刚刚！白银，也疯了！历史首次突破50美元/盎司

Core Viewpoint - Silver prices have recently reached a historic high, surpassing $50 per ounce, driven by increased demand for safe-haven assets and tightening supply in the London spot market [2][4]. Group 1: Price Movement and Market Dynamics - On October 9, the spot silver price surged to over $50 per ounce, marking the highest level since the "Hunt brothers squeeze" in the 1980s, with a subsequent increase to $51.06 per ounce, reflecting a 4.5% rise [2]. - Year-to-date, silver has appreciated over 70%, outperforming gold, as concerns about U.S. fiscal risks and overheated stock markets prompt investors to seek safe-haven assets [4]. - The shortage of freely available silver in the London market has supported prices and significantly increased the cost of borrowing silver [4][6]. Group 2: Investment Trends and Industrial Demand - The trend of "hedging against fiat currency depreciation" has also contributed to the rise in silver prices, as investors flock to assets like Bitcoin, gold, and silver amid inflation and unsustainable fiscal deficits [6]. - Silver is not only a global investment asset but also widely used in industrial applications, particularly in solar panels and wind turbines, which together account for over half of silver consumption [6]. - The silver market is expected to face a supply shortage for the fifth consecutive year by 2025, with high borrowing costs for the metal and concerns about potential U.S. tariffs leading to a "rush" to transport silver to the U.S. [6]. Group 3: Historical Context and Volatility - Silver typically moves in tandem with gold and shows a significant negative correlation with the U.S. dollar and Federal Reserve interest rates, but it is known for its high volatility [7]. - Historical events, such as the speculative actions of the Hunt brothers in 1980, have led to significant price surges, with silver prices reaching over $50 per ounce before crashing to below $11 [7]. - Currently, the nominal new high for silver is only about a quarter of the inflation-adjusted peak from the 1980s [7].