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2025-12-15 18:33:57
[Silver Surges to Record Highs Amid Low Inventories and Strong Demand; Caution Required After the Frenzy] ⑴ Spot silver hit a record high last Friday, with a year-to-date gain exceeding 120%, meaning it is poised for its largest annual gain since 1979. ⑵ Meanwhile, the gold-silver ratio briefly fell below 67, its lowest level since June 2021, and is currently only slightly above its 50-year average. ⑶ This strong performance in silver is mainly attributed to global exchange-traded silver inventories falling to near-decade lows, while silver ETF holdings have increased significantly, with data showing a 1,145-ton increase in holdings within a month. ⑷ Although the short-term rally has accumulated substantial gains, the market needs to remain cautious, but the long-term fundamental outlook remains optimistic. ⑸ According to the World Silver Institute's demand report, demand for silver in areas such as photovoltaics, electric vehicles, and data centers/artificial intelligence is expected to grow significantly in the coming years, supporting its long-term value.
