2025年银价上涨近150%，2026年将何去何从？

Group 1 - The core viewpoint of the articles highlights the significant volatility and upward trend in silver prices throughout 2025, with a notable increase of 147.8%, surpassing the 64.6% growth of gold during the same period [3][4] - In December 2025, silver prices broke through key psychological levels of $60, $70, and $80 per ounce, reaching a peak of $83.971 per ounce before experiencing a sharp decline [1][3] - Factors supporting the rise in silver prices include the Federal Reserve's easing cycle, changes in the credibility of the US dollar, and global geopolitical risks, alongside increasing demand from sectors such as photovoltaics, electric vehicles, and electronics [3][4] Group 2 - Peter Krauth from SilverStockInvestor suggests that historical analysis of the gold-silver ratio indicates potential for significant further increases in silver prices, particularly due to supply constraints expected in 2026 [4] - A report from CITIC Futures indicates that the narrative of shrinking dollar credit will continue to dominate the gold-silver bull market trend, with expectations of a gradual recovery in the global economy benefiting cyclical assets [4] - The silver market is anticipated to experience a release of upward price elasticity as the gold-silver ratio may have room to decline [4]