全球白银市场2025年"疯涨"行情解析：历史性突破背后的驱动逻辑与未来展望 一、核心行情确认：白银创历史新高，涨幅远超黄金 2025年12月17日，全球白银市场迎来历史性时刻：伦敦现货白银价格接连突破65美元/盎司、66美元/盎 司两道关键关口，盘中最高触及66.51美元/盎司，创历史新高；COMEX白银期货主力合约同步大涨超 5%，峰值达66.5美元/盎司。截至12月18日，现货白银最新报价66.29美元/盎司，继续维持高位。 从年度涨幅看，2025年以来白银价格已累计上涨约120%（部分数据显示130%），是同期黄金涨幅（约 60%）的2倍，成为贵金属市场的"超级黑马"。 二、本轮"疯涨"的核心驱动因素 白银价格的暴涨并非偶然，而是供需失衡、美联储货币政策转向及资金涌入三大因素共振的结果，其中 供需结构是长期支撑，货币政策与资金面是短期催化。 全球白银市场正迎来历史性时刻，短短数周内开启连续刷新纪录的上涨行情。12月17日，现货白银价格 接连突破65美元/盎司、66美元/盎司两道关口，并向67美元/盎司逼近。今年以来，现货白银涨幅已达约 130%，是同期黄金期货涨幅的2倍。供需失衡、美联储降息以及资金涌入 ...

目前，伦敦银现盘中最高触及 61.607 美元 / 盎司，最新报价 61.384 美元 / 盎司；COMEX白银期货触及 61.295 美元 / 盎司的历史新高；国内市场中，沪银期货主力合约突破 14000 元 / 千克大关。 今年以来，白银的涨幅已经超过了100%，涨势超过了黄金。 图片来源网络 面对白银的火爆行情，机构观点出现了明显分化。看多派以瑞银为代表，将 2026 年白银目标价上调至 58-60 美元 / 盎司，甚至不排除触及 65 美元 / 盎司的可能。花旗与渣打预测 2025 年第四季度至 2026 年 第一季度，白银价格将稳定在 55 美元 / 盎司以上。国投期货认为，在流动性较为充裕背景下，白银期 价仍有可能冲破整数关口。 然而，也有机构发出了谨慎的声音。比如瑞达期货警告，考虑到白银年内累计涨幅已超过 100%，短期 内投资者对宏观消息的敏感度可能显著上升，任何不及预期的宏观数据都可能放大回调风险。道明证券 更是直接警告，2026 年全球白银供给将大幅补充，伦敦金库库存充足，明年初银价可能回落至 40 美元 中段。 图片来源网络 白银价格的疯狂上涨是多重因素共同作用的结果。 首先，供需严重失 ...

Core Viewpoint - The article discusses the significant influx of capital into Exchange-Traded Funds (ETFs), highlighting three main directions for investment opportunities in the ETF market [2] Group 1: Investment Trends - There is a notable trend of over $1 trillion flowing into ETFs, indicating a strong investor interest in this asset class [2] - The article identifies three key areas attracting this capital: thematic investing, sustainable investing, and international diversification [2] Group 2: Thematic Investing - Thematic ETFs are gaining popularity as investors seek exposure to specific trends and sectors, such as technology and healthcare [2] - Thematic investing allows for targeted strategies that align with current market dynamics and consumer behavior [2] Group 3: Sustainable Investing - Sustainable ETFs are seeing increased demand as investors prioritize environmental, social, and governance (ESG) factors in their investment decisions [2] - The growth in sustainable investing reflects a broader shift towards responsible investing practices among institutional and retail investors [2] Group 4: International Diversification - International ETFs are becoming more attractive as investors look to diversify their portfolios beyond domestic markets [2] - This trend is driven by the potential for higher returns in emerging markets and the desire to mitigate risks associated with local economic conditions [2]

2、两类刹车力还未出现，市场"无视坏消息"继续向上 如有疑问请以音频内容为准，添加妙投小虎哥微信miaotou515，入群有机会与董小姐进一步交流。 新闻解读评级说明：五星重磅，四星重要，三星级以下大家选择听。 本篇评级为★★★，主要围绕以下内容展开： 每天10分钟拆解新闻背后的逻辑。大家好，今天是2025年的8月17号星期天，我是董小姐。 1、资金还在涌入吗？ 1、资金还在涌入吗？ 上周的国内市场无疑异常亢奋，这种亢奋感是否可能延续？我们一起来梳理周末发生的重要新闻与公布 的关键数据。 首先需要明确一点：8月中旬市场热度骤然上升，背后最核心的推动力，目前来看是资金层面的认可。 其中包括部分大户、游资以及私募，在8月中旬选择跑步入场、大幅加仓，令行情瞬间启动。截至8月15 日，也就是上周五，资金流入并未出现衰减迹象，市场的亢奋程度依旧高企。 本文为妙投付费内容，上述仅为摘要，购买本专栏即可解锁完整内容。新用户可免费领本专栏7天阅读 体验机会，在妙投APP-我的-权益兑换 输入"妙投888"即可领取。 ...

Group 1: Core Insights - A historic metal bull market is driven by supply-demand imbalances, policy catalysts, and capital inflows, with the dollar index falling below 100 and expectations of Federal Reserve rate cuts rising [1] - Copper prices have surged, with London copper exceeding $9,967 and Shanghai copper surpassing ¥80,820, due to a complete supply disruption and soaring demand from infrastructure and electric vehicle sectors [1] - Aluminum profits are robust, with operating rates at 97.65% and a projected supply bottleneck, as demand from solar and electric vehicle industries continues to rise [3] Group 2: Market Dynamics - The copper market is experiencing a significant supply crunch, with major mining companies reducing output and Chinese smelters preparing for production cuts, while demand from the State Grid and electric vehicle charging infrastructure is booming [1] - The aluminum sector is facing a supply constraint, with limited new capacity expected by 2025, yet demand remains strong, particularly from the photovoltaic and automotive sectors [3] - The small metals sector is witnessing explosive growth driven by policy changes, with tungsten prices soaring due to reduced export quotas and strong demand from military and nuclear fusion applications [5] Group 3: Gold Market Trends - Gold prices have surged by 29% in the first half of the year, with central banks globally increasing their gold reserves, indicating a strong bullish sentiment in the gold market [6] - Major gold mining companies are seeing significant inflows, with institutional holdings rising sharply, reflecting increased investor confidence in gold as a safe haven [6] Group 4: Investment Strategies - Key moving averages, such as the 5-day and 20-day, are critical for investment decisions, with specific stocks like Northern Copper and Yun Aluminum being monitored closely for potential buy signals [7] - Investors are advised to remain calm during market fluctuations, as inventory levels for copper and aluminum are lower than in 2016, and policy support is strengthening [7]