Zhi Tong Cai Jing·2025-12-11 15:06Core Viewpoint - Precious metals stocks, particularly silver, are experiencing significant gains, driven by a combination of favorable monetary policy, market structure, and supply-demand dynamics, with silver prices expected to continue rising into 2026 [1] Group 1: Market Performance - On Thursday, silver stocks saw a broad increase, with Pan American Silver (PAAS.US) and Coeur Mining (CDE.US) rising over 3%, and Newmont Corporation (NEM.US) increasing by more than 2% [1] - Spot silver prices rose nearly 1% in a single day, marking a staggering 115% increase year-to-date, currently priced at $62.39 [1] Group 2: Price Forecast and Analysis - According to a report from Saxo Bank, silver prices are projected to more than double by 2025, surpassing the $60 mark and setting a new historical high [1] - The bullish trend for silver is expected to persist into 2026, although there are potential risks that could disrupt this trajectory [1] Group 3: Factors Influencing Silver Prices - Ole Hansen, the head of commodity strategy at Saxo Bank, attributes the surge in silver prices to supply constraints, insufficient price elasticity in industrial demand, and market mismatches driven by policy [1] - The increase in silver prices has outpaced what could be explained by gold price movements alone, indicating a unique market dynamic [1]