光伏产业发展推动银价上涨趋势

Core Viewpoint - The international silver market is experiencing a bullish trend, supported by lower interest rates and strong demand from the photovoltaic industry, despite some geopolitical risks limiting further price increases [3]. Group 1: Market Conditions - The Federal Reserve announced a 25 basis point interest rate cut in September, the first since December of the previous year, indicating potential further cuts within the year [3]. - Lower interest rates reduce the opportunity cost of holding non-yielding assets, providing support for silver prices [3]. - The international silver is currently trading above $41.95, with a recent high of $42.16 and a low of $41.62 [1]. Group 2: Demand Factors - The rapid development of the photovoltaic industry continues to drive demand for silver, as it is a core material in this sector [3]. - Recent market surveys indicate that the Saudi sovereign wealth fund has been increasing its holdings in silver ETFs, reflecting confidence from large institutional investors in the long-term value of precious metals [3]. Group 3: Geopolitical Influences - A reduction in geopolitical risks has limited the safe-haven premium for silver, with easing tensions in the Russia-Ukraine conflict contributing to a decrease in risk sentiment [3]. - U.S. President Trump expressed that the resolution of the Russia-Ukraine conflict is more complex than expected, but he remains hopeful about recent positive developments [3]. Group 4: Technical Analysis - Key support and resistance levels for silver are identified at $41 and $40.5, with expectations of high-level fluctuations within a bullish trend [3]. - The market is advised to focus on resistance levels at $42.00 and $42.30, while support levels are noted at $41.25 and $40.90 [3].