突然全线跳水！贵金属，巨震

Core Viewpoint - The precious metals market experienced significant volatility, with sharp price increases followed by abrupt declines, indicating potential market instability and speculative behavior [1][3][11]. Price Movements - Silver spot prices initially surged over 5% before dropping approximately 5% [1] - COMEX silver rose over 7% before turning to a slight increase [3] - NYMEX platinum saw a drop exceeding 9%, which later narrowed to under 5% [5] - Spot platinum fell over 7%, with the decline reducing to 3.6% [6] - NYMEX palladium initially increased by about 5% but later dropped by over 6% [8] - Gold futures and spot prices also reversed from gains to losses [9] Recent Performance - Last Friday, the precious metals market saw a broad rally, with COMEX gold futures rising 1.31% to $4,562 per ounce, accumulating a weekly gain of 3.98% [11] - Spot gold increased by 1.12% to $4,531.1 per ounce, with a weekly rise of 4.44% [11] - COMEX silver futures surged 11.15% to $79.68 per ounce, with an 18.06% weekly increase [11] - Spot silver rose 10.24% to $79.196 per ounce, accumulating a weekly gain of 17.87% and a year-to-date increase of 175% [11] - Spot palladium jumped 14.24% to $1,923.4 per ounce, with a weekly rise of 12.63% [11] - Spot platinum increased by 10.31% to $2,450.91 per ounce, with a weekly gain of 24.31% [11] Market Analysis - Analysts warn that precious metal prices are at unsustainable levels, with potential for a correction as speculative sentiment rises [11] - A report from Capital Economics suggests that silver prices may fall to around $42 per ounce by the end of next year as enthusiasm wanes [11] - The chief analyst at CITIC Futures indicates that while long-term bullish factors exist, the rapid short-term price increases may have overextended market expectations, posing risks to stability [11] Supply and Demand Dynamics - The silver market is experiencing a "generational bubble" due to an influx of capital and severe supply-demand imbalances, leading to a rush for physical silver [12] - Market expectations of multiple interest rate cuts by the Federal Reserve by 2026 and strong buying from central banks and private investors have contributed to rising prices [12] Regulatory Actions - To mitigate market risks, the Shanghai Futures Exchange issued notifications on December 26, advising market participants to manage risks and outlining trading margin requirements and price limits for the upcoming New Year period [12]