资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 澳洲联邦银行（CBA）分析师称，到2026年第二季度，白银期货可能涨至46美元/盎司，甚至更高。风 险偏向上行，因美元面临下行风险，且白银的结构性避险需求走强。受避险需求和白银与美元的强烈反 向关系推动，银价处于14年高位。 ...

Core Viewpoint - The recent fluctuations in silver prices are influenced by U.S. economic data, particularly jobless claims and employment reports, which are shaping market expectations for potential interest rate cuts by the Federal Reserve [3][4]. Group 1: Silver Market Analysis - As of September 5, London silver is trading below $40.78, with a current price of $40.72, reflecting a 0.25% increase [1]. - The highest price reached today was $40.84, while the lowest was $40.52, indicating a short-term bullish trend in the silver market [1]. - The market is awaiting the monthly employment report, which is expected to significantly impact silver prices depending on the employment growth figures [3]. Group 2: U.S. Economic Indicators - Recent jobless claims data showed an increase to 237,000, exceeding the expected 230,000, indicating a cooling labor market [3]. - The ADP national employment report revealed that private sector jobs increased by only 54,000 in August, well below the anticipated 65,000, with July's figures revised upward to 106,000 [3]. - These indicators suggest a gradual slowdown in the U.S. labor market, which may enhance the safe-haven appeal of silver while raising concerns about a potential economic recession [3]. Group 3: Trading Strategies - The trading strategy for silver includes holding positions with stop-loss orders set at $39.95 and targeting price levels of $40.5, $40.7, and $41-$41.2 [4]. - The market sentiment is cautious ahead of the non-farm payroll report, with traders adjusting their positions based on the anticipated data [4].