Group 1 - The core viewpoint of the article highlights the volatility in precious metal prices, particularly silver, which saw a significant drop of nearly 18% on February 5 after a brief rebound [1] - Market sentiment is fluctuating between extreme enthusiasm for bottom fishing and extreme panic for profit-taking, indicating a lack of stability [1] - Historical experience suggests that new investment opportunities in the market may only emerge once volatility stabilizes [1] Group 2 - On February 2, the implied volatility of silver futures options reached as high as 148%, and even after the market opened on February 3, volatility remained above 100%, compared to an average of 27% for 2025 [1] - The release of risk in silver futures did not equate to a complete clearing of risks, as indicated by the high volatility levels [1] - Similarly, the implied volatility for gold futures options was recorded at 40% on February 3, significantly higher than the average of 19% for the entire year of 2025 [1] - Until volatility fully calms down, precious metals are considered risky investments, despite their apparent attractiveness [1]