白银首破100美元重要关口，后市还会再涨吗？

Group 1: Market Overview - The global metal market has entered a new phase of price increases, with gold and silver achieving their largest weekly gains since 2020, maintaining a cumulative rise since the beginning of 2026 [1] - Silver futures and spot prices have historically surpassed the $100 mark for the first time [1] - Gold has reached a new intraday high for the fifth consecutive trading day, approaching the $5000 mark, while copper has rebounded to over $13,000 [6][19] Group 2: Factors Driving Price Increases - The surge in metal prices is driven by multiple factors, including a weakening dollar, significant capital outflows from currencies and sovereign bonds, and geopolitical tensions, particularly comments from former President Trump regarding military movements towards Iran [6][10] - The ongoing geopolitical instability and criticism of the Federal Reserve have heightened risk aversion among investors, leading to increased demand for safe-haven assets like gold and silver [10][17] Group 3: Institutional Outlook - Major financial institutions are bullish on precious metals, with JPMorgan forecasting gold prices to reach $5000 by Q4 2026 and Citigroup raising its short-term silver price target to $100 [7][18] - UBS anticipates that silver still has about 25% upside potential, although it warns of potential volatility throughout the year [7][11] Group 4: Silver Market Dynamics - Silver has outperformed gold in 2025, with prices rising nearly 150% compared to gold's over 60% increase, reflecting a shift in investor interest [8][10] - Analysts suggest that the $100 mark for silver is a psychological barrier, with strong industrial demand, particularly from the solar sector, contributing to price increases [10][12] Group 5: Copper and Other Industrial Metals - Copper prices have rebounded due to supply disruptions and a weaker dollar, with LME copper trading above $13,000 per ton [19][22] - The recent price increases in copper are attributed to labor strikes affecting production and easing trade tensions between the U.S. and Europe [22][23]