Core Viewpoint - Silver prices have surged to historical highs, with the London spot silver price exceeding $57 per ounce for the first time, marking a year-to-date increase of over 90%, significantly outperforming gold and positioning silver as one of the best-performing assets of 2025 [1] Group 1: Market Dynamics - The silver market has experienced significant volatility this year, with prices fluctuating between $29 and $35 per ounce from January to May, before accelerating due to a global silver inventory shortage and increased demand from the photovoltaic industry [1] - Following the Federal Reserve's shift in monetary policy in September, which initiated a rate-cutting cycle, silver prices entered a bullish phase, further fueled by speculative trading amid low liquidity conditions [2][4] - The global silver inventory has reached a near 10-year low, with domestic and COMEX silver stocks declining, indicating a tightening supply situation [3] Group 2: Supply and Demand Factors - The persistent supply-demand gap in the silver market has been exacerbated by rising demand from electronic manufacturers and increased investment in precious metals as safe-haven assets [2] - The upcoming December futures contract delivery has raised concerns about potential physical shortages, as the market faces structural pressures due to low inventory levels [4] Group 3: Market Sentiment and Future Outlook - Despite the optimistic sentiment dominating the market, there are concerns regarding potential price corrections after a significant increase of over 90% this year [5] - Analysts suggest that while the fundamentals for silver remain strong, the market is entering a sensitive price range, and any shift in investor sentiment could lead to significant volatility [6]
价格创新高涨幅碾压黄金 年度“黑马”白银上演“逼空”大戏
Bei Ke Cai Jing·2025-12-01 11:15