Silver has driven precious metals to continue their疯狂上涨. I mentioned that the normal price ratio between gold and silver is 1—80. Based on this calculation, gold still has 30% room for上涨. The problem is that a大涨 in gold would weaken the monetary发行权, which is unacceptable to both China and the US. Secondly, international capital is very likely in its final狂欢. All commodities and financial derivatives, once entering疯狂上涨, require冷静分析 and proper看待. This could be a trap or the final主升浪. In simple terms, it is the最后的挣扎. Therefore, I personally believe that precious metals have reached their peak and are at risk of回调 at any time. The next trend will be RMB appreciation, which will continue for two to three years.