今日周四(12月25日)由于圣诞节假期休市一日，伦敦银昨日收于71.94美元/盎司，上涨0.68%，一度刷新 历史高点至72.70美元/盎司。白银年内涨幅近150%，毫无疑问是今年贵金属的"闪亮明星"，同时将在 2026年继续闪耀。 【要闻速递】 但同时，光伏、新能源汽车、AI算力服务器及5G通信等领域的用银量保持强劲增长，其中光伏产业的 白银需求占全球总需求的比重已从2022年的约20%大幅攀升至当前的约55%，彻底改变了白银的需求结 构，奠定了白银市场长期的"牛市"基调。 另外，美联储12月如期降息并开启扩表，11月失业率上升，市场对明年降息保持乐观态度，美元指数持 续走弱。 【最新伦敦银行情解析】 白银价格大幅上涨，主要受到三大核心因素驱动：一是全球白银市场长期存在供应缺口，显性库存持续 下降至危险水平；二是美国关税政策引发市场对实物供应的担忧，加剧库存转移与挤仓压力；三是美联 储进入降息周期，提升市场流动性及风险偏好，强化了白银的金融属性。 全球白银ETF持仓自10月以来显着增长，机构及高净值个人通过ETF或投行渠道大规模购入并囤积现 货，持续消耗期货市场可用库存，成为推升现货价格的关键力量。无论在国 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：观察君 12月22日，现货白银价格一度突破每盎司69美元，刷新历史最高点。截至当日收盘，沪银期货主力合约 上涨6.06%，突破16200元/千克关口。白银的累计上涨幅度引人关注，2025年以来其价格上涨接近 140%，而同期的黄金价格累计涨幅约为67%。 瑞达期货研究院研究员廖宏斌表示，从基本面来看，据白银协会预测，2025年全球白银市场仍将出现约 9500万盎司的结构性供应缺口，为连续第五年呈现供不应求格局。 供应方面，根据廖宏斌援引的数据，2025年全球矿产银供应预计约8.13亿盎司，同比大致持平。需求方 面，光伏产业用银需求成为长期支撑因素。国际能源署（IEA）预计，从2024年到2030年，全球新增太 阳能装机容量将达到4000吉瓦。这表明了到2030年，仅太阳能一项就将推动白银需求每年增加近1.5亿 盎司。 廖宏斌认为，展望未来，考虑到白银年内累计涨幅已显著，短期内投资者对消息面的敏感度可能上升。 不过，在白银库存持续处于低位以及工业需求保持韧性的多重因素共振下，预计白银价格将延续震 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 隔夜外盘白银继续大幅上行，今日早盘国内白银延续反弹，日内最高涨幅超4%，最高价突破15000整数 关口。昨晚美国劳工部公布的数据显示，截至12月6日当周，美国首次申请失业救济人数升至23.6万 人，这一涨幅为2020年3月以来最高。该数据进一步提振了美联储后续的降息预期，叠加本周美联储12 月会议虽流露鹰派信号，如内部罕见分歧、强调数据依赖，但并未动摇其宽松基调。此外美联储为呵护 金融市场流动性购买短债的动作以及缩表结束扩表预期开始成为推动贵金属反弹的诱因，短期继续审慎 乐观看待白银。 基本面来看，根据白银协会发布的2025年世界白银调查报告，全球白银市场将连续第五年出现供应缺 口，2025年预计缺口约为1.17亿盎司（约3660吨），为近年来最大缺口之一。矿产供应连年停滞在8.13 亿盎司左右，而工业需求却创下历史新高。同时白银在可再生能源、电子产品和绿色技术领域的需求激 增，叠加投资者对通胀和货币波动的担忧，多头驱动始终较强。不过，目前金银比已跌破70，处于2021 年以来新低，需警惕白银多头情绪过热带来的高估风险，盘面或有较大波动，仍应谨 ...

Group 1 - Silver prices have recently achieved a significant breakthrough, briefly rising to $58.819 per ounce, marking a 10% increase since last Friday and pushing the annual gain above 100% [3] - Despite a subsequent price pullback to around $57, the ongoing tight supply situation and low inventory levels at the Shanghai exchange continue to support silver's strong performance this year [3] - Silver has become the best-performing commodity tracked, with a strong buying interest returning after profit-taking led to a temporary price decline [3][4] Group 2 - The recent surge in silver prices has not been driven by new factors; the core logic remains the tight supply situation at the Shanghai exchange [4] - Market rumors regarding potential tariffs on silver by the U.S. government do not align with the timing of the recent price increase, indicating they are not the main driver of the current rally [4] - Expectations surrounding the Federal Reserve's upcoming meeting have shifted, with a 87% probability of a 25 basis point rate cut, which typically boosts the appeal of precious metals [4]

