与此同时，Ghali还认为市场供需基本面正在出现明显转变。白银上个月一度冲至创纪录的84美元/盎 司，部分原因在于该贵金属的实物供应链出现了严重紊乱。 过去五年里，强劲的工业需求推动了供应缺口扩大，并持续消耗地上库存；再加上投资者兴趣上升，道 明证券此前预计市场可能出现显著的"空头挤压"。 知名贵金属资讯网站Kitco News周三(1月7日)报道称，随着白银未能守住80美元/盎司上方的涨幅，一家 加拿大知名投行正再次尝试从市场空头一侧入手。 (截图来源：Kitco News) 周三，道明证券(TD Securities)的商品分析师发布了最新交易观点，称他们已做空白银期货，并预计在 未来三个月内价格将大幅走低，因为市场基本面开始趋于平衡。 在最新的商品报告中，道明证券高级商品策略师Daniel Ghali表示，他以78美元/盎司的价格在3月白银期 货上建立了空头仓位，目标价为40美元/盎司。同时，这家加拿大银行将止损位设在92美元/盎司。 3月白银期货周三报77.94美元/盎司，当日跌幅接近4%。 道明证券此次做空，是因为该行预计，随着新年年度指数再平衡带来的影响逐步显现，白银将面临显著 抛售压力。白银去年 ...

2025/12/25 15:07 Does Silver's Crowded Rally Need A Breather? | ZeroHedge ⽩银这波拥挤的涨势需要喘⼝⽓吗？ BY TYLER DURDEN THURSDAY, DEC 25,2025-12:45 AM 由于地缘政治紧张局势升级以及美国可能进⼀步降息，⻩⾦和⽩银价格飙升⾄历史新⾼。 过去⼀周，地缘政治紧张局势加剧，尤其是在委内瑞拉——美国为向总统尼古拉斯·⻢杜罗领导的 政府施压，对油轮实施了封锁——这也放⼤了贵⾦属的避险吸引⼒。 " 地缘政治摩擦已重新进⼊叙事， " 激⽯集团策略师艾哈迈德 · 阿西⾥在提到油轮扣押事件 时表⽰。 " 这些发展虽然没有引发彻底的避险⾏为，但⽆疑增加了对⻩⾦作为必备对冲⼯具的潜 在需求。 " 隔夜，现货⻩⾦价格⾸次突破每盎司4500美元…… ⼤量买⼊交易所交易基⾦（ETF）是此次⾦价飙升的主要推动⼒。道富银⾏旗下的SPDR⻩⾦信托 基⾦是最⼤的贵⾦属交易所交易基⾦，其持仓量今年增⻓了逾五分之⼀。 他表⽰，由于 " 散⼾资⾦流动性较差 " ，价格波动性仍将居⾼不下。 今年⽩银约140%的涨幅甚⾄⽐⻩⾦更为惊⼈， ...

今日周三(12月17日)亚盘时段，伦敦银目前交投于66.00一线上方，今日开盘于63.72美元/盎司，截至发 稿，伦敦银暂报66.33美元/盎司，上涨4.06%，最高触及66.51美元/盎司，最低下探63.63美元/盎司，目 前来看，伦敦银盘内短线偏向看涨走势。 【最新伦敦银行情解析】 伦敦银价格在早盘中交易中大幅上涨，突破关键阻力位，有望创下历史高位，且交易位置高于 EMA50，这代表了一个动态支撑，强化了主看涨趋势的稳定性和强劲，短期内与小趋势线并行交易。 尽管已触及超买水平，但相对强弱指标出现了积极信号。 下行方面，如果银价回落至62.00美元以下，则将向最近的支撑位58.60-58.80美元区间前进。 Nirmal Bang Commodities研究主管Kunal Shah表示，白银市场出现了严重的空头挤压，在美国将银列入 关键矿产清单后，我们没有看到供应方面做出应有的反应。每个计划进入数据中心——人工智能领域的 国家都需要更多的白银。目前的趋势可能会在短期内将白银推向70美元。 供需结构性缺口扩大，全球矿产银产量近十年增长乏力，主要原因在于，墨西哥、秘鲁、中国三大白银 产国产能下滑。与此同时，市场 ...

