Recently, the precious metals market experienced another significant fluctuation. U.S. President Trump made a striking statement on social media: "Gold will not be taxed!" This news quickly triggered a market reaction, leading to a substantial fall in precious metal prices.

According to the latest market data, COMEX gold futures fell by 2.78%, priced at $3394.1 per ounce; at the same time, COMEX silver futures also fell by 2.29%, priced at $37.66 per ounce.

Previously, the U.S. Customs and Border Protection announced a decision to impose tariffs on gold imports. This ruling involves 1-kilogram and 100-ounce gold bars and will apply to the country-specific tariff measures implemented by the Trump administration on August 7. This decision had previously driven precious metal prices to a historic high.

Industry insiders point out that if this taxation policy is ultimately implemented, it will have a profound impact on the global gold market. Some analysts believe that in the long term, precious metal prices may show a fluctuating and slightly strong trend.

Currently, the market is closely watching whether the gold price can stabilize at the key level of $3500 per ounce. A solid technical support may have formed around $3400 per ounce. Meanwhile, the silver price has followed the trend of gold, breaking through the important resistance level of $38.5 per ounce. If it can solidify this position, under the dual effect of recovering industrial demand and the transmission of financial attributes, the silver price is expected to challenge a new high of $39 per ounce.

Currently, heightened risk aversion and a loose monetary policy environment are jointly driving precious metal prices strongly upwards. However, Trump's latest statements have brought new uncertainties to the market, and investors need to closely monitor the subsequent policy direction and its impact on the precious metal market.