白银创历史新高后回落，市场警惕泡沫迹象

Core Viewpoint - Silver experienced a significant drop after initially surpassing $80 per ounce, driven by a structural supply-demand imbalance that led to record highs [1] Group 1: Market Dynamics - Silver prices peaked at over $83 per ounce before a decline of up to 5% following five consecutive days of increases [1] - The rapid rise in silver prices reflects a broader trend in precious metals, influenced by substantial central bank purchases, inflows into ETFs, and three consecutive interest rate cuts by the Federal Reserve [1] Group 2: Supply and Demand Factors - The silver market is characterized by a thinner structure, tighter inventories, and quicker liquidity depletion compared to gold, which has approximately $700 billion in lendable bars as a liquidity buffer [1] - A severe structural supply-demand imbalance has led to a rush for physical silver, with buyers currently paying a staggering 7% premium for immediate delivery over waiting a year [1]