白银单日巨震后走势成谜：六大关键信号透视后市博弈

Group 1 - The recent surge in silver prices has attracted significant attention, with prices reaching over $84 per ounce before a sharp decline to nearly $70, marking one of the largest price reversals in silver's history. Year-to-date, silver prices have increased by approximately 140% [1] - The increase in silver prices is primarily driven by a surge in interest from Chinese investors, with a notable rise in trading volumes on the Shanghai Gold Exchange, pushing premiums to historical highs [2] - The only pure silver fund in China has recently stopped accepting new clients due to the extreme volatility and speculative frenzy, despite previous warnings and tightened trading rules [5] Group 2 - Physical-backed silver ETFs have seen a significant inflow, with holdings increasing by over 150 million ounces this year, contributing to market supply constraints [6] - In December alone, silver prices rose by over 25%, potentially marking the largest monthly increase since 2020, with technical indicators suggesting that prices may have risen too quickly [9] - Some exchanges are raising margin requirements for silver futures contracts to manage risk amid increased volatility, which may lead to reduced trading activity [13] Group 3 - There has been a notable increase in the purchase of call options for silver futures and related ETFs, indicating a speculative trend, with the total open interest in call options for the iShares Silver Trust reaching its highest level since 2021 [14] - Global silver availability is constrained, with much of it remaining in New York warehouses due to trade-related tariffs, leading to higher borrowing costs in the London market [17] - Overall demand for precious metals has surged this year, driven by a weaker dollar and geopolitical factors, with silver often moving in tandem with gold, which has seen a significant rebound [21]