The profit margin of precious metals trading is determined by volatility, costs and tools. This article analyzes three levels of logic: macro-driven two-way fluctuations provide basic space, costs such as spreads and overnight interest erode actual returns, and leverage enlarges the space while amplifying risks; traders need real-time quotations, stable execution, risk control tools and market charts to take over opportunities, and establish risk boundaries that match funds, make good use of stop losses to control positions, avoid emotional pursuit of orders, and keep profit margins within a controllable framework.