白银突然拉升，突破70美元关口创新高

Group 1 - The silver market is expected to face a structural supply gap of approximately 95 million ounces in 2025, marking the fifth consecutive year of supply-demand imbalance [2] - Global silver supply is projected to be around 813 million ounces in 2025, remaining roughly stable year-on-year, with a slight increase of about 1% in recycled supply [2] - Demand from the photovoltaic industry is anticipated to be a long-term support factor, with the International Energy Agency (IEA) estimating an addition of 4,000 gigawatts in solar capacity from 2024 to 2030 [2] Group 2 - By 2030, solar energy alone is expected to drive an annual increase in silver demand of nearly 150 million ounces, representing a 13% rise from the physical demand of 1.169 billion ounces in 2024 [3] - The cumulative increase in silver prices has exceeded 120% this year, leading to heightened sensitivity among investors to news and data, which could amplify market correction risks [3] - Silver prices are projected to trade between $43 and $62 per ounce by 2026, primarily supported by investment demand [3] Group 3 - The silver market may enter an overbought zone due to significant price increases, raising volatility risks amid crowded trading conditions [4] - There is a possibility of regulatory measures being implemented to manage risks, with a focus on U.S. economic data and Federal Reserve statements [4] - Investors are advised to consider reducing long positions or using options to lock in profits as speculative buying at high levels may lead to profit-taking [4]