Why has silver recently surged so strongly? It has outperformed gold significantly.

Basically, there are two engines driving this simultaneously. One is the financial side—the expectation of possible Federal Reserve rate cuts has caused the US dollar and US Treasury yields to be suppressed, making non-interest-bearing assets more attractive. But here’s a key point: silver has a much smaller market cap than gold, so when speculative funds enter, the multiplier effect is particularly pronounced, and its sensitivity to interest rate changes is higher. Therefore, with the same rate cut expectations, silver’s price increase directly outpaces gold.

The other engine comes from industrial demand. This is an exclusive advantage for silver—50% of global silver demand comes from photovoltaics, chip manufacturing, and electