银价再冲高位今年涨超20%，需留意市场波动

Group 1 - The core viewpoint is that silver prices have surged due to safe-haven demand, reaching a new high since October 2012, with a year-to-date increase of over 20% as of June 5 [1][2] - Analysts believe that the improvement in macroeconomic indicators, such as the rise in China's manufacturing PMI and new orders, will directly boost silver demand as the economy recovers [2][3] - Silver is viewed as a more elastic alternative to gold, especially in the context of easing global trade tensions, making it an attractive investment opportunity [2] Group 2 - Various investment channels for silver are available, including physical silver, silver futures, silver ETFs, and silver mining stocks, allowing investors to choose based on their risk preferences and investment goals [3] - Physical silver, such as bars and coins, is suitable for long-term holding, but investors should be aware of limited repurchase channels and storage costs [3] - Financial derivatives like silver futures offer high leverage and capital efficiency, but they also come with significant risks, while silver ETFs provide convenience and lower fees but may have tracking errors and overall market risks [3]