买疯了！白银ETF四天吸金量超7月来任何一周，银价还有顶吗？

Core Viewpoint - Silver prices are on the rise, with strong inflows into exchange-traded funds (ETFs) contributing to this upward momentum, potentially marking a second consecutive week of gains [1] Group 1: Price Movement and Market Dynamics - Silver prices surged over 2% before the European market opened, approaching a historical high of nearly $59 reached earlier in the week [1] - The relative strength index (RSI) for silver has fluctuated around 70, indicating potential overbought conditions, as investors flock to silver amid rising prices [3] - Year-to-date, silver prices have nearly doubled, significantly outpacing gold's 60% increase, driven by a short squeeze in the London market [3] Group 2: Economic Factors and Predictions - Expectations of a Federal Reserve interest rate cut next week have bolstered silver prices, with swap contracts indicating a high likelihood of a rate reduction in December, which typically benefits non-yielding precious metals [3] - Analysts from Citigroup, including Max Layton, predict silver could reach $62 per ounce in the next three months due to factors such as Fed rate cuts, strong investment demand, and physical shortages [4] Group 3: Industrial Demand and Structural Changes - Silver is not only a precious metal but also essential in various industrial applications, including circuit boards, solar panels, and medical device coatings, with global demand exceeding mining output for five consecutive years [4] - Analysts suggest that the current surge in silver prices indicates a shift in market perception, recognizing silver's structural scarcity and growing industrial demand beyond its role as a safe-haven asset [4] Group 4: ETF Inflows and Investor Sentiment - In just four days leading up to Thursday, the increase in silver ETF holdings surpassed the total for any complete week since July, signaling strong investor appetite despite concerns of overvaluation [5]