RT☁777 Today's analysis:

1.29 Gold market shows clear differentiation; breaking 5500 is truly hardcore, silver leads the rally internally, and the minor adjustments in the external market are just petty.
London gold hits a new high of 5589.3 USD, current price is 5532.8 USD, up 21.7% at the start of the year. Shanghai gold soars 7.25% to 1243.6 RMB/gram; Shanghai silver leads with a 5.75% increase to 30105 RMB/kg. London silver slightly dips 0.19% to 117.49 USD. The gap between internal and external prices has finally narrowed. Don’t be misled by these small fluctuations in the external market.

The reason gold can keep reaching new highs is not accidental. Central banks are buying gold like crazy, with 896 tons purchased globally in January, a new monthly high. Russia and China are leading the increase; Russia bought 85 tons in one month, and China has been adding for 14 consecutive months. Under de-dollarization, gold is becoming a solid hard currency. With the Fed’s rate cut already certain, holding costs are falling to the bottom. As the dollar underperforms, this rally is far from over. If you think it’s overbought and will fall, you simply don’t understand the fundamentals. Minor adjustments at high levels are profit-taking, and dips are buying opportunities.

The internal market’s lead in silver is supported by strong fundamentals. Silver has become a strategic resource comparable to rare earths domestically, with strict export controls. The demand from photovoltaics and new energy vehicles is high, and domestic spot supply is insufficient. The slight decline in external prices is minor; it’s mainly due to weaker overseas manufacturing data and some profit-taking after previous gains. This is not a fundamental reversal. When internal and external funds move together, external prices will eventually follow internal gains. These fluctuations are not sustainable, so avoid precious metals.

For trading, don’t overcomplicate. Look for gold buying opportunities around London gold 5400-5450 USD and Shanghai gold 1200-1220 RMB/gram. Don’t chase high above 5550 USD. For silver, focus on Shanghai silver 29000-29500 RMB/kg and London silver 115-117 USD support levels. Buying on dips is the smart move. Currently, keep positions within 30%. Don’t hold heavy positions or chase highs; those who chase high will end up as bagholders.

In the end, the long-term bull case for gold and silver remains intact. Gold is supported by central banks and macro fundamentals, with a stable trend suitable for long-term conservative investors. Silver is more elastic, supported by policies and strong demand. Those who can withstand volatility should buy on dips. If you don’t understand the trend and keep operating blindly, don’t get involved, or you’ll be washed out by the market!#金价突破5200美元