Core Insights - The cryptocurrency market has increased by 2.9% in the past 24 hours, reversing a 30-day decline of -10.44% and continuing a mild upward trend over the past week (+2.13%) [1] - Key factors driving this market movement include expectations of a 25 basis point rate cut by the Federal Reserve, short-squeeze events, and positive news regarding exchanges and partnerships [1][2][3] Market Performance - Bitcoin (BTC) is priced at approximately $92,485, with a 24-hour increase of 2.65%. Key support and resistance levels are identified [7] - Ethereum (ETH) is priced at around $3,319, with a 24-hour increase of 6.57%. Critical price levels are highlighted for potential upward movement [7] - BNB is priced at about $893, with a 24-hour increase of 0.47%. The price action is contingent on maintaining above a specific support level [7] - Solana (SOL) is priced at approximately $139, with a 24-hour increase of 5.23%. Key price levels are noted for potential upward movement [8] Market Sentiment - The total market capitalization of cryptocurrencies is approximately $3.16 trillion, with a 24-hour trading volume of about $147.31 billion. Current market sentiment is at 25 (fear), indicating a cautious approach among investors [8] - The dominance of Bitcoin is at 58.5%, while altcoins represent a lower index of 18/100, reflecting a clear risk-off sentiment [8] Liquidation Events - In the past 24 hours, a total of 112,592 traders were liquidated, amounting to $420 million, with significant losses in both long and short positions [5] Top Gainers and Losers - Top gainers include G (up 38%), AXL (up 24%), and LUNA (up 24%) [10] - Top losers include ALLO (down 15%), RDNT (down 13%), and WIN (down 8%) [10]

（来源：领盛Optivest） 基本面总结： 1．英国11月房价增长显著放缓，市场静待预算案与央行决议。 英国房地产市场在11月显现出明显的增长放缓迹象。抵押贷款机构哈利法克斯的最新数据显示，11月房价环比持平，增速低于10月的0.5%；同比涨幅则 大幅放缓至0.7%，为2024年3月以来的最低水平。 该机构指出，年增长率的大幅放缓主要受去年同期房价增长强劲的基数效应影响。尽管春季印花税政策有所调整，且秋季预算案公布前市场存在不确定 性，但房产价值整体保持稳定。行业观点认为，当前房价可负担性处于2015年以来的最强水平。 市场分析普遍将增长放缓归因于购房者的谨慎态度。在财政大臣里夫斯于11月26日公布预算案之前，市场观望情绪浓厚。这一趋势也得到了其他数据的印 证，竞争对手机构Nationwide此前报告显示，11月房价环比仅微涨0.3%，年涨幅亦有所放缓。 展望未来，市场预期在稳定的经济活动和货币政策放松的支持下，明年房价可能逐步回升。市场普遍预测，英格兰银行将在12月的会议上降息25个基点， 将基准利率下调至3.75%，这有望为房地产市场提供后续支撑。 2．美国12月初消费者信心小幅回升，但对通胀与就业市场 ...

白银价格周五盘中创下历史新高，并实现连续第二周上涨，ETF的强劲流入为这轮火热涨势注入了更多动力。 周五现货白银一度上涨3.9%，创下每盎司59.33美元的历史新高。 (白银突破59美元大关，创下历史新高) 白银ETF的资金流入成为推动本轮涨势的关键因素。截至周四，仅仅四个交易日，白银ETF的资金流入总量就已创下7月以来单周最高纪录。 Pepperstone研究策略师Dilin Wu表示： 这些资金流动可以迅速放大价格波动，并引发短期空头挤压。 周五黄金走势则出现分化，日内冲高1%后转跌。这使得金银比价回落至2024年5月低点以下，约为72倍。 供需失衡支撑白银，华尔街看好明年价格 白银涨势在过去两个月加速，部分原因是伦敦市场出现历史性挤压。 虽然随着更多金属运往这个全球最大的白银交易中心，这一紧张局面在近几周有所缓解，但其他市场目前正面临供应短缺。而全球白银需求已 连续五年超过矿山产量。 白银价格今年已累计上涨约一倍，涨幅超过黄金60%的涨幅。华尔街见闻提及，部分市场人士担忧会重演1980年和2011年的崩盘剧本，彼时白 银在突破48美元后迅速回吐全部涨幅。 但Sprott Money分析师Craig He ...

