暴涨之后必有暴跌？金银一夜惊魂后，分析师怎么看？

Core Viewpoint - The recent sharp declines in gold and silver prices, with gold dropping approximately 9% and silver around 26%, are seen as a natural correction following significant prior gains, as both metals were technically overbought [1][4][5] Price Movements - On Friday, spot gold closed at $4,883.45 per ounce, down over $700 from the weekly high of $5,596, marking a 2.06% decline. Spot silver closed at $85 per ounce, down over $36 from the weekly high of $121.6, reflecting a 17.64% drop [1] - Gold experienced its largest single-day drop since 1983, while silver recorded its largest drop ever, with January's cumulative gains narrowing to 13% for gold and 19% for silver [1][4] Market Analysis - Analysts noted that the previous surge in metal prices was unsustainable, with gold and silver rising nearly 20% and over 40% respectively in January, leading to a market correction [4] - The volatility in the metals market has been exacerbated by a thinning liquidity environment, as market makers are increasingly reluctant to hold risks [4][5] Future Outlook - Despite the current sell-off, analysts do not believe the overall upward trend has been fundamentally damaged, with expectations that the correction will attract buying interest [5] - The macroeconomic factors supporting gold and silver prices, such as rising G7 debt and geopolitical uncertainties, remain intact, suggesting continued bullish sentiment [6][7] - Analysts predict that gold could reach $6,000 per ounce by the end of the year, with potential support levels around $4,600 per ounce [5][6] Economic Influences - The market's reaction to U.S. economic and interest rate policy changes has amplified the recent price declines, particularly following President Trump's nomination of Kevin Warsh for the Federal Reserve chair [7] - Warsh's potential influence on U.S. monetary policy is viewed as a critical turning point, with expectations that he may not deviate from Trump's preference for lower interest rates [7][8] - Current inflation data complicates the Fed's policy path, with producer prices rising significantly, indicating persistent inflationary pressures [8]