金银创新高！白银现货价格逼近万元大关，有望跑赢黄金成投资黑马

Core Viewpoint - The significant rise in gold and silver prices is driven by expectations of interest rate cuts and geopolitical risks [1][3]. Economic Data - The annual Personal Consumption Expenditures (PCE) price index for July remained unchanged at 2.6%, while the core PCE price index slightly increased to 2.9%, aligning with analyst expectations [8]. - Traders predict an 87% chance that the Federal Reserve will lower borrowing costs by 25 basis points at the meeting ending on September 17 [8][9]. Gold and Silver Market Trends - Gold futures for December reached a record high of $3,556.87 per ounce, while December silver futures hit a 14-year high of $41.638 per ounce [4]. - The demand for silver is increasing, particularly from the Saudi Central Bank, which invested $30.5 million in iShares Silver Trust and nearly $10 million in Global X Silver Miners ETF [2][15]. Institutional Interest - The interest in silver is growing among institutions, with notable investments from the Saudi Central Bank, indicating a shift in investment dynamics [2][16]. - Analysts suggest that the relatively low investment in silver by Saudi Arabia compared to its tech sector highlights silver's potential as an investment opportunity [16]. Market Sentiment - Concerns over the independence of the Federal Reserve have increased demand for gold as a safe-haven asset [10][11]. - Geopolitical risks continue to support the bullish trend in gold prices [12]. Silver vs. Gold - The gold-silver ratio has decreased significantly from a peak of over 104 in April but remains above 86, indicating that silver may still have room for growth compared to gold [17]. - Historically, the gold-silver ratio fluctuates between 50 and 60, suggesting that silver could be undervalued at current levels [17]. Conclusion - The current market dynamics, including institutional interest in silver and expectations of interest rate cuts, present potential investment opportunities in both gold and silver [1][2][9].