Core Viewpoint - The article discusses the recent surge in gold and silver prices, highlighting the factors driving this trend, including liquidity expectations and geopolitical tensions [1][3]. Group 1: Gold and Silver Price Movements - On February 9, gold prices rose over 1%, reaching $5017 per ounce, while silver prices increased nearly 3% to $79 per ounce [1]. - Year-to-date, London gold has increased by 16.20%, and London silver has risen by 11.57% [2]. Group 2: Market Analysis and Predictions - According to the chief analyst of non-ferrous metals at CITIC Securities, the upward trend in gold prices is expected to continue, driven by liquidity expectations and geopolitical conflicts providing safe-haven demand [3]. - The analyst anticipates a potential recovery in market demand over the next 6 to 12 months, supported by ongoing liquidity release and rigid supply conditions, which may lead to new highs in metal prices [3]. Group 3: Central Bank Gold Reserves - As of January 2026, the People's Bank of China has increased its gold reserves for the 15th consecutive month, although the increase of 40,000 ounces is the lowest since the current round of accumulation began in November 2024 [3]. - This trend reflects a global shift among central banks to increase gold allocations as a hedge against dollar asset volatility and geopolitical risks, emphasizing the importance of reserve asset security and stability [3].