Spot gold and silver continue to decline, influenced by expectations of geopolitical negotiations

On February 17 (UTC+8), during the closing of the Chinese Spring Festival, the price of precious metals continued to decline. Spot gold fell to $4860 per ounce at one point, down about 2.6% during the day, after a 1% drop in the previous trading day; Spot silver fell more than 4% during trading, falling below the $73 mark. Market sentiment is influenced by expectations of geopolitical negotiations. US President Trump has stated that he will indirectly participate in the Geneva US Iran nuclear talks and that Iran intends to reach an agreement; The third round of talks between Russia, the United States, and Ukraine may focus on territorial issues. Analysts point out that the easing of diplomatic tensions may suppress the demand for safe haven. Several investment banks still maintain a medium to long term bullish stance, believing that geopolitical risks and the global trend towards de dollarization will support gold prices.