Core Insights - Capricor Therapeutics, Inc. experienced a significant stock surge of 356%, reaching $29.02, following the announcement of positive topline data from the Phase 3 HOPE-3 trial for its lead cell therapy candidate, deramiocel [1][10] - The stock rally resulted in a "short squeeze," leading to substantial losses for short sellers, particularly Martin Shkreli, who had publicly bet against the company's success [2][9] Company Developments - Capricor's CEO, Linda Marbán, stated that the HOPE-3 results provide "strong and definitive evidence" that deramiocel can significantly improve the course of Duchenne muscular dystrophy, and the company plans to use this data to address a previous Complete Response Letter (CRL) from the FDA [8] - The positive data release has been characterized as a game-changer for Capricor, marking a major defeat for those who had shorted the stock [9] Market Reactions - Martin Shkreli, a prominent short-seller, had previously identified Capricor as a target for shorting, predicting the stock would fall to around $2 per share, but the positive trial results contradicted his expectations [3][4] - Following the data release, Shkreli criticized the company, alleging that it did not meet a "prespecified primary endpoint" and suggesting that the reported results were based on "post-hoc analyses" [6][7]

Core Viewpoint - Silver prices have surged to a historic high, significantly outperforming gold, with a year-to-date increase of approximately 105% [1] Group 1: Price Movement - On December 3, international spot silver rose by 0.8%, reaching a record high of $58.94 per ounce [1] - The domestic futures market also showed strong performance, with the main Shanghai silver contract rising over 2%, achieving eight consecutive days of gains and continuously breaking historical highs [1] Group 2: Supply and Demand Dynamics - Following a silver shortage in London in October, silver inventories from China and the U.S. have flowed into London, alleviating the tight situation, but inventories continue to decline [1] - Shanghai silver inventory has dropped to a near ten-year low, with near-month contract prices exceeding those of far-month contracts, indicating a "backwardation" structure that reflects short-term supply pressure [1] - A global decline in inventories has led to significant signs of warehouse congestion in the spot market, with tight physical delivery conditions triggering a chain reaction of short squeezes that may further drive up silver prices [1] Group 3: Market Analysis - China International Futures believes that silver's rebound potential may be greater than that of gold [1] - While gold remains in an upward channel, it is currently experiencing high-level fluctuations after rapid gains, with future catalysts dependent on the interplay of "declining real interest rates" and "weaker dollar" [1] - In contrast, silver shows stronger short-term certainty, with the historically high "gold-silver ratio" indicating substantial room for correction, and increasing demand from industrial sectors like photovoltaics providing support for silver prices [1]

Core Viewpoint - Beyond Meat experienced a significant stock price surge of over 596% from $0.52 to $3.62 between October 16 and October 21, primarily driven by social media activity rather than a short squeeze [1][5]. Stock Price Movement - The stock price of Beyond Meat rose dramatically, closing at $3.62 on October 21 after starting at $0.52 on October 16, marking a 596% increase [1]. - Following this surge, the stock price fell back to $1.22 by November [5]. Short Selling Dynamics - Short interest in Beyond Meat reached 51.8 million shares as of October 15, up from 27.3 million on July 31 and 39.6 million on September 30, indicating a growing bearish sentiment [4]. - The increase in shares outstanding due to a debt-for-equity swap may have provided short-sellers with more shares to short, potentially alleviating a short squeeze [5]. Financial Performance - Beyond Meat's revenue for the third quarter fell by 13.3% to $70.2 million, with a decline in volume sold both in the U.S. and internationally [7]. - The company's financial struggles suggest that long-term investors should be cautious about investing in Beyond Meat shares [6][7].

Core Insights - Beyond Meat (NASDAQ: BYND) has experienced a significant stock price increase of 22% over the past week, primarily driven by a short squeeze, despite declining popularity in plant-based meat products [1][2] - The recent rally was catalyzed by a tender offer made on October 10, which resulted in the issuance of over 316.1 million additional shares, increasing the outstanding shares from 76.7 million [4][8] - The stock initially fell sharply from $2.01 to a low of $0.52 per share following the share issuance, but short interest rose to nearly 82%, prompting buying activity from investors [5][6] Company Performance - Prior to the recent rally, Beyond Meat's stock was on a downward trajectory, with plunging sales leading to concerns about potential bankruptcy [3] - The stock price peaked at $7.69 per share on October 22 before closing at $3.58, and subsequently fell to $1.81 per share [6] Market Dynamics - The increase in outstanding shares complicates the situation for investors, as they now need to purchase more than four times the number of shares to influence the stock price compared to previous conditions [8][9] - The current market dynamics for Beyond Meat differ significantly from those of GameStop, particularly due to the massive increase in share count following the debt exchange [8]