Analyst: The current fluctuations in gold and silver prices are the result of a combination of technical adjustments and changes in policy expectations.

International gold and silver prices experienced significant fluctuations on the 6th. The spot price of gold dropped by over 2% at one point on the 6th, but later rebounded to surpass $4950 per ounce, with an increase of nearly 4%; the spot price of silver dropped by nearly 10% at one point on the 6th, but later rebounded to surpass $77 per ounce, with an increase of over 9%. From the beginning of the year until now, the international gold price has increased by nearly 15%, while the international silver price has increased by over 8%. Market analysts believe that in the context of changing global liquidity expectations and highly concentrated speculative funds, the volatility in gold and silver prices reflects an increase in market volatility in precious metals. This round of gold and silver price fluctuations is the result of a combination of technical adjustments and changes in policy expectations, indicating that the investment logic that supported prices in the past is changing.