New york gold futures and London spot gold prices plunged across the board on Friday (April 12), hitting the lowest level since July 20 1 1. At the same time, it also announced that the gold price officially entered a bear market. Mainly due to the sustained recovery of the global economy, investors poured funds into the US dollar and the stock market, which prompted the gold price to fall by more than 20% from the historical high point, in line with the definition of a bear market, with a continuous 65,438+.

1. Goldman Sachs lowered its gold price forecast of 20 13 this week, from $0/610 per ounce to $0/545. Goldman Sachs is a flag of the global financial market, and its every move is regarded as a weather vane.

2. The global recovery is still going on, especially the US easing policy may be tightened ahead of schedule. According to the minutes of the Federal Reserve meeting, many members requested to reduce the size of QE in the middle of the year and end QE at the end of the year.

3. The Bank of Cyprus may sell its gold reserves, which will also lead to the psychological impact of investors.

4. The global stock market continued to climb, especially the American stock market hit a record high, which led investors to transfer funds from gold to assets such as the stock market dollar.