Huan Qiu Lao Hu Cai Jing·2026-02-02 06:40Group 1 - The precious metals sector experienced significant declines, with silver and gold prices dropping sharply, leading to over thirty stocks hitting the daily limit down [1] - Silver prices fell over 11% to below $75 per ounce, while gold saw a maximum drop of approximately 5.74%, currently reported at 4608 yuan per ounce [1] - The previous surge in precious metals was driven by factors such as de-dollarization, geopolitical risks, and speculative trading, with gold and silver reaching historical highs before the sudden reversal [1] Group 2 - The CME raised margin requirements for precious metal futures, increasing gold futures margin from 6% to 8% and silver futures margin from 11% to 15% [1] - The Shanghai Stock Exchange adjusted the margin level for silver deferred contracts from 20% to 26% and increased the price fluctuation limit from 19% to 25% [2] Group 3 - Market institutions have mixed views on the future of precious metals following the historic drop [3] - Citigroup warned that half of the current risk premium for gold may disappear by late 2026, particularly if the political independence of the Federal Reserve is strengthened, which could negatively impact gold's mid-term outlook [4] - However, several institutions maintain bullish forecasts, with CITIC Securities predicting gold could reach $6000 per ounce and UBS forecasting gold to hit $6200 in the first three quarters of this year [4]