell quickly to secure their profits. The third reason is that the dollar is too strong, and there is no demand for safe-haven assets. The dollar has been rising recently, making gold more expensive when bought with euros or yen, naturally reducing demand. The anxiety over geopolitical safe-haven concerns has eased a bit, and gold, as a safe-haven asset, has been temporarily neglected. The fourth reason is a stampede. The exchange suddenly raised the margin requirements for gold, equivalent to increasing the entry and maintenance fees. A group of people who relied on borrowing to trade gold can no longer afford it, resulting in forced liquidations and selling, causing the price of gold to fall further and creating a vicious cycle. However, the central bank has been increasing its gold holdings for 15 consecutive months, proving that gold has no long-term issues, but short-term volatility will increase. #加密市场反弹 #美国伊朗对峙 #Bitcoin谷歌搜索量暴升 #何时抄底? #黄金 $BTC
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