地缘“黑天鹅”群飞，黄金、白银再创新高！

Core Viewpoint - The price of gold has reached a historic high of $4601.38, driven by geopolitical tensions and macroeconomic factors, including the conflict between Trump and Federal Reserve Chairman Powell, as well as unrest in Venezuela and Iran [1][5]. Group 1: Gold Market Performance - Spot gold surged to a peak of $4601.38, marking a new historical high, while COMEX gold also surpassed the $4600 mark [1]. - The recent performance of gold includes a significant increase of $65.00, or 1.44%, from the previous close [2]. - Gold ETFs have followed the upward trend, with a reported increase of 1.96%, and a year-to-date gain of 5.15% [3]. Group 2: Silver Market Performance - Spot silver reached a new high of $84.589, with a notable increase of 5.73% from the previous close [3]. - COMEX silver prices surged over 6%, pushing towards the $84 mark [2]. Group 3: Factors Driving Gold and Silver Prices - Geopolitical uncertainties, including U.S. military actions in Venezuela and threats regarding Iran, have acted as catalysts for the rise in precious metal prices [5]. - Recent U.S. employment data showed lower-than-expected job growth, reinforcing expectations for continued interest rate cuts by the Federal Reserve, which benefits non-yielding assets like gold [5]. - Concerns over the independence of the Federal Reserve due to potential legal actions from the U.S. Department of Justice have also contributed to market volatility and gold's appeal [5]. Group 4: Central Bank Gold Holdings - Central banks globally have been increasing their gold reserves, with China adding 544 tons over the past decade, ranking second globally after Russia [6]. - The trend of central banks diversifying their asset portfolios with gold is expected to continue, supporting higher gold prices [5]. Group 5: Future Outlook - Analysts predict that the gold bull market may extend into 2026, with expectations of further interest rate cuts by the Federal Reserve and ongoing geopolitical tensions [7]. - The potential for gold prices to reach $5000 per ounce and silver prices to range between $135 and $309 per ounce reflects a positive outlook for the precious metals sector [7].