Most investors have heard by now that gold (GCG26) has been on a tear for the last year. And silver (SIH26), its unruly little brother, has been tagging along for the ride. But in recent months – since the April correction – silver (100% ytd) has outperformed gold (55% ytd). That could be because gold had gotten too expensive in relation to silver, and precious metal traders saw value in the grey metal. More News from Barchart This chart shows the gold/silver ratio going back to 2000, and any spike abo ...

Core Insights - Silver has surpassed $60 per ounce, allowing it to purchase more than a barrel of oil for the first time since January 1980, indicating a significant shift in the global commodity market hierarchy [1][2]. Price Movements - Year-to-date, silver has increased by 110%, while oil has decreased by 22%, resulting in a new all-time high for the silver-to-oil ratio [2]. Changing Commodity Dynamics - Historically, oil was the primary indicator of economic growth, with rising oil demand signaling industrial activity and global momentum [5][6]. - The relevance of oil as a growth barometer is diminishing due to advancements in efficiency, electrification, and the transition to clean energy [7]. Silver's Dual Role - Silver is now positioned as both a precious metal and an industrial necessity, influenced by factors such as dollar debasement, U.S. fiscal deficits, and lower interest rates [8]. - The metal's industrial demand is increasing, particularly in solar panels and photovoltaic cells, where its unique electrical conductivity is irreplaceable [9]. Technological Applications - Silver is becoming increasingly important in high-performance electronics, advanced semiconductors, data centers, and AI infrastructure, contributing to its distinct market position compared to oil [10]. Supply Dynamics - A structural shift in the market is indicated by a growing global demand for physical silver, with delivery stress becoming more pronounced [11]. - The London silver lease rate has risen to the 7.5%-8% range, historically signaling tightening physical supply [12].

Silver price refreshed its record high on Friday, proving that the rally was not just Fed-driven. With the persistent economic uncertainties and geopolitical risks, investors are seeking exposure in t... ...

Core Viewpoint - Silver prices have surged for the fourth consecutive day, driven by ETF inflows, momentum trading strategies, and tight physical market conditions, positioning silver for its best year since 1979 [2][4]. Group 1: Price Movement and Market Dynamics - Silver prices reached a historical high above $64, with a weekly increase of approximately 10%, influenced by dovish signals from the Federal Reserve [2]. - The recent price surge occurred after a significant short squeeze in the London silver market, where ETF inflows and exports to India depleted already low inventories [4]. - The gold-silver ratio fell to its lowest level since 2021, approximately 1:67, indicating a relative cheapness of silver [4]. Group 2: Speculative Activity and Options Market - There is a notable increase in bullish options buying, with total open interest in call options for the iShares Silver Trust (SLV) reaching its highest level since 2020 [5]. - The cost of purchasing call options has surged to multi-year highs compared to put options, indicating strong speculative interest [5]. - A significant number of call options with a strike price of $57 are set to expire, potentially prompting traders to buy stocks to rebalance their positions [5]. Group 3: Industrial Demand and Future Outlook - The Silver Institute reported an expected surge in industrial applications, particularly in solar photovoltaics and electric vehicles, which may drive future demand [6]. - The sharp rise in silver prices could potentially weaken industrial demand, as silver now constitutes about one-quarter of the cost structure in photovoltaics [6]. - Year-to-date, silver prices have increased by 120%, outpacing gold's 65% rise, with ETFs adding 35 million ounces of silver holdings in the past month [7].

FUNDAMENTALS * U.S. * The U.S. dollar plummeted to an eight-week low in the previous session, making greenback-priced gold more affordable for overseas buyers. Live Events* The number of Americans filing new applications for * A majority of U.S. central bankers expect they will need to cut short-term * Fed Chair Jerome Powell also declined to offer any guidance on whether another cut is likely in the near term. * Non-yielding assets such as gold tend to perform well in low-interest-rate environments. * Inve ...

中金研究分析称，展望未来，鉴于经济与就业数据仍面临下行压力，预计美联储或将在2026年继续降 息；但考虑到通胀粘性犹存，降息节奏趋于放缓。2026年1月可能按兵不动，下一次降息或在2026年3 月。 消息面上，根据美劳工部周四公布的数据，在截至12月6日的一周内，初请失业金人数增加了4.4万人， 达到23.6万人，高于市场预期的22万人，这是自2020年3月以来的最大增幅。而在此前一周，该数字曾 创下三年多来的最低水平。 12月11日，美联储降息落地，金价冲高回落，受鲍威尔鸽派言论及就业市场低迷双重催化，纽约金价尾 盘再度拉升，重新站上4300美元关口，创近一个月新高。截至收盘，COMEX黄金期货涨2.00%报 4309.30美元/盎司；截至亚市收盘，黄金ETF华夏（518850）涨0.17%，黄金股ETF（159562）涨跌持 平。 ...

