（原标题：再创新高！现货白银突破61美元，年内翻倍领跑贵金属） 白银飙涨行情还在延续。 12月10日，现货白银价格震荡走高，首次站上61美元/盎司，截至10:33，报61.197美元/盎司，涨 0.88%。上个交易日，白银首次突破60美元大关。今年以来，银价已实现翻倍，远超黄金涨幅。 受现货提振，12月10日沪银主力合约涨幅扩大至5%，截至10:32，报14328元/千克，续创历史新高。 在供给侧，安粮期货认为，驱动白银价格上涨的核心因素，已从宏观预期切换至紧张的现货基本面。数 据显示，全球白银市场正面临连续多年的结构性供应短缺，COMEX交易所库存已降至多年低位。与此 同时，资金正大幅流入白银ETF，12月初仅四个交易日的流入量就创下数月新高，加剧了实物供应的紧 张预期。 方正中期期货指出，白银现货紧张或与宏观政策有关。美国首次将白银纳入关键矿产清单，印度和俄罗 斯已将白银纳入其官方储备体系，并采取了一系列开创性措施来强化白银的货币属性。全球白银库存总 量和结构性矛盾犹存，可流通的现货资源趋紧，白银中长期走势依旧看涨。当前金银比处于相对高位， 叠加铜价未来中枢上行预期，未来白银价格上涨弹性预计强于黄金。 在 ...

Core Viewpoint - Silver prices have reached record highs due to trader bets on sustained supply tightness and anticipated interest rate cuts by the Federal Reserve [1][3] Group 1: Silver Price Movement - On Wednesday, silver prices rose to a peak of $58.9471 per ounce, surpassing the previous high of $58.84 [1] - After reaching the peak, silver prices retreated to around $58 [1] Group 2: Federal Reserve and Interest Rate Expectations - Global interest rate futures traders are betting on significant rate cuts by the Federal Reserve, particularly with the potential new chairperson taking office in May [3] - Market expectations indicate a cumulative easing of 85 to 100 basis points by the end of next year, suggesting four rate cuts of 25 basis points each [3] - Current pricing in the interest rate futures market shows over 90% probability of a 25 basis point cut in the December meeting [3] Group 3: Silver Demand and Supply Dynamics - The holdings in silver-backed ETFs increased by approximately 200 tons, reaching the highest level since 2022, indicating sustained investor interest [5] - A record influx of silver into London has created pressure on other trading centers, with warehouse inventories at the Shanghai Futures Exchange dropping to a ten-year low [5] - The industrial demand for silver is rapidly increasing, particularly in solar energy, electronics, and AI hardware, highlighting its strategic importance [8]

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce, with a year-to-date increase of over 90%, significantly outperforming gold [1] Market Conditions - The market anticipates a 87.4% probability of a 25 basis point rate cut by the Federal Reserve in December, which supports the silver and precious metals market [1] - The potential appointment of a dovish candidate, Harker, as the next Federal Reserve Chair further boosts confidence in a low-interest-rate environment [1] Supply and Demand Dynamics - There has been a consistent supply shortage in silver due to declining production levels, with global exchange silver inventories at nearly a decade low [1] - Industrial demand for silver, particularly from sectors like photovoltaics and electric vehicles, continues to grow, exacerbating the tightness in the physical market [1] - Short-term leasing rates for silver have surged, indicating a significant supply shortage in the market [1] Price Valuation - The current gold-to-silver price ratio is approximately 75:1, which is notably higher than the 20-year average of 60:1, suggesting that silver is relatively undervalued within the precious metals sector [1] - Bank of America has raised its silver price target for 2026 to $65 per ounce [1]

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce, driven by expectations of interest rate cuts by the Federal Reserve and supply-demand dynamics in the market [1] Market Dynamics - As of December 1, during Asian trading hours, London spot silver prices hit $57.7 per ounce, reflecting a 2.3% increase [1] - Year-to-date, international silver prices have risen over 90%, significantly outperforming gold [1] Federal Reserve Influence - Market expectations for a 25 basis point rate cut by the Federal Reserve in December stand at 87.4%, providing strong support for silver and the broader precious metals market [1] - The potential appointment of a dovish candidate, Haskett, as the next Federal Reserve Chair further boosts confidence in a low-interest-rate environment [1] Supply and Demand Factors - A persistent supply shortage has emerged due to declining silver production in recent years [1] - Global silver inventories at exchanges have fallen to near a decade low, while demand from industrial sectors like photovoltaics and electric vehicles continues to grow, intensifying market tightness [1] - In the leasing market, short-term silver leasing rates have surged, highlighting the scarcity of silver supply [1] Valuation Insights - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [1] - Bank of America has raised its silver price target for 2026 to $65 per ounce [1]

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce for the first time, driven by multiple factors including supply shortages and expectations of interest rate cuts by the Federal Reserve [1][3][4]. Group 1: Price Movement - On December 1, during the Asian trading session, the spot price of silver hit a record high, with an intraday increase of over 2.5% [1]. - Year-to-date, international silver prices have risen by more than 90%, significantly outperforming gold [3]. Group 2: Market Influences - The recent rise in silver prices is supported by heightened market expectations for a Federal Reserve interest rate cut, with an 87.4% probability of a 25 basis point cut in December [4]. - The potential appointment of a dovish candidate, Harker, as the next Federal Reserve Chair has further bolstered confidence in a low-interest-rate environment [4]. Group 3: Supply and Demand Dynamics - There has been a persistent supply shortage in the silver market due to declining production levels, with global exchange silver inventories at nearly a decade low [6][8]. - Industrial demand for silver, particularly from the solar energy sector and electric vehicles, continues to grow, exacerbating the tightness in the physical market [6][8]. - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [6]. Group 4: Future Outlook - Analysts suggest that silver prices may continue to rise in the short term due to macroeconomic factors and industrial demand, but caution against potential market corrections [10]. - The silver market comprises both physical traders driven by industrial demand and financial investors seeking short-term gains, which can amplify market volatility [10].

