Core Insights - The unprecedented surge in gold and silver prices reflects deep-rooted skepticism towards fiat currency systems, with gold surpassing $4000 and silver increasing by over 70% [2][3] Group 1: Market Dynamics - The significant price increases in 2025 are driven by a combination of heightened demand for safe-haven assets and global monetary easing, with gold's price rising nearly 60% and silver over 70% [3][5] - The current market rally is primarily influenced by the reassessment of safe-haven assets amid turmoil in the global monetary system, rather than technical indicators [4] Group 2: Drivers of Gold and Silver Prices - The expectation of Federal Reserve interest rate cuts, escalating US-China trade tensions, and geopolitical risks have collectively contributed to gold's "safe-haven premium" [5] - The continuous net increase in global central bank gold reserves for 18 months has directly supported gold prices breaking the psychological barrier of $4000 [5] Group 3: Silver's Market Position - Silver's explosive growth, with over 70% of its price increase attributed to industrial demand, indicates a significant shift in market logic, positioning silver as a "flexible amplifier" in the current bull market [6] Group 4: Short-term Adjustments - The recent 5% drop in gold prices on November 21 has sparked market panic, but this adjustment is viewed as a profit-taking phase rather than a trend reversal [7] - Historical patterns suggest that a bull market peak is typically accompanied by signals such as the resumption of Fed rate hikes, formation of global deflation expectations, and a sharp decline in industrial demand, none of which are currently present [7] Group 5: Long-term Outlook - Gold's long-term value is evolving beyond its traditional safe-haven role, becoming a "currency anchor" and "strategic reserve asset" amid deepening cracks in the dollar credit system and accelerating de-dollarization [11] - A recommended investment strategy includes a "core + satellite" approach, with core positions in gold ETFs to hedge systemic risks and satellite positions in silver futures to capture industrial demand benefits [11]