贵金属狂欢！金银价格新高之后，投资者如何布局？

Group 1 - The core viewpoint of the article highlights a significant surge in precious metals, particularly gold and silver, driven by multiple factors including macroeconomic changes and geopolitical tensions [1][2][5] - Gold prices recently surpassed $3897.7 per ounce, while silver reached $47.41 per ounce, with year-to-date increases of 46% and 60% respectively [1][19] - The Federal Reserve's decision to lower interest rates to a target range of 4.00% to 4.25% is expected to continue, with indications of potential further cuts, enhancing the appeal of non-yielding assets like gold and silver [3][4] Group 2 - The rising demand for safe-haven assets is evident as geopolitical uncertainties persist, with recent comments about potential government shutdowns in the U.S. increasing market anxiety [5][6] - Central banks globally, including the People's Bank of China, have been increasing their gold reserves, reflecting a long-term strategy of diversifying away from the U.S. dollar [11][13] - Despite high gold prices, global demand for gold reached 1249 tons in Q2 2025, a 3% year-on-year increase, with significant contributions from gold ETFs and bar/coin investments [19] Group 3 - Silver's price increase is attributed to its dual role as both a financial asset and an industrial metal, benefiting from both declining interest rates and rising industrial demand [21][23] - The gold-silver ratio indicates that silver is currently undervalued compared to gold, suggesting a potential for price correction and increased investment in silver [23][27] - The World Silver Association predicts a record supply-demand gap for silver in 2025, driven by the acceleration of global green energy transitions [26][28] Group 4 - The long-term outlook for precious metals remains positive, supported by ongoing central bank purchases, geopolitical risks, and structural supply-demand dynamics [28][30] - Investment strategies include balanced allocations in precious metals ETFs, aggressive positions in gold mining stocks, and direct investments in gold ETFs to mitigate volatility [31][32][33]