10% retracement from the high! Has gold peaked? Latest statement from institutions

Recently, the international gold price has dropped to nearly $3100 per ounce, rebounding to the $3200 per ounce mark as of May 16th. It has fallen by nearly 9% from its high of $3509 per ounce. The main Shanghai gold contract has also dropped below 750 yuan per gram, retreating by over 10% from its high of 836 yuan per gram. Both domestic and foreign gold ETFs have generally experienced net outflows, and trading sentiment has cooled. Several fund companies have stated that the surge in gold prices caused by tariff escalation has come to an end, but the long-term global game situation will make it difficult for gold to make major adjustments. The trend of de-dollarization and the demand for safe-haven assets due to geopolitical conflicts still provide long-term support for gold.