Guoxin Futures: Gold and silver face downward pressure, awaiting CPI data guidance

The precious metals market remains under pressure and weak due to overnight overseas selling. The main contract for Shanghai Gold fell by 1.61%, closing at 1110.1 yuan/gram; the main contract for Shanghai Silver dropped sharply by 5.52%, closing at 19,782 yuan/kilogram. The trigger for this decline may stem from the “AI panic” impacting tech stocks. Some traders might have sold liquid gold to cover losses in stock positions, and the chain reaction of algorithmic trading amplified the short-term selling pressure. Looking ahead, during the Spring Festival holiday, overseas markets will trade normally, but geopolitical events and inflation data are intertwined, and there is a certain gap risk at the opening after the holiday. In terms of strategy, gold remains a macro hedge asset with unchanged long-term allocation logic, so a very light long position can be maintained over the holiday; due to its speculative nature and high volatility, silver is recommended to be fully sold and observed to avoid the unpredictable two-way fluctuations during the holiday. (Guoxin Futures)