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce, driven by expectations of interest rate cuts by the Federal Reserve and supply-demand dynamics in the market [1][3]. Group 1: Price Movement - On December 1, during Asian trading hours, London spot silver prices hit a record high, reaching $57.7 per ounce, with an increase of approximately 2.3% [1]. - Year-to-date, international silver prices have risen over 90%, significantly outperforming gold [1]. Group 2: Market Expectations - Recent market sentiment indicates a heightened expectation for a 25 basis point rate cut by the Federal Reserve in December, with a probability of 87.4% according to the CME FedWatch Tool [1]. - The potential appointment of a dovish candidate, Haskett, as the next Federal Reserve Chair has further bolstered confidence in a low-interest-rate environment [1]. Group 3: Supply and Demand Dynamics - There has been a persistent supply shortage in silver due to declining production levels in recent years [3]. - Global silver inventories at exchanges have fallen to near a decade low, while demand from industrial sectors such as photovoltaics and electric vehicles continues to grow, exacerbating market tightness [3]. - Short-term leasing rates for silver have surged, highlighting the supply shortage in the market [3]. Group 4: Valuation Insights - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [3]. - Bank of America has raised its silver price target for 2026 to $65 per ounce [3].

Group 1 - London spot silver prices reached a historic high, surpassing $57 per ounce for the first time, with a current price of $57.7 per ounce, reflecting an increase of approximately 2.3% [1] - Year-to-date, international silver prices have risen over 90%, significantly outperforming gold [1] - Market expectations for a Federal Reserve rate cut have increased, providing strong support for silver and the entire precious metals market, with an 87.4% probability of a 25 basis point cut in December [1] Group 2 - A persistent supply shortage in silver has been noted due to declining production levels, with global exchange silver inventories at nearly a decade low [3] - Industrial demand for silver, particularly from sectors like photovoltaics and electric vehicles, continues to grow, exacerbating tightness in the spot market [3] - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [3] - Bank of America has raised its 2026 silver price target to $65 per ounce [3]

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce, driven by expectations of interest rate cuts by the Federal Reserve and supply-demand dynamics in the market [2]. Group 1: Price Movement - As of December 1, during Asian trading hours, the London spot silver price hit $57.7 per ounce, marking an increase of approximately 2.3% [2]. - Year-to-date, international silver prices have risen over 90%, significantly outperforming gold [2]. Group 2: Market Expectations - There is a heightened market expectation for a 25 basis point rate cut by the Federal Reserve in December, with a probability of 87.4% according to the CME FedWatch Tool [2]. - The potential appointment of a dovish candidate, Harker, as the next Federal Reserve Chair has further bolstered confidence in a low-interest-rate environment [2]. Group 3: Supply and Demand Dynamics - A persistent supply shortage has been noted due to declining silver production in recent years, with global exchange silver inventories at nearly a decade low [2]. - Industrial demand for silver, particularly from sectors like photovoltaics and electric vehicles, continues to grow, exacerbating the tightness in the spot market [2]. - In the leasing market, short-term silver leasing rates have surged, highlighting the scarcity of silver supply [2]. Group 4: Valuation Insights - The current gold-to-silver price ratio stands at approximately 75:1, significantly higher than the 20-year average of 60:1, indicating that silver may be undervalued within the precious metals sector [2]. - Bank of America has raised its silver price target for 2026 to $65 per ounce [2].

Group 1 - The core viewpoint of the articles highlights that silver prices have reached a historic high, surpassing $57 per ounce, with a year-to-date increase of over 90%, significantly outperforming gold [1][3] - The market's rising expectations for a Federal Reserve interest rate cut are providing strong support for silver and the entire precious metals market, with an 87.4% probability of a 25 basis point cut in December [1] - The potential appointment of a dovish candidate, Haskett, as the next Federal Reserve Chair is further boosting market confidence in a low-interest-rate environment [1] Group 2 - On the supply and demand side, a decline in silver production has led to a persistent supply shortage, with global exchange silver inventories at a near ten-year low [3] - The demand for silver in industrial sectors such as photovoltaics and electric vehicles is continuously growing, exacerbating the tightness in the spot market [3] - The short-term leasing rates for silver have surged, indicating a shortage of silver supply in the market [3] - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the historical average of 60:1 over the past two decades, suggesting that silver is relatively undervalued [3] - Bank of America has raised its silver price target for 2026 to $65 per ounce [3]

Core Viewpoint - The price of silver has reached a historic high, surpassing $57 per ounce for the first time, with a year-to-date increase of over 90% [1][3]. Group 1: Market Dynamics - The recent rise in expectations for a Federal Reserve interest rate cut has provided strong support for silver and the entire precious metals market [3]. - A significant supply shortage exists due to declining silver production in recent years, leading to low global exchange silver inventories, which are at their lowest in nearly a decade [3]. - The demand for silver in industrial sectors, such as photovoltaics and electric vehicles, continues to grow, exacerbating the tightness in the physical market [3]. Group 2: Market Indicators - In the leasing market, short-term silver leasing rates have surged, highlighting the scarcity of silver supply in the market [3]. - The current gold-to-silver price ratio is approximately 75:1, significantly higher than the historical average of 60:1 over the past two decades, indicating that silver may be undervalued within the precious metals sector [3]. - Bank of America has raised its silver price target for 2026 to $65 per ounce, reflecting positive long-term outlooks for silver prices [3].