Huatai Futures: Gold and silver are expected to maintain a trading range pattern.

In terms of geopolitics, Iranian Foreign Minister Aragchi clarified Iran's official position on the talks with the United States in Oman, stating that the negotiations will be held in the Omani capital of Muscat at around 10 am on February 6th. The US had earlier rejected Iran's proposal to change the originally scheduled meeting location from Istanbul, Turkey to Oman. This impasse has raised concerns throughout the entire Middle East region, fearing that Trump may resort to military action. In terms of economic data, the US added 22,000 new jobs in January according to ADP, well below the market's expectation of 48,000 and a downward revision from the previous 41,000 to 37,000. The US Bureau of Labor Statistics announced that they will release the January nonfarm employment report on February 11th, the job vacancy data on February 5th, and reschedule the release of the January CPI to February 13th. Currently, silver and gold prices are stabilizing together, with a similar macroeconomic logic; it is expected that silver prices will also remain in a volatile pattern.