白银价格突破51美元，创亨特兄弟逼空以来最高纪录！

Core Insights - Spot silver prices have surpassed $50, reaching the highest level since the Hunt brothers' short squeeze in the 1980s, driven by increased demand for safe-haven assets and tight supply in the London precious metals market [1] - Silver has seen a year-to-date increase of over 70%, outperforming gold and becoming the biggest winner in the precious metals market [1] - Concerns over U.S. fiscal risks, an overheated stock market, and threats to the independence of the Federal Reserve have led investors to seek safe-haven assets [1] Group 1: Market Dynamics - The phenomenon known as "devaluation trade" is pushing investors towards safe assets like Bitcoin, gold, and silver while withdrawing from major currencies, reflecting concerns about inflation and unsustainable fiscal deficits eroding the value of financial securities [3] - Silver and gold typically move in sync, showing a strong negative correlation with the U.S. dollar and Federal Reserve interest rates, but silver exhibits greater volatility and has a passionate following among retail investors [3] - Historical surges in silver prices occurred in 2011 and 2020, with the latter seeing a 140% increase in under five months, fueled by social media movements like silversqueeze [3] Group 2: Supply and Demand Factors - The London silver market is experiencing unprecedented tightness, with borrowing costs for silver skyrocketing due to concerns over potential U.S. tariffs on silver, leading to a depletion of inventories [4] - The price of silver futures in New York is currently below the benchmark price in London, which is an unusual reversal of the typical positive price premium [4] - Silver is not only an investment asset but also widely used in industrial applications, such as solar panels and wind turbines, which account for over half of silver sales, with demand expected to exceed supply for the fifth consecutive year by 2025 [5] Group 3: Historical Context - In 1980, the Hunt brothers attempted to monopolize the global silver market due to fears of inflation, accumulating over 200 million ounces of silver and pushing prices above $50, before a subsequent crash to below $11 [6]