观察：金银价格暴涨之下 业内为何出现爆雷现象?

Core Viewpoint - The recent dramatic rise in gold and silver prices has led to significant challenges for many companies in the industry, resulting in operational failures and financial distress [1][2]. Group 1: Price Trends - Gold prices have surged over 60% in the past two years, marking the largest annual increase this century, while silver prices have seen an even more remarkable rise of over 140% in 2025 [1]. - Since the beginning of 2026, gold prices have continued to climb, reaching historical highs, with silver prices increasing nearly 30% in just a few trading days [1]. Group 2: Operational Challenges - Companies in the gold and silver industry may face significant risks due to their inadequate risk management practices, particularly in raw material procurement, inventory management, and operational oversight [2]. - The volatility in gold and silver prices can lead to drastic fluctuations in costs, which can catch companies off guard, especially if they have not aligned their raw material purchases with sales [2]. Group 3: Strategic Recommendations - Companies are advised to adopt a cautious approach towards price volatility, focusing on precise matching of raw material purchases with product sales to mitigate risks [3]. - Utilizing futures contracts for gold and silver may provide a hedging mechanism to manage the risks associated with price fluctuations, while avoiding speculative trading practices [3].