Group 1 - Spot gold and silver prices experienced significant declines, with gold dropping over 7% to below $5000 per ounce and silver falling over 16% to $97.112 per ounce, marking a daily loss of nearly $400 for gold and over $18 for silver [1][4] - The decline in precious metals has sparked discussions on social media, with some investors viewing the price drop as a buying opportunity, leading to increased demand for gold accumulation services from banks, which resulted in system outages due to high transaction volumes [4] - Major banks, including Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), announced adjustments to their personal gold accumulation business rules, with ICBC implementing limit management and CCB raising the minimum accumulation amount to 1500 yuan [7] Group 2 - UBS analysts suggest that while gold prices may face short-term pressure, the long-term outlook remains optimistic due to concerns over the independence of the Federal Reserve, escalating geopolitical tensions, and broader political uncertainties supporting precious metal prices [7] - JPMorgan's global market strategist forecasts that gold prices could rise to between $8000 and $8500 in the coming years, driven by retail investors increasingly relying on gold as a hedge against stock market declines [7] - However, there are warnings about the current overbought positions of commodity trading advisors (CTAs) and momentum traders in gold and silver, indicating potential risks of profit-taking or mean reversion in the short term [7]