“穷人的黄金”大涨！白银、铜成投资新宠

Core Viewpoint - Silver prices have surged due to global supply constraints and increased demand from both industrial users and investors, reaching a historic high of over $60 per ounce for the first time [4][5]. Group 1: Supply and Demand Dynamics - Since January, silver prices have more than doubled, driven by a significant supply shortage exacerbated by strong demand from industrial users and investors [4][5]. - The London Metal Exchange (LME) has experienced a historic supply shortage in the silver futures market, with U.S. silver inventories remaining at approximately 456 million ounces, three times the historical average [5][6]. - Analysts expect the supply tightness in silver to persist, with retail investors increasingly favoring silver, often referred to as "the poor man's gold" [5][6]. Group 2: Investment Trends - Silver and copper have overtaken gold as the most popular precious metals for investment, with significant inflows into silver ETFs, surpassing those of gold ETFs [6][7]. - The volatility in silver prices has increased, with a notable 11% rise since reaching its historic high on October 20, while gold prices have remained relatively stable [6][7]. - Retail trading activity in silver has surged, with micro silver futures contracts reaching their highest average trading volume since mid-October [7]. Group 3: Market Speculation and Future Outlook - Speculative trading in silver options has intensified, with significant volumes of call options being traded, indicating bullish sentiment among investors [7][8]. - Analysts predict that both silver and copper prices may experience short-term corrections of 10% to 15%, but the long-term outlook remains positive due to ongoing supply constraints [9]. - The outlook for copper is similarly optimistic, with expectations of continued price increases driven by demand from AI data centers and clean energy projects [8][9].