黄金、白银，直线拉升！

Core Viewpoint - The spot gold price has rebounded, surpassing $4800 per ounce, indicating a strong upward trend in precious metals [1][7]. Price Movements - On February 3, spot gold opened with a nearly 2% increase, reaching $4802.115 per ounce, while spot silver rose over 5% to $83.594 per ounce [1][7]. - The latest data shows that the London gold price is at $4803.714, reflecting a 3.10% increase, and COMEX silver futures are reported at $83.24, up over 8% [3][8]. Market Analysis - Analysts from JPMorgan predict that the upward momentum in gold prices will continue, with expectations for gold to reach $6300 per ounce by the end of 2026 due to strong demand from central banks and investors [5][10]. - Citigroup maintains a target price of $5000 per ounce for the next 0-3 months but expresses caution for the second half of 2026, forecasting a potential drop to $4000 per ounce by 2027 [5][10]. - The current bull market in gold is driven more by significant capital allocation from investors rather than central bank purchases, with an estimated $1 trillion inflow contributing to the price increase [5][10].