盘中，直线大跳水！黄金、白银，发生了啥？

Core Viewpoint - The recent fluctuations in gold and silver prices are primarily driven by heightened risk aversion due to trade tensions, expectations of further interest rate cuts by the Federal Reserve, and ongoing central bank purchases, with profit-taking contributing to the sharp declines observed in the afternoon [1][4][5]. Gold Market Summary - Gold prices surged significantly, with spot gold reaching a high of $4179.7 per ounce, marking a year-to-date increase of over 56% [2][4]. - Analysts from Société Générale have raised their gold price target for the end of 2026 to $5000 per ounce, citing strong inflows into gold ETFs and stable demand from central banks [4]. - The expectation of two more interest rate cuts by the Federal Reserve this year is anticipated to further support gold prices, with a potential for continued upward movement [5]. Silver Market Summary - Silver prices have shown even stronger momentum than gold, with spot silver hitting a high of $53.579 per ounce, reflecting an approximate 80% increase year-to-date [7][9]. - The London silver market is experiencing unprecedented liquidity issues, leading to significant price volatility, with rental rates for silver soaring above 30% [9][10]. - Analysts from Bank of America have increased their silver price target for the end of 2026 from $44 to $65 per ounce, driven by ongoing supply shortages and fiscal deficits [10].