（文章来源：21世纪经济报道） 9月26日，国际白银价格强势上行，伦敦现货白银突破46美元/盎司，最高触及46.62美元/盎司，创下自 2010年以来的14年新高。在过去六个月内，现货白银累计涨幅已超过30%，表现远超多数大宗商品，年 内涨幅更是达到59%，也超过黄金的43%涨幅。 除了白银，铂金近期表现亦十分抢眼。9月27日，伦敦现货铂金大涨2.5%，最高触及1584美元/盎司大 关，创下2012年以来新高，单周涨幅更是超过11.5%。 ...

每经AI快讯，9月26日，现货铂金上涨3%，至每盎司1,575.95美元。 ...

谈到铂金价格上涨的原因，世界铂金投资协会（WPIC）中国市场研究负责人张文斌指出，这背后是供 应受限、全球首饰需求强劲、投资兴趣浓厚、连续三年供应短缺状态、地上存量快速消耗及市场紧张持 续等六大核心逻辑支撑。 中经记者 郝亚娟 夏欣 上海 北京报道 连日来，铂金延续涨势。截至北京时间9月24日14:30，现货铂金XPT最高触及1489.22美元/盎司。据 《中国经营报》记者测算，截至目前，今年铂金价格上涨超60%。 展望后市，广发期货高级黄金投资分析师叶倩宁认为，受美联储降息影响，四季度金融商品市场可能再 次迎来宏观冲击，贵金属整体将维持高位震荡，波动率价格中枢再次上升。铂金的市场紧缺程度最为持 久，供应压力持续存在，给后期的铂金价格提供了更加丰富的想象空间。 供应短缺、投资需求大增 ETF资金回流推动价格上涨 复盘2000—2025年期间，铂金经历四阶段结构性演变。 兴业研究方面指出，第一阶段，2000—2008年结构性牛市。价格从450美元/盎司涨至2273美元/盎司 （涨幅4倍），主要基于柴油车渗透率提升（欧盟占比从32.8%升至53.6%）和南非供给受限（2008年产 量骤降24吨至146吨）驱动。 ...

每经AI快讯，9月12日，现货铂金刚刚突破1400.00美元/盎司关口，最新报1400.15美元/盎司，日内涨 1.17%；Nymex铂金期货主力最新报1408.8美元/盎司，日内涨0.64%。 ...

两大需求引擎虹吸全球供应 铂金库存的快速消耗，主要由两大需求引擎驱动。 首先是美国市场的囤积行为。最新的动态显示，对关税的担忧促使大量铂金流向美国仓库。仅在过去三周，纽约商品交易所（NYMEX）认证仓 库的铂金库存就增加了近29万盎司。 与此同时，全球最大的铂金消费市场也在以前所未有的速度进口，进一步加剧了全球供应的紧张局势。亚洲主要消费国在第二季度吸纳了创纪录 的120万盎司铂金，其进口量持续高于预估的国内消耗量。 一场席卷全球的铂金供应紧缩正将市场推向临界点。 据彭博最新报道，由于铂金供应连续多年出现缺口，叠加美国等主要消费市场对实物金属的强劲吸纳，伦敦和苏黎世等关键交易中心的库存正迅 速枯竭。 全球铂金库存的快速消耗导致该金属价格年内飙升45%，目前交投于每盎司1320美元附近。而此前十年的大部分时间里，铂金价格一直在每盎司 800美元至1100美元之间波动。 市场最直观的"压力计"——铂金的借贷成本，已飙升至异常高位。数据显示，一个月期铂金租赁利率持续维持在10%以上，虽低于7月时超过35% 的峰值，但远高于通常接近于零的正常水平。这直接反映了持有者出借实物铂金的意愿极低，市场流动性严重枯竭。 供应缺 ...

