Gold price plummets, experts say it may be mainly due to changes in market sentiment and profit-taking.

Journalists learned that after the Federal Reserve interest rate meeting early Thursday morning Beijing time, the short-term bullish logic temporarily ran out, and the market bulls chose to take profits. In addition, multiple factors such as speculation on the next Federal Reserve chairman selection may have collectively led to the historic plunge in gold prices. "This sharp fluctuation may be mainly due to the change in market sentiment and profit-taking," Yang Delong, chief economist at Qianhai Kaiyuan Fund, told reporters. Although in the long term, factors such as the trend of "de-dollarization", central bank and private sector buying gold, weakening US dollar, and international geopolitical unrest will continue to drive the upward trend of gold prices, in the short term, the prices of gold and silver have risen significantly, trading before the decline was very crowded, there is a large price difference between futures and spot markets, and significant risks have already accumulated.