Group 1 - The core viewpoint of the article highlights a significant rebound in precious metal prices on February 3, with silver rising over 5% and gold recovering above $4,800 per ounce, following a major sell-off the previous week [1] - The sell-off was attributed to liquidity pressures and position adjustments rather than fundamental changes in the precious metals market, despite a shift in expectations regarding Federal Reserve policy due to Kevin Walsh's nomination [1] - Analysts from StoneX and Societe Generale noted that the extreme price volatility was not driven by fundamental factors but rather by a deleveraging event, indicating that the underlying support for precious metals remains intact [1] Group 2 - On February 2, the iShares Silver Trust, the world's largest silver ETF, saw a significant increase in holdings by 1,023.23 tons, fully recovering the amount it had reduced since January 21 [2] - Following this, domestic precious metals markets also experienced a rebound, with the main silver contract opening above the limit down and the main gold contract quickly rising, reducing its decline from over 3% to less than 1% [2]