On Tuesday (March 10) in the Asian market at midday, futures gold plunged nearly $ 20, and once rose above $ 1700 in the previous trading day. The recovery of risky assets after the "Black Monday" depressed the price of gold, and the decrease in demand in the jewelry market also dragged down the price of gold.

　　Risk assets

　　rebounded in Asian trading period Global risk assets experienced “after Black Monday” and generally rebounded in the Asian market on Tuesday. Asian stocks collectively advanced. The Hang Seng Index and the Nikkei 225 Index both rose more than 1%. The FTSE China A50 Index was large. Up nearly 2%.

　　Crude oil prices also rebounded sharply, with US WTI crude and Brent crude rising nearly 8%.

　　US stock index futures recovered some of the overnight decline. The Dow futures surged more than 800 points, or about 3.47%, the S & P 500 index futures were about 3.51%, and the Nasdaq 100 index futures rose 3.88%.

　　Chinese jewellery demand is

　　likely to fall by 6% during the year. Eric Scoles, a commodities strategist at Chicago's RJO futures, pointed out that some people are selling gold because of reduced Chinese jewellery demand.

　　The Chinese jewelry market is the largest in the world, and generally accounts for 30% of global demand. However, London-based research firm Metals Focus said last month that Chinese jewelry sales are expected to fall 6% this year due to public health incidents. Public health events have had a significant impact on most non-essential consumer goods.

　　In order to raise cash, central banks and institutions sell gold

　 At the same time, some analysts have pointed out that some central banks may be selling some of the gold in order to replenish the gold. However, hard evidence is currently lacking.

　　Gold is one of the most liquid assets in the world, and it is also one of the few assets that are currently buying. In recent weeks, hedge funds have also been selling gold, raising cash, and filling losses on investments in stocks and other assets.

　　TD Securities said that "the surge in liquidity demand in the short term is a risk." However, TD also stated that "as global interest rate cuts will provide fundamental support, the confidence of gold bulls will be strengthened and the rally will continue."