库存危机浮现！白银彻底碾压黄金？

Core Insights - Silver prices experienced a significant drop of over 1.00% during the Asian market on December 4, with a high of $58.75 and a low of $57.31 per ounce, indicating potential short-term upward movement, contingent on upcoming economic data releases [1] - The ADP data released on Wednesday showed an unexpected decline, heightening expectations for a potential interest rate cut in the U.S., with silver prices having surged 100% this year, marking the best annual performance since 1979 [1] - Phil Baker, a former CEO of Hecla Mining, noted that the driving force behind the record rise in silver prices is strong physical demand rather than hedge funds, which is currently unsustainable [1] - India's silver imports have surged, with approximately 60 million ounces imported in October compared to 15 million ounces a year prior, highlighting a significant increase in demand from the world's fifth-largest economy [1][2] Market Behavior - Industrial buyers are altering their purchasing behaviors in response to higher prices and tighter inventories, alongside the demand from India's jewelry and silver bar sectors [2] - Investors are closely monitoring the upcoming U.S. core personal consumption expenditures price index, a key inflation indicator for the Federal Reserve, which could influence monetary policy outlook [2] Silver Market Analysis - The silver market opened at $58.721, dipped to a low of $57.485, and reached a historical high of $58.991 before closing at $58.47, forming a long lower shadow hammer candlestick pattern [3] - Silver prices are attempting to stabilize above resistance levels of $58.60-$58.80, with a close above $58.80 potentially providing additional upward momentum towards the $60.00 level [3]