避险基金老将警告白银面临五项短期利空，长期仍维持明确看多立场

Core Viewpoint - The long-term bullish logic for silver remains intact, but multiple short-term risks are emerging that could lead to a significant correction from year-end to early next year [1] Short-term Negative Factors - Five short-term bearish factors that may pressure silver prices are identified: 1. Year-end and early-year selling triggered by tax considerations 2. Short-term rebound risk of the US dollar 3. Increased margin requirements by exchanges suppressing leverage demand 4. Technical indicators entering overbought territory 5. Rising narratives of copper as a substitute for silver [1] Long-term Outlook - Despite the short-term headwinds, the long-term outlook for silver remains bullish due to the ongoing expansion of electricity demand in solar energy, data centers, and artificial intelligence [1] - Short-term corrections may provide a window for long-term investors to reposition [1]