Core Viewpoint - Precious metals have long held a significant position in global asset allocation due to their unique safe-haven properties, offering various investment channels for investors to participate flexibly and conveniently [1] Group 1: Physical Precious Metal Trading Channels - Physical precious metals primarily include gold and silver, representing the oldest form of investment in this category with global liquidity [3] - Investors can trade physical gold and silver through legitimate channels such as commercial banks, branded gold shops, and qualified online precious metal platforms [3] Group 2: Banking Precious Metal Business - The banking sector's precious metal investments mainly consist of "paper gold" and "paper silver" account products, typically issued by commercial banks with strong creditworthiness [4] - Due to increased price volatility in precious metals, many banks have issued risk warnings and suspended new account openings and regular investment plans for certain precious metal businesses [4] Group 3: Electronic Trading Platforms for Precious Metals - Electronic trading encompasses spot gold, spot silver, and gold and silver futures, allowing investors to conduct two-way trading based on price trends, often with leverage [5] - Spot gold and silver are among the most actively traded electronic products globally, with specific classes of members in the Hong Kong Gold and Silver Exchange providing trading services [5] - The platform "Bailihao" has a long operational history in financial services, covering multiple global markets and emphasizing efficiency and security in fund transactions, regulated by institutions such as ASIC and SCB [5]

Group 1: Market Trends - The "golden alternative" market is gaining traction, with silver and platinum becoming popular in the precious metals market [1] - Silver prices have surged, reaching over $37 per ounce in June, marking a nearly decade-high [1] - Platinum futures have also risen, hitting $1,447.9 per ounce, the highest since September 2014, with a year-to-date increase of over 50% [1] Group 2: Consumer Behavior - Consumers are shifting from gold to platinum jewelry, with some retailers reducing gold display space in favor of platinum [1] - Sales of silver investment products, such as silver bars and ingots, have seen a year-on-year increase of over 40% [1] Group 3: Investment Insights - Analysts suggest that the recent rise in platinum prices may stabilize, advising investors to focus on long-term asset allocation rather than short-term trading [3] - The demand for silver is driven by industrial needs in sectors like electric vehicles, AI, semiconductors, and 5G, alongside its appeal as a hedge against economic uncertainty [3][2] - A significant increase in new silver investment accounts and trading volume has been observed since May, indicating growing investor interest [3] Group 4: Investment Accessibility - The barriers to investing in silver are relatively low, with various channels available for domestic investors, including bank silver accounts and silver ETFs [4]

Group 1 - The core viewpoint is that silver prices have surged due to safe-haven demand, reaching a new high since October 2012, with a year-to-date increase of over 20% as of June 5 [1][2] - Analysts believe that the improvement in macroeconomic indicators, such as the rise in China's manufacturing PMI and new orders, will directly boost silver demand as the economy recovers [2][3] - Silver is viewed as a more elastic alternative to gold, especially in the context of easing global trade tensions, making it an attractive investment opportunity [2] Group 2 - Various investment channels for silver are available, including physical silver, silver futures, silver ETFs, and silver mining stocks, allowing investors to choose based on their risk preferences and investment goals [3] - Physical silver, such as bars and coins, is suitable for long-term holding, but investors should be aware of limited repurchase channels and storage costs [3] - Financial derivatives like silver futures offer high leverage and capital efficiency, but they also come with significant risks, while silver ETFs provide convenience and lower fees but may have tracking errors and overall market risks [3]