白银年内涨势强劲，机构认为市场进入加速冲顶阶段

Group 1 - Silver's growth rate has surpassed gold this year, reaching 71% compared to gold's 54% [1][3] - In mid-October, silver prices hit a historical peak of $54.47 per ounce, with a year-on-year increase of 71%, followed by a brief decline before resuming an upward trend [1][3] - On November 28, the spot silver market saw significant gains, with prices rising over 6% to exceed $56 per ounce, marking a new historical high [3] Group 2 - UBS believes that silver will continue to benefit from industrial demand, and its price remains relatively low compared to gold [3] - Silver ETF holdings are expected to rebound to a previous high of 1.021 billion ounces, with a more positive macro outlook for 2026 [3] - Analysts indicate that silver has entered an accelerated upward phase, with the current price movements aligning with historical patterns of price surges [4]