5万亿美元市值！白银超越英伟达升至全球第二资产，还能追吗

Core Viewpoint - Silver prices are experiencing a significant surge, with the potential to reach $100 per ounce, driven by various factors including inflation, a weakening dollar, and increased demand from central banks and investors seeking safe-haven assets [1][4]. Group 1: Market Dynamics - Silver futures prices have risen sharply, breaking through multiple key levels, with a cumulative increase of over 200% since the beginning of the current bull market in 2025 [1]. - The market capitalization of silver has surpassed $5 trillion, making it the second most valuable asset globally, only behind gold [4]. - The demand for silver is structurally increasing due to its industrial applications, particularly in electric vehicles and solar panels, which are expected to drive further price appreciation [5]. Group 2: Economic Influences - Historical context suggests that reaching $100 per ounce is feasible, especially when considering inflation-adjusted values from past peaks [6]. - The supply-demand balance is critical, with rising physical demand from central banks and declining available supply potentially accelerating price increases [6]. - Geopolitical uncertainties and concerns regarding the Federal Reserve's independence may create conditions conducive to higher silver prices [4]. Group 3: Market Signals - The gold-silver ratio has dropped below 50 for the first time since March 2012, indicating that silver's price increase is outpacing that of gold [8]. - A low gold-silver ratio may suggest that silver is overvalued, as historical averages indicate fluctuations based on macroeconomic cycles [8]. - Market participants are advised to consider their exposure to monetary assets rather than fixating solely on the allocation between gold and silver [9].