1212热点追踪：流动性宽松预期下，沪银价格突破万五关口

Group 1 - The core viewpoint of the articles highlights a significant upward trend in silver prices, with domestic silver prices rising over 4% and surpassing the 15,000 yuan mark, driven by recent U.S. unemployment data and Federal Reserve policies [9][10]. - The U.S. Department of Labor reported that initial jobless claims rose to 236,000, the highest level since March 2020, which has increased expectations for future interest rate cuts by the Federal Reserve [9][10]. - The Federal Reserve's actions to maintain market liquidity through short-term bond purchases and the end of balance sheet reduction are contributing factors to the rebound in precious metals, particularly silver [9][10]. Group 2 - According to the Silver Institute's 2025 World Silver Survey, the global silver market is expected to experience a supply deficit for the fifth consecutive year, with a projected shortfall of approximately 117 million ounces (about 3,660 tons) in 2025, marking one of the largest deficits in recent years [10]. - Mining supply has stagnated at around 813 million ounces, while industrial demand has reached historical highs, particularly in renewable energy, electronics, and green technology sectors [10]. - The silver-to-gold ratio has fallen below 70, the lowest level since 2021, indicating potential overvaluation risks for silver due to overheated bullish sentiment, suggesting the need for caution in trading [10].