Group 1: Silver Price Surge - Silver prices have continued to rise, with spot silver breaking above $57 per ounce for the first time, marking a year-to-date increase of over 95%, significantly outperforming gold [1] - COMEX silver also reached $58 per ounce, while the main contract for silver futures in Shanghai saw an intraday increase of 7.79%, peaking at 13,520 yuan per kilogram, a record high since its listing [1] Group 2: Impact on A-Share Market - The surge in silver prices has led to a collective rally in silver-related stocks in the A-share market, with companies like Hunan Silver, Silver Nonferrous, Jiangxi Copper, and Xinyi Silver Tin hitting their daily price limits [2] - The price dynamics of silver are influenced by both macroeconomic policies and the recovery of global industrial demand, as silver possesses both precious and industrial metal characteristics [2] Group 3: Supply and Demand Dynamics - The global transition to renewable energy is increasing demand for silver in industries such as photovoltaics, AI, and semiconductors, while supply growth remains weak [3] - The World Silver Association predicts a decline in global silver demand to 1.12 billion ounces by 2025, a 4% year-on-year decrease, with supply expected at only 813 million ounces, leading to a structural supply gap of approximately 95 million ounces [3] Group 4: Company Performance - Rising silver prices are expected to enhance profit margins for upstream resource companies, with leading firms like Xinyi Silver Tin poised to benefit significantly [4] - Xinyi Silver Tin ranks first in Asia and eighth globally among silver companies, with silver reserves increasing to 30,600 tons and a production increase of 18.98% year-on-year to 212.16 tons in the first three quarters [4] - The company reported a revenue of 4.099 billion yuan in the first three quarters, a 24.36% increase year-on-year, with net profit rising by 4.94% to 1.364 billion yuan, driven by silver sales contributing 36.33% to total revenue [4]

Group 1 - The current silver price is trading at $46.03 per ounce, with a daily high of $47.16 and a low of $46.00 [1][2] - The U.S. government is facing a potential shutdown due to budget deadlock, which may impact economic data releases [3] - The Silver Institute forecasts a supply deficit in the global silver market for the fifth consecutive year, with demand exceeding supply by over 10 million ounces [4] Group 2 - Silver prices are currently in a short-term bullish trend, trading above the 50-day EMA, indicating potential for further gains [5] - A correction below the $46.60 to $46.55 range could attract buyers, while a sustained drop below this range may lead to technical selling [5] - Key support levels are identified at $45.30 and $45.00, with potential for further declines if these levels are breached [5]

Group 1: Precious Metals Market - The prices of precious metals have risen due to increasing expectations of a Federal Reserve rate cut and personnel changes within the Fed [1] - The market has fully priced in the expectation of a rate cut in September, with silver prices likely to maintain high volatility in the short term [1] - Silver's investment attributes are strong, and it may have greater upward potential driven by rate cut expectations [1] Group 2: U.S. Labor Market - The U.S. labor market has shown signs of weakness, with a significant drop in non-farm payrolls in August, adding only 22,000 jobs compared to the expected 75,000 [2] - The unemployment rate increased from 4.2% to 4.3%, marking the highest level since 2021 [2] - Federal government employment continues to drag down the overall job market, with a loss of 15,000 jobs in August [2] Group 3: Federal Reserve Rate Cut Expectations - The Federal Reserve's rate cut expectations have increased due to the impact of tariff policies and a cooling labor market [3] - Fed Chairman Jerome Powell signaled a potential rate cut at the Jackson Hole Economic Symposium, with expectations for a 25 basis point cut in September [3] - Future rate cuts will depend on economic data, with the Fed likely to cut rates in September and December [3] Group 4: Silver Industrial Demand - Silver demand is expected to remain strong, particularly driven by the photovoltaic industry, with a projected supply gap of 3,657 tons in 2025 [4] - The total silver supply is expected to increase to 32,000 tons in 2025, while total demand is projected to decrease to 35,700 tons [4] - Industrial demand, particularly from the photovoltaic sector, is anticipated to continue increasing, although overall silver consumption may face pressure [4] Group 5: Market Sentiment and Economic Outlook - Concerns over the independence of the Federal Reserve have increased due to ongoing pressure from former President Trump, leading to heightened market risk aversion [5] - The global trade landscape and political uncertainties contribute to a potentially strong short-term performance for precious metals [5] - In the medium to long term, the continuation of loose monetary policy and slowing U.S. economic growth may provide upward momentum for precious metals [5]