Precious metals surged sharply during early trading on February 24 Beijing time. Spot gold broke through $5,240 per ounce, reaching a three-week high, while New York gold futures exceeded $5,260 per ounce, rising by nearly 0.3% and 0.7% respectively.

Spot silver climbed over 0.6% to above $88 per ounce, and New York silver futures increased by 2% intraday, trading above $89 per ounce.

During the Spring Festival holiday, global capital markets mostly saw gains, with stock indices in countries such as South Korea, the UK, and France hitting record highs. International gold, silver, and oil prices rose significantly, with silver surging nearly 17%.

According to reports, economist Peter Schiff predicted that gold prices could reach $7,000, replacing the US dollar as a new anchor asset. He attributed this trend to central banks increasing gold reserves and the expanding US fiscal deficit. Schiff suggested that the surge in gold prices signals a compound crisis for the US, surpassing the 2008 financial crisis, driven by sovereign credit risks, US Treasury bonds, and dollar instability. Additionally, he claimed that the new Federal Reserve Chair might become a puppet of former President Trump, labeled cryptocurrencies as a Ponzi scheme, and advised investors to continue increasing their holdings of gold and silver.

Tensions between the US and Iran continue to escalate. A new round of negotiations between the two countries is scheduled for February 26 in Geneva, Switzerland. Meanwhile, the US has increased military pressure, with its largest aircraft carrier arriving at a key base in the eastern Mediterranean. Multiple US military aircraft have also landed at Israel's Ben Gurion Airport.

Reports indicate that former President Trump was considering a preliminary strike against Iran, followed by a larger military operation in the coming months to force Iran into compliance with US demands. However, disagreements have emerged between Trump and senior US military officials. On February 23, sources revealed that Chairman of the Joint Chiefs of Staff General Dan Cain advised Trump and other officials that military action against Iran could entail significant risks, potentially leading to a prolonged conflict. Later that day, Trump denied these reports via social media, calling the claims "100% wrong."

In response, Iran's Foreign Ministry spokesperson stated on February 23 that there is no such thing as a "limited strike," and any attack on Iran, regardless of scale, would be considered aggression, with consequences for the aggressor. According to an unnamed Iranian official, Iran is prepared to make concessions on nuclear issues, offering the US opportunities for major investments and profits in Iran's oil industry.