Rather than chasing black swan events, it's better to recognize that golden and silver opportunities are emerging right before our eyes.

Why do I say this? The logic is actually quite straightforward.

First, global liquidity has not truly tightened. Although major central banks are verbally signaling policy adjustments, the underlying money-printing machines have never fully stopped. In the context of continuous dilution of fiat currency credit, gold and silver, as hard assets, are being massively allocated by institutions and high-net-worth individuals. This is not hype; it’s an inevitable choice in an asset-starved era.

Second, the supply dilemma facing silver is more severe than most people imagine. The demand for silver in emerging industries like photovoltaics and chips has surged, but production is hindered by multiple factors—new regulations have tightened export channels, mining faces environmental pressures, and the entire supply chain is becoming unbalanced. On the supply side, bottlenecks exist; on the demand side, it continues to grow. This contradiction is unlikely to be resolved in the short term.

Finally, the actions of central banks in stockpiling reveal the clues. It’s not just retail investors bottom-fishing in precious metals; central banks around the world are also accelerating their purchases. What does this indicate? It suggests that institutions have reached some consensus—that the strategic value of precious metals is being re-evaluated.

What should ordinary investors do? First, pay attention to the movements of leading companies with mineral reserves; second, consider directly participating through tools like silver funds. Short-term volatility should not be overemphasized; the intrinsic logic of this trend is already sufficient to support a shift in expectations.