白银价格，为何突然大涨？

Core Viewpoint - The silver market is experiencing significant price increases, with both spot and futures prices reaching new highs due to rising demand and various economic factors [1][3][4]. Price Movement - As of December 10, the spot price of silver in London reached $61.244 per ounce, marking an increase of nearly 1% [1]. - On December 9, silver prices surged over 4%, breaking the important $60 per ounce threshold for the first time [3]. - Year-to-date, silver prices have risen by approximately 110% [3]. Demand Drivers - Increased demand for precious metals is attributed to rising debt levels in major Western economies and the associated risks of currency devaluation [3]. - Silver's smaller market size compared to gold makes it more sensitive to fluctuations in the dollar, leading to higher volatility [3]. Supply and Economic Factors - Continuous supply tightness, declining global inventories, and expectations of an upcoming interest rate cut by the Federal Reserve are supporting silver prices [4][6]. - The probability of a 25 basis point rate cut by the Federal Reserve in December is estimated at 87.6% [5]. Industrial Demand - Silver's industrial applications, particularly in photovoltaic technology and AI computing, are contributing to strong demand [5]. - The increasing share of silver used in solar panels and AI servers is creating robust industrial demand [5]. Market Strategy - Analysts suggest maintaining long positions in silver futures, while cautioning about the risks associated with high volatility [6]. - Future price movements may experience fluctuations as supply-demand dynamics begin to stabilize [6].