白银新高！记者实探：银饰价格已翻倍

Core Viewpoint - The recent surge in silver prices has drawn significant attention, with both domestic and international markets reaching historical highs. This increase has led to a doubling of silver jewelry prices over the past year, impacting various sectors of the silver industry [1][2][3]. Price Trends - On December 12, silver futures on the Shanghai Futures Exchange closed up nearly 4%, surpassing 15,000 yuan per kilogram, marking a monthly increase of nearly 20% and an annual increase of close to 100% [3]. - Internationally, the spot price of silver in London has exceeded 64 USD per ounce, with an annual increase of over 120% [3]. - In Shenzhen's Tianbei area, silver jewelry prices have doubled compared to over a year ago, with prices ranging from 17 to 18 yuan per gram for simpler designs, while more complex pieces in commercial districts are priced between 24 and 28 yuan per gram [3][5]. Industry Impact - The rise in silver prices positively affects upstream silver mining companies. For instance, Hunan Silver reported a 98.68% year-on-year increase in revenue for Q3 2025, reaching 4.065 billion yuan, and a 47.51% increase in net profit [7]. - Companies like Chihong Zn & Ge have capitalized on rising prices of sulfuric acid, gold, and silver, optimizing production and increasing output [7]. - Some companies, such as Maijie Technology, face cost pressures due to rising silver prices but are implementing strategies to maintain profit margins [7]. - Others are engaging in hedging activities to mitigate risks associated with price volatility, as seen with Shanjin International's announcement regarding derivatives hedging [8]. Future Outlook - Analysts predict that silver prices will continue to trend upwards, driven by liquidity conditions and ongoing tightness in the physical silver market. The anticipated confirmation of a dovish Federal Reserve chair nominee may further support this trend [10][11]. - The industrial demand for silver, particularly in sectors like electronics and photovoltaics, is expected to remain strong, contributing to sustained price increases [10][11].