芝商所交易中断加剧市场动荡，白银与铜价齐创历史新高

Group 1 - The current precious metals market is experiencing a "perfect storm" characterized by supply shortages, improving macroeconomic outlook, and potential trade policies [6][7] - Silver prices surged by 5.9% to a record high of $56.53 per ounce, while copper prices reached a new high of $11,210.50 per ton [5][6] - The recent price increases are driven by strong physical demand for silver, particularly from industrial sectors like photovoltaic cells and electronics [7] Group 2 - Concerns over supply tightness in the silver market have intensified, with significant inflows of silver into London failing to alleviate the pressure, as evidenced by a drop in Shanghai Futures Exchange silver inventories to the lowest level since 2015 [7][8] - The potential for tariffs on silver has emerged as a focal point for traders, especially after silver was included in the U.S. Geological Survey's list of critical minerals [8] - The bullish sentiment in the copper market has been reinforced by discussions at an industry conference in Shanghai, where market tightening was a key topic [9][10] Group 3 - Macro-economic factors, including expectations of further monetary easing by the Federal Reserve, are providing strong support for metal prices [12] - The probability of a 25 basis point rate cut by the Federal Reserve at the upcoming meeting has risen to 86.4%, up from 71% a week prior [13] - The broader surge in metal prices this year reflects a trend known as "inflation trade," with silver prices increasing over 90% as investors shift from government bonds and currencies to alternative assets [15]