盛宝银行：投机热潮有望推动黄金站上5500，短期不会大幅回调

Group 1 - The core viewpoint of the articles highlights that international spot gold has stabilized above the $5,000 mark and is making a push towards $5,300 per ounce, recording over a 20% increase at the start of the year, marking the best performance since 1980 [1] - Analysts suggest that while gold prices are supported and have momentum to rise further, global economic resilience may pose a challenge to gold's upward trajectory [2] - The driving factors behind gold's rise include concerns over unchecked fiscal debt expansion, the weakening of the US dollar, geopolitical uncertainties, and persistent inflation worries, although these concerns have not yet materialized into severe market reactions [3] Group 2 - There is an increasing risk of long-term consolidation for gold rather than a significant pullback, as the structural logic supporting gold remains intact [4] - In contrast, there are greater concerns regarding silver, which has seen its best start to the year since records began in 1972, with a nearly 60% increase in January alone [5] - The rise in silver prices is attributed to retail participation, speculative positions, and investor anxiety, leading to historical high levels compared to gold and platinum, which may disrupt industrial demand [5]