机构提示黄金、白银长假持仓风险 可能短期波动

Core Viewpoint - Since late August, gold and silver futures prices have been on a continuous upward trend due to rising geopolitical risks and expectations of interest rate cuts by the Federal Reserve, with gold prices reaching historical records and silver prices approaching historical highs [1] Group 1: Market Drivers - The Federal Reserve's interest rate cut cycle has begun, with market expectations for two more rate cuts within the year, serving as a core driver for gold and silver prices [1] - Ongoing conflicts in the Middle East are increasing global risk aversion, further supporting precious metal prices [1] - Continuous gold purchasing demand from global central banks and strong industrial application prospects for silver are providing price support in the precious metals market [1] Group 2: Market Risks - Despite the optimistic long-term outlook for precious metals, several institutions have begun to highlight the risks associated with holding positions during the upcoming National Day holiday [1] - Following a series of price increases, there is inherent technical correction pressure on precious metal prices [1] - Recent hawkish signals from multiple Federal Reserve officials may trigger profit-taking among bullish investors, potentially increasing short-term volatility [1]