Lyn Alden：白银2026年可能冲击100美元，但不再是“低风险高回报”机会

Group 1 - Silver's recent price surge is attributed to a combination of valuation recovery and potential overextension, with predictions suggesting it could reach $100 by 2026, although the "low-risk, high-reward" opportunity has diminished [1][2][7] - The Federal Reserve has effectively ended quantitative tightening, transitioning to a phase of "structural gradual money printing," which aims to maintain market liquidity despite inflation exceeding targets [3][4][12] - The expectation of persistent inflation and declining purchasing power of the dollar is highlighted, indicating a favorable outlook for hard assets and commodities in the current fiscal-driven environment [4][8][25] Group 2 - The analysis suggests that hard assets like silver and gold are likely to outperform nominal assets such as stocks, as the real purchasing power of equities may continue to decline relative to these commodities [8][28] - The current market sentiment around silver is cautious, with potential volatility expected, as the asset has become more symmetrical in risk, meaning significant price fluctuations could occur in either direction [2][40] - The overall macroeconomic landscape indicates that while nominal asset prices may rise, their real value, when measured against hard assets, may not reflect true growth, emphasizing the importance of considering purchasing power in investment strategies [29][31][33]