Core Viewpoint - The article highlights the significant rise in silver prices in 2023, with international spot silver prices exceeding $37 per ounce, marking a nearly decade-high, and domestic prices surpassing 8.46 yuan per gram, indicating strong upward momentum in the market [1][8]. Group 1: Silver Market Dynamics - The demand for silver investment products has surged, with sales of investment silver bars and silver ingots increasing by over 40% year-on-year [1]. - In June, sales of investment silver bars rose by 20% compared to May, with consumers showing a strong preference for 1-kilogram and 500-gram silver bars [4]. - The silver market is experiencing a mix of buyers, with some purchasing for long-term investment and others selling their holdings for profit [5]. Group 2: Factors Influencing Silver Prices - The increase in silver prices is attributed to a continuous supply shortage over the past five years, driven by rising industrial demand from sectors such as electric vehicles, AI, semiconductors, and 5G technology [8]. - Experts suggest that the current price level of $37 per ounce is a critical resistance point, and with potential long-term interest rate cuts from the Federal Reserve, silver and other precious metals may continue to rise [9]. Group 3: Platinum Market Trends - Similar to silver, platinum prices have also surged, with a year-to-date increase of over 36%, surpassing the growth rate of gold [10]. - The market is witnessing a shift, with some gold retailers reducing gold sales and increasing platinum offerings [11]. Group 4: Consumer Caution - Despite the bullish trends in precious metals, experts advise consumers to remain rational and avoid impulsive buying due to the volatility influenced by international geopolitical factors [12].

Group 1 - Platinum prices have surged to nearly a ten-year high, driven by tightening supply and recovering demand, with prices rising from approximately $900 per ounce in early April to about $1,342 per ounce by June 27 [1] - South Africa, which accounts for about 80% of global platinum production, has seen its mining sector benefit significantly from this price increase, leading to strong gains in major mining stocks [1] - Major platinum producers listed on the Johannesburg Stock Exchange have experienced substantial stock price increases, with Impala Platinum up approximately 87.1% year-to-date, Northam Platinum up about 103.79%, and Sibanye-Stillwater up around 121.23% [1] Group 2 - The current rise in platinum prices is attributed to multiple structural factors, including heavy rainfall in South Africa affecting mining operations and reduced supply due to equipment maintenance at Valterra Platinum [2] - There has been a significant increase in platinum imports to China since April, with active trading on the Shanghai Gold Exchange, indicating rising demand [2] - The use of platinum group metals (PGM) in automotive catalytic converters is expected to grow as emission standards become stricter, leading to an increased demand for platinum in vehicles [2]

Group 1 - Spot platinum has just surpassed the $1410.00 per ounce mark, currently reported at $1409.83 per ounce, with a daily increase of 6.80% [1] - Nymex platinum futures are currently reported at $1420.1 per ounce, showing a daily increase of 5.74% [1]

Core Viewpoint - The article highlights the significant rise in platinum prices, which have reached their highest level since 2014, surpassing $1400 per ounce, with a year-to-date increase of nearly 50%, outpacing gold and silver [2]. Group 1: Market Trends - Platinum prices have surged, with a notable increase of over 3% in a single trading session [2]. - The global supply of platinum decreased by 10% year-on-year in Q1, totaling 45.3 tons, while demand increased by 10% to 70.7 tons, indicating a projected shortage of 30 tons for the third consecutive year [6]. - China has become the largest retail investment market for platinum, surpassing North America [6]. Group 2: Consumer Behavior - New platinum jewelry stores are emerging in markets, with some reducing gold jewelry displays in favor of platinum [5]. - Consumer sentiment is mixed; while some recall platinum's past popularity, others prefer gold or K-gold for wedding rings due to perceived value and cost [5]. Group 3: Industry Insights - Analysts from BMO Capital Markets expect platinum prices to rise to $1500 per ounce by year-end, driven by macroeconomic factors and commodity cycles [6]. - Goldman Sachs attributes the rapid rise in platinum prices to speculative investments and increased ETF holdings rather than fundamental improvements, cautioning about potential price corrections due to declining automotive demand [7].

铂金价格涨至2014年以来的最高水平，中国珠宝买家需求强劲，对铂金的青睐超过了黄金。铂金一度飙 升近3%，随后回吐部分涨幅，钯金则一度上涨逾5%。 ...