暴涨超90%！价格再创历史新高！

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce for the first time, driven by multiple factors including supply shortages and expectations of interest rate cuts by the Federal Reserve [1][3][4]. Group 1: Price Movement - On December 1, during the Asian trading session, the spot price of silver hit a record high, with an intraday increase of over 2.5% [1]. - Year-to-date, international silver prices have risen by more than 90%, significantly outperforming gold [3]. Group 2: Market Influences - The recent rise in silver prices is supported by heightened market expectations for a Federal Reserve interest rate cut, with an 87.4% probability of a 25 basis point cut in December [4]. - The potential appointment of a dovish candidate, Harker, as the next Federal Reserve Chair has further bolstered confidence in a low-interest-rate environment [4]. Group 3: Supply and Demand Dynamics - There has been a persistent supply shortage in the silver market due to declining production levels, with global exchange silver inventories at nearly a decade low [6][8]. - Industrial demand for silver, particularly from the solar energy sector and electric vehicles, continues to grow, exacerbating the tightness in the physical market [6][8]. - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [6]. Group 4: Future Outlook - Analysts suggest that silver prices may continue to rise in the short term due to macroeconomic factors and industrial demand, but caution against potential market corrections [10]. - The silver market comprises both physical traders driven by industrial demand and financial investors seeking short-term gains, which can amplify market volatility [10].