Group 1 - Silver is entering 2026 with a significant transformation, having broken through $55 per ounce by the end of 2025 and establishing a solid base in the $50-54 range, marking a nearly 150% increase for the year [1] - The recent surge in silver prices, reaching a historical high of $72.68 per ounce, indicates a structural supply-demand imbalance that is intensifying [1] - China, as a crucial physical hub for silver, is experiencing noticeable supply tightness, with exchange inventories dropping to their lowest levels in a decade following record exports [1] Group 2 - The global impact of China's declining reserves is immediate, occurring against a backdrop of a structural deficit for the fifth consecutive year, with ground inventories decreasing and mine supply not responding quickly enough [1] - Most of the new production is not expected to materialize until after 2027-2028 [1] - In the short term, paper silver prices are showing a sideways trend, with support levels at 15.5-15.80 and resistance levels at 16.00-16.50 [2]
纸白银走势横盘整理 白银“蜕变”迈向新年
Jin Tou Wang·2025-12-25 03:24