In a report, Bertram Lai of CGS International pointed out that the continued rise in gold and other precious metals could lead to volatility in the stock and bond markets. He stated that gold and other precious metals appear to be in a self-reinforcing feedback loop, with their price movements themselves becoming news drivers of price changes. This could affect investors' perceptions of fiat currency-related risks and could lead to a widening of the bond risk premium at the longer end of the yield curve. He added that if the bond risk premium undergoes a substantial repricing in the coming months, it could trigger a significant upheaval in the stock and credit markets. (Jinshi)