Group 1 - The core viewpoint highlights a significant split in the commodities market, with crude oil prices plummeting while precious metals and copper experience substantial gains [1][3] - WTI crude oil fell by 1.47%, closing at $57.6 per barrel, marking the lowest level since October, while silver surged by 3.8% to surpass $64 per ounce, reaching a historical high [3] - Gold increased by 0.9% to $4268, and copper prices soared by 2.7% to $11872 per ton, setting a new record [3] Group 2 - The underlying logic suggests that the Federal Reserve's three consecutive interest rate cuts and a $500 billion expansion of the balance sheet have directly fueled the rise in precious and base metals [4] - The surge in copper prices is attributed to an upward revision of the U.S. GDP forecast for 2026 to 2.3%, indicating a clear signal of economic improvement [4] - In contrast, crude oil is being weighed down by oversupply, with the IEA predicting a surplus of 3.815 million barrels per day in 2026, negating any benefits from geopolitical conflicts [4] Group 3 - The article raises questions about the sustainability of silver at $64, the potential for copper to continue reaching new highs, and whether the drop in crude oil to $57 represents a buying opportunity or a trap [4] - Long-term investment strategies suggest accumulating precious metals on dips, closely monitoring demand for base metals, and waiting for signals of a supply-demand reversal in crude oil [4]

Gold prices found a bottom in 1999 at around $252.50 per ounce when the Bank of England sold half of the U.K.’s reserves, establishing a significant price bottom. Gold’s bull market is now moving into its twenty-seventh year.While the silver market is in a structural deficit amid rising industrial demand, investment demand is booming in late 2025, with the price heading toward a challenge of the $65 per ounce level.Silver is a highly speculative metal that attracts herds of investors and speculators when si ...

Chip Somodevilla/Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. In the world of investing, few have achieved a track record as remarkable as Warren Buffett. From 1964 to 2023, he steered Berkshire Hathaway (BRK.B) to a staggering total return of 4,384,748%, far surpassing the S&P 500's already impressive gain of 31,223% during the same timeframe. Despite his knack for making savvy investments, the Oracle of Omaha doesn’t always go all in ...

Group 1: Silver Market Performance - New York silver futures have shown a strong upward trend, reaching a peak of $63.25 per ounce, with a current price of $62.355, marking a 2.17% increase from the previous trading day and an overall increase of over 112% this year [2] - The rise in silver prices is significantly higher than gold's approximately 60% increase this year, with platinum and palladium also lagging behind at 84.30% and 64.26% respectively [2] - The surge in silver prices is attributed to the Federal Reserve's monetary policy decisions and a critical supply-side contraction [2] Group 2: Investment Dynamics - The silver market has seen a diversification of participants, including both individual and institutional investors, with a notable increase in retail investor activity since July [3] - The current gold-silver ratio stands at 68.22, indicating that silver is rising faster than gold, suggesting a market correction of previously overvalued ratios [4] - The industrial demand for silver, particularly from the photovoltaic sector, is expected to drive continued growth in silver prices, while supply constraints persist [9] Group 3: Federal Reserve's Monetary Policy - The Federal Reserve has lowered interest rates by 25 basis points, with the federal funds rate now between 3.50% and 3.75%, and announced a liquidity injection plan of $40-60 billion over the next 30 days [6] - There is significant internal disagreement within the Federal Reserve regarding future interest rate policies, with some members advocating for substantial rate cuts while others support maintaining current rates [7][8] - The Fed's recent decisions have contributed to a decrease in the dollar index and a drop in 10-year Treasury yields, which in turn lowers the holding costs for gold and silver [6] Group 4: Supply and Demand Outlook - The World Silver Association projects a supply-demand gap of over 6,000 tons for silver in 2025, driven by industrial demand, particularly in the photovoltaic sector [9] - The silver market is expected to experience a fifth consecutive year of annual deficits due to limited production capacity and rising industrial and investment demand [9] - The iShares Silver Trust has seen significant inflows, indicating strong investor interest and providing further support for silver prices [9] Group 5: Future Price Predictions - Analysts predict that silver prices could reach $100 by the end of next year, driven by strong demand from cultural, festive, and industrial sectors, alongside ongoing supply constraints [11] - The overall market sentiment remains optimistic about silver's performance, with expectations of continued price increases due to the dual expansion of U.S. fiscal and monetary policies [10]