“金银过山车”引爆大佬警告：所有大宗商品都只是投机罢了！

Group 1 - The core viewpoint of the article emphasizes the volatility of gold and silver prices, highlighting that despite recent drops, gold has increased by 70% and silver by 160% over the past year [1][2] - Hank Smith, co-CIO of Haverford Trust, warns investors to be cautious with precious metals, suggesting that the recent price movements are driven by momentum investing, which focuses on buying assets that are currently rising [1][2] - Smith argues that investing in income-generating assets, such as dividend stocks, is a wiser choice compared to commodities like gold and oil, which do not provide dividends or interest [2][3] Group 2 - The article discusses the shift in commodity trading, noting that many investors now participate through ETFs rather than holding physical assets, which has made commodity trading more speculative [2][3] - Smith critiques the common belief that gold serves as a store of value against inflation, stating that historically, gold has underperformed compared to stocks, especially when dividends are reinvested [3][4] - Cathie Wood, a prominent fund manager, also warns that the recent surge in gold prices may represent a speculative bubble that is likely to burst, indicating that parabolic price movements often signal a trend reversal [3][4]