Xin Lang Cai Jing·2026-02-03 02:52Market Overview - On February 3, gold and silver prices rebounded, with spot gold reaching nearly 4800 USD and spot silver touching 85 USD before narrowing gains [1][6] - As of 10:22 AM, both gold and silver saw a decrease in their price increases [1][6] Price Movements - Current prices include: - London Gold: 4785.350 USD (+126.072, +2.71%) - London Silver: 83.497 USD (+4.366, +5.52%) - COMEX Gold: 4831.9 USD (+179.3, +3.85%) - COMEX Silver: 83.880 USD (+6.871, +8.92%) - SHFE Gold: 1076.46 USD (-10.48, -0.96%) - SHFE Silver: 21121 (-4629, -17.98%) [2][7] Stock Market Reaction - Despite the rebound in gold and silver prices, A-share market gold concept stocks mostly declined, with several stocks including Yuguang Gold Lead, Sichuan Gold, and Zhaojin Gold hitting the daily limit down for three consecutive days [2][3][7] - In contrast, Hong Kong gold concept stocks collectively rebounded, with Zhaojin Mining up nearly 2%, Chifeng Jilong Gold over 2%, and Zijin Mining International over 3% [3][8] Fund Performance - The Guotou Silver LOF resumed trading on February 3 and hit the daily limit down at 4.25 CNY, with a premium rate of 88.94% [4][9] - The fund reported a single-day net value drop of 31.5%, marking a historical record for public funds [4][9] Market Analysis - According to Guotai Junan Securities, the recent significant drop in precious metal prices is a technical adjustment following irrational increases earlier in the year, rather than the end of a long-term bull market for gold [4][9] - Short-term factors include a cooling of speculative sentiment and a decrease in leverage levels, which may help gold return to a healthier upward trend [4][9] - Long-term, the ongoing restructuring of the global monetary system and declining trust in various currencies suggest that central bank gold purchases will continue, supporting a sustained bullish outlook for gold [4][9]