Weekend market open leaves you stunned—this round of precious metals rally is even more ferocious than many cryptocurrencies.

Gold surged to $4,550 per ounce, silver broke through the $79 mark directly, and platinum joined the frenzy. A single day soared 10%, and this year gold has surged 70%. Where is the safe-haven asset everyone talked about? This trend is comparable to extreme market conditions.

**What exactly is happening?**

Last week, on Christmas, the US and European markets were on holiday, liquidity was thin. Such times are actually prone to triggering intense volatility—small amounts of capital can drive big moves. Plus, at year-end, institutions are rushing to boost performance, and hot money floods into precious metals as safe havens, resulting in this crazy scene.

But is this really just a technical breakout? Not necessarily. The market is divided into two camps:

Bullish side: The Federal Reserve will definitely cut interest rates next year, inflation can’t be contained, and central banks have to loosen monetary policy. Gold is naturally an inflation hedge, and now at $4,500 an ounce, it’s not considered expensive at all.

Bearish side: Why not run if it’s rising so much? Technical indicators are already overbought, and the weekly chart looks dizzying. Once risk is released, a sharp decline could be frightening.

**Next week’s pitfalls are many**

Wednesday at 3 a.m., the Federal Reserve meeting minutes will be released. Last time, officials still insisted “not so soon to cut rates,” will they change their tone this time? Don’t underestimate this report; it can directly influence the future direction of gold.

On the same day at 9:30 p.m., the US initial jobless claims data will come out. How is the employment market doing? This directly affects the Fed’s attitude. If employment data shows cracks, expectations for rate cuts will rise, and gold still has room to go higher. Conversely, there’s a risk of a pullback.

Friday at 10:45 p.m., the manufacturing PMI final. Whether the economy is holding up or not will be revealed by this number.

**Why is silver rising even more fiercely than gold?**

That’s an old question. Silver has both safe-haven and industrial attributes, so its volatility is greater when the market moves. If gold rises 10%, silver might go up 15%. Conversely, during declines, it’s just as painful. Currently, with expectations improving for tech stocks, new energy, and other industries, the industrial demand for silver has more room for imagination, so capital is more aggressive.

Honestly, silver is like a leverage amplifier; not everyone can handle this kind of volatility.

**The US stock market isn’t quiet either**

Tech stocks were scared by the AI bubble a while ago, but they’ve quietly climbed back. Nasdaq also wants to boost performance by year-end, which results in AI concept stocks fluctuating repeatedly. There’s a seesaw relationship between precious metals and US stocks—when stocks rise, metals are usually pressured; when stocks fall, safe-haven buying in metals increases.

Recently, both sides are rising simultaneously, indicating the market is digesting the dual game of rate cut expectations and safe-haven demand.

**A few piercing questions**

First, is this crazy rally in gold and silver just a temporary rush by institutions to boost year-end performance, or is a big trend really coming?

Second, will the dollar really cut rates next year? If rate cuts do happen, is current gold at $4,500 an ounce considered a high entry point?

Third, silver is rising more fiercely than gold—should you chase it? It offers higher returns but also means greater risk.

(For those who shouted “gold will top at 2000 in 2022,” does your face still hurt? The market loves to slap back.)

**What should ordinary investors do now?**

Short-term players can wait for next week’s data deluge, especially the Fed meeting minutes. If officials turn dovish, precious metals have room to accelerate higher; if they remain hawkish, watch out for technical pullbacks.

For long-term holdings, don’t over-allocate. If a real correction happens, dropping from 4500 to 4200 may seem just a few percentage points, but that feeling in your heart won’t be pleasant.

For spectators, just treat it as a historical script—open the K-line chart, and every day has a new story.

**The final soul-searching question**

If gold really hits $5,000 per ounce in 2025, would you dare to buy now or run away quickly? This choice depends on your confidence in the future market and your risk tolerance.