We are only in the early stages of gold and silver; if gold resets, 20,000 is the target.

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The 50-year cup and handle breakout in silver won’t end so quickly in just a few months; the bull market is still very long.

Additionally, the holdings and value of silver ETFs are severely underestimated. We are still in a very early stage.

Most investors are still significantly underallocated to silver through ETFs: - Currently, silver ETFs account for only 0.45% of the total global ETF assets. - Compared to the peak of the previous cycle (2011), silver allocations briefly reached 1.8%-1.9%, which is four times the current level.

Even after a bull run, silver’s allocation ratio remains close to historical lows rather than highs.

There is a view that the U.S. will revalue gold to dilute debt, with gold prices expected to reach $20,000 and silver prices expected to reach $800.

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