1983年来最猛涨幅！白银直奔100美元，机构都在扫货，黄金被抛弃?

Core Viewpoint - Silver prices have surged past $90 per ounce, reaching a historical high of $94, marking a 31% increase in the first two weeks of 2026, the strongest start to a year since 1983 [1][3] Monetary Revaluation - The revaluation of silver's monetary attributes is driven by challenges to the credibility of the US dollar and doubts about the Federal Reserve's policy independence, leading to increased demand for silver as a hedge against inflation [3][5] - A domestic precious metals investment institution reported a 200% year-on-year increase in offline silver bar sales in the first week of 2026, indicating a shift in investor focus from gold to silver [3] Macro Policy Shift - Easing inflation pressures and a softening labor market in the US have shifted the Federal Reserve's focus towards full employment, reinforcing expectations for interest rate cuts [5][7] - The anticipated rate cuts have lowered the opportunity cost of holding silver, attracting significant allocation of funds into silver ETFs, with one major fund's silver ETF surpassing 5 billion yuan, a 35% increase from the end of last year [5][7] Industrial Supply-Demand Dynamics - Silver's unique conductivity makes it an essential material for industries such as renewable energy and AI infrastructure, with a persistent supply shortage since 2021 [7][9] - A domestic photovoltaic company plans to increase its production capacity by 40% in 2026, leading to a 25% increase in silver procurement prices due to long-term supply agreements [7][9] Summary - The combination of monetary revaluation, macroeconomic policy shifts, and industrial supply-demand dynamics continues to drive silver's value reassessment, making a move towards the $100 mark a likely event [9]