Gold and other precious metals are experiencing another round of wild surges, accompanied by news headlines with click-through rates soaring—almost as if missing out today means never turning things around. But behind this market trend, what's truly worth pondering isn't whether to chase or not, but what it is really saying.

Careful observation of recent movements shows that the fluctuations are frighteningly large, almost indistinguishable from some meme coins. If you still call this a safe-haven demand, you're somewhat deluding yourself. Frankly, this is just a carnival for speculators. The market is wildly oscillating, emotions are repeatedly tugged, and the game of chasing gains and cutting losses keeps repeating.

How can genuine safe-haven assets be so tumultuous? In this wave of market activity, FOMO (Fear Of Missing Out) has overshadowed all rationality, and the game of hot potato continues.