I recently took a look at the precious metals market, and it's quite interesting. Gold has been fluctuating between $4,600 and $4,800, and silver has also risen along with it, but the market is becoming less sensitive to the Middle East situation. Previously, every time Trump made a statement, it would trigger a market move; now it seems everyone is used to it, and the volatility has actually decreased.

My feeling is that, in the short term, precious metals may not have a strong upward logic. The central bank's gold-buying activities earlier supported the price floor, but to break through higher, new catalysts are needed. Instead of chasing the highs, it's better to be flexible within the $4,400 to $4,900 range, taking small positions to test the waters for a more stable approach.

I checked ETF holdings, and there is still some demand for gold and silver allocations, but CFTC positions are decreasing, indicating that major institutions are gradually reducing their holdings. This week, focus on the Iran situation, oil price trends, and US PPI data, as these might be the next main trading themes. Currently, the precious metals market is just waiting for a clear direction to emerge.