Caught between technical factors and emotional pressures, gold and silver prices fluctuated, impacting Asian stock markets.

According to TechFlow TechFlow on February 2nd, citing data from Jinshi Data, Seo Sang-Young, an analyst at Mirae Asset Securities in Seoul, stated that the increased volatility in gold and silver prices caused a shock to the commodity market, triggering liquidity shocks and margin calls among institutional investors, which in turn led to a sharp decline in the stock market. Christopher Wong, a strategist at OCBC Bank in Singapore, said: "The continued sell-off in precious metals reflects a combination of technical and emotional pressures. Although prices have declined after a correction, they remain highly sensitive to the dollar's performance, yield repricing, and uncertainty surrounding Federal Reserve policy; meanwhile, margin-related passive selling and triggered stop-loss orders further amplified the decline."