比黄金更疯！白银暴涨35%创13年新高

Group 1 - Silver prices have surged to a historical peak of $39 per ounce, marking the highest level since 2011, with a year-to-date increase of over 35% as of July 14, 2025, compared to gold's 27% increase [2][3] - Retail demand for silver products has seen a significant increase, with sales of silver bars and coins rising by 40% year-on-year, indicating a strong market interest [4] - The gold-silver ratio has rapidly corrected, dropping from over 100 in April-May to around 87, suggesting that silver was previously undervalued and has potential for further gains [4] Group 2 - The photovoltaic (PV) industry is the largest driver of silver demand, with global PV installations expected to exceed 600 GW in 2024, leading to a substantial increase in silver consumption [5] - Semiconductor and electric vehicle sectors are also contributing to silver demand, with the latter showing a 21% to 71% increase in silver usage per vehicle compared to traditional cars [5] - Global silver demand is projected at approximately 36,700 tons in 2024, while supply is only around 31,700 tons, resulting in a supply deficit of 5,000 tons, which is expected to widen in 2025 [5] Group 3 - Investment banks are divided in their outlook for silver, with some raising price forecasts while others warn of a potential end to the current bullish trend due to signs of reduced investment demand [6] - Technical analysis suggests a bullish outlook, with potential price targets of $40 and $50 if key resistance levels are broken [6] - The industrial demand for silver has risen to 70% of total demand, indicating a shift from its traditional role as a safe-haven asset to a growth asset driven by technological advancements [8] Group 4 - The Federal Reserve's monetary policy is a critical variable for silver prices, with expectations of interest rate cuts potentially boosting silver prices further [8] - The volatility of silver prices is a concern, with historical data showing that silver's volatility is about 1.5 times that of gold, necessitating risk management strategies for investors [9] - The ongoing industrial revolution in silver is reshaping the precious metals market, with increasing ETF holdings and a return to historical gold-silver ratio averages indicating a potential revaluation driven by green energy [10]