价格再创新高，白银的上限在哪里？

Core Viewpoint - COMEX silver futures prices have reached a new high of $54.445 per ounce, reflecting an increase of over 80% year-to-date, outperforming gold by approximately 20% [1][2]. Price Trends and Predictions - Various institutions have differing predictions for silver prices, with Citibank forecasting $55 per ounce in the next three months, while more optimistic forecasts suggest potential targets of $100 by 2026 from Solomon Global and $60 from Metals Focus [2][3]. - The overall market sentiment towards silver remains optimistic, with several institutions projecting significant price increases in the coming years [2][3]. Volatility and Market Dynamics - The volatility of silver prices has reached historical highs, with a maximum drawdown of 15% and an annualized volatility exceeding 40% in 2025 [4][5]. - The past five years have shown significant fluctuations in silver prices, with 2025 experiencing the highest annual increase of 82% [5]. Investment Strategies - For conservative investors, strategies include investing in silver ETFs and physical silver bars for long-term asset preservation [6][8]. - Balanced investors may consider spot or futures trading for moderate gains, while aggressive investors can engage in leveraged trading and options for higher returns [6][7][8]. - The main investment methods for silver include physical silver, silver ETFs, spot trading, COMEX futures, silver options, and mining stocks, each catering to different investor profiles [7][8].