白银刷新历史最高纪录！现货供应紧张引发市场关注，美联储会议成焦点

Group 1 - The domestic commodity futures market is showing a mixed pattern, with certain metal varieties performing strongly, particularly silver, which has reached a new historical high [1] - The strong performance of the silver market is closely related to tight spot supply, with high open interest in silver futures indicating a "short squeeze" logic due to low inventory [3] - The World Silver Association predicts a structural supply gap of approximately 95 million ounces in the global silver market by 2025, marking the fifth consecutive year of supply shortages [3] Group 2 - Investors are focusing on the upcoming Federal Open Market Committee (FOMC) meeting, with expectations of a 25 basis point rate cut already priced in, and attention on guidance for rate cuts in the first half of 2026 [4] - Global central banks continue to purchase gold, with China's gold reserves reported at 74.12 million ounces as of November 2025, marking a month-on-month increase for the 13th consecutive month [4] - In October, global central bank demand for gold remained strong, with net purchases reaching 53 tons, a 36% month-on-month increase, representing the largest monthly net demand of the year [4]