The precious metals boom is still ongoing, with gold approac...

The precious metals boom is still ongoing, with gold approaching the 5,000 mark and silver about to break 100, making my thoughts increasingly conflicted!

Holding gold and holding #Bitcoin has been my consistent view since 2025. However, the wave of speculation in silver that later drove the non-ferrous metals sector has made me a bit concerned.

Logically, silver inherits the risk premium of gold while also introducing risks to gold's upward movement. As the precious metals boom continues, gold's fundamentals, its safe-haven properties, align well with the current redefinition of monetary attributes.

However, for silver, its fundamentals are not strong; industrial demand exists but isn't very robust. As short-term bubbles expand, it will inevitably lead to rapid exposure of its own risks, and could even trigger significant price fluctuations. Silver's volatility may cause a collective plunge in other non-ferrous metals, which might severely undermine confidence in gold's rise.

Secondly, investors or institutions driven by FOMO (Fear of Missing Out) in precious metals such as silver, copper, and palladium are betting on the logic that the rapid advancement of infrastructure in the AI era will increase demand for various non-ferrous metals. While the logic is sound, such speculation will inevitably raise the cost of AI infrastructure, thereby accelerating the bubble growth within the entire AI industry and bringing risks more quickly.

Therefore, facing the current rise in silver prices has left me somewhat conflicted. I am quite concerned that silver could lead to excessive FOMO in non-ferrous metals other than gold, triggering market risks that may inversely affect the future development of both the gold and AI markets.