盘中，大跳水！摩根大通最新警告：这个热门品种回调风险大！

Core Viewpoint - Silver prices have experienced significant volatility recently, with a sharp increase followed by a notable decline, raising concerns about future market stability and demand dynamics [1][2]. Group 1: Price Volatility - On January 15, silver prices hit a historical high of $93.71 per ounce before dropping sharply, with an intraday decline exceeding 7% [1]. - The following day, January 16, silver prices again saw a dramatic drop, with intraday losses surpassing 6%, closing just above the $90 per ounce mark [2]. Group 2: Market Risks - According to JPMorgan, silver faces multiple risks, including suppressed industrial demand due to high prices and continued outflows from ETFs, indicating a significant risk of market correction [1][7]. - The report highlights that industrial demand is under increasing pressure, particularly from the solar energy sector, where rising silver prices could threaten demand by 50-60 million ounces in the coming years [7]. Group 3: Supply and Demand Dynamics - Bloomberg reported that U.S. President Trump decided against imposing tariffs on key mineral imports, including silver, which alleviated some market fears regarding supply disruptions [4]. - Daniel Ghali from TD Securities noted that the U.S. government's targeted approach to trade measures could ease concerns about the impact on physical metal prices [5]. Group 4: Investment Trends - Despite a projected increase in global silver ETF holdings by 278 million ounces in 2025, there has been a notable divergence in price and volume, with significant net outflows from major silver ETFs since late last year [8]. - Analysts from various institutions remain optimistic about silver's long-term prospects, citing supply constraints and industrial demand as key supportive factors, despite the need for short-term price corrections [9].