国际金银价格反弹，回调结束了？

Core Viewpoint - After a significant decline, international gold and silver prices rebounded on February 3, with domestic futures showing mixed results, indicating potential stabilization in the market [2][3]. Group 1: Price Movements - As of the report, London spot gold prices rebounded from a low of $4402.06 per ounce on February 2 to above $4700 per ounce, an increase of over 2% [2]. - London spot silver prices rose to above $82 per ounce, marking an increase of nearly 4% [2]. - In the domestic market, the Shanghai gold futures main contract opened with a significant rise but later adjusted, showing a decline of over 1% [2]. - The Shanghai silver futures main contract, after consecutive limit-downs, opened lower but still faced a sharp decline, with a drop of over 19% [2]. Group 2: Market Analysis - Analysts suggest that the recent price adjustments for gold and silver may be nearing an end, with expectations of a stabilization phase as the market awaits new positive drivers [2][3]. - The volatility in silver prices is attributed to its previous rapid increase, with a nearly 130% rise in COMEX silver compared to a 55.5% increase in COMEX gold, leading to heightened market reactions [3]. - Historical trends indicate that silver typically exhibits higher volatility than gold, which may continue to influence market dynamics [3]. Group 3: Long-term Outlook - From a medium to long-term perspective, the current phase of adjustment in gold and silver prices does not alter the overall upward trend, providing a favorable opportunity for long-term investors to accumulate positions [4]. - Technical analysis suggests strong support for gold at the 60-day moving average of $4450 per ounce and for silver at approximately $71 per ounce [4]. - Investors are advised to consider gradual accumulation during price dips while managing positions carefully in a high-volatility environment [4].