贵金属行情“风向”变了

Group 1 - The core viewpoint of the articles highlights a shift in consumer and investment preferences towards silver and platinum as alternatives to gold, driven by significant price increases and industrial demand [1][2][3] - In the first half of 2025, spot silver prices rose over 25%, while platinum prices surged nearly 50%, both outpacing gold [1][2] - The demand for silver and platinum jewelry has increased, particularly among younger consumers, as these metals offer a more affordable option compared to gold [2][3] Group 2 - The rapid price increase of silver and platinum is attributed to supply shortages and the substitution effect from gold, with industrial demand for silver growing in sectors like electric vehicles, AI, and semiconductors [3][4] - The global supply of platinum decreased by 10% in Q1 2025, while demand rose by 10%, leading to an expanding supply-demand gap [3] - Market expectations of a prolonged interest rate cut cycle by the Federal Reserve and ongoing geopolitical risks are contributing to the rising prices of precious metals [4]