分析师：白银风暴存在外溢风险，铂、钯市场已拉响警报

Core Insights - The article highlights several indicators that may suggest a normalization of the silver market, including a narrowing London-New York price spread, a return of silver leasing rates to historical averages, and a stabilization of physical delivery premiums [1] Group 1: Market Indicators - The London-New York price spread has narrowed to below $1 per ounce [1] - Silver leasing rates have decreased to historical average levels [1] - Physical delivery premiums have returned to normal transportation and insurance cost levels [1] Group 2: Investment Trends - There is a slowdown in ETF inflows into silver [1] - Silver is reverting to typical transportation methods between trading centers, moving from air freight to more economical sea freight [1] Group 3: Market Dynamics - The current silver short squeeze may extend to other metal markets, with signs of tension already appearing in gold and palladium markets [1] - The silver short squeeze could trigger similar dynamics in other precious metals, particularly those with industrial applications and limited supply [1] - Metals mentioned in the Section 232 investigation (silver, platinum, and palladium) may be particularly susceptible to spillover effects [1]