美元沉沦，金银齐飞

Core Viewpoint - The article discusses the surge in gold and silver prices driven by geopolitical tensions and economic uncertainties, highlighting the increasing demand for these precious metals as safe-haven assets [5][6][7]. Group 1: Gold Market Insights - Gold futures on the COMEX rose over 2%, surpassing the $5100 mark, with expectations for a strong year ahead, as central banks continue to purchase gold at an average of 60 tons per month, significantly higher than the pre-2022 average of 17 tons [6][8]. - HSBC noted that the recent rise in gold and silver prices is closely linked to geopolitical issues, while the weakening dollar has also supported commodity markets [6][7]. - Goldman Sachs raised its 2026 gold price forecast from $4900 to $5400 per ounce, citing persistent demand for hedging against macroeconomic and policy risks [7][8]. Group 2: Silver Market Dynamics - Silver futures experienced a significant increase, with prices rising over 50% this month, potentially marking the best monthly performance since December 1979 [11]. - The supply shortage in the silver market is a key factor driving prices higher, with analysts suggesting that the current upward trend may still be in its early stages [10][11]. - The World Silver Association indicated that 2025 will mark the fifth consecutive year of global silver supply shortages, further enhancing silver's appeal as an alternative to gold for investors [11][12].