[Analysts Warn: Prices of Silver and Other Precious Metals Are on the 'Edge of a Cliff'] According to Jinshi reports, as the prices of silver and other precious metals continue to soar, analysts have warned that precious metal prices are now on the 'edge of a cliff,' with correction risks accumulating. Capital Economics analysts wrote in a report: 'Precious metal prices have risen to levels that we believe are difficult to justify based on fundamentals.' They predict that as the frenzy around gold subsides, silver prices could fall back to around $42 by the end of next year. UBS has warned that the current rapid rise in precious metal prices is largely due to insufficient market liquidity—indicating a high likelihood of a sharp pullback. UBS emphasized that the short-term risks in precious metal trading have significantly increased, and given that gold prices have reached new highs, the risk of short-term investors taking profits is also substantial. Thin liquidity at the end of the year 'could exacerbate price volatility,' making short-term trends harder to interpret. Wang Yanqing, Chief Precious Metals Analyst at CITIC Futures, stated that from a fundamental perspective, there have been no significant changes in the factors affecting precious metals and base metals in the short term. While long-term bullish factors such as 'de-dollarization' exist in the market, the rapid and short-term price surge has clearly over-traded these long-term bullish factors. Speculative sentiment is running high, posing potential risks to the stable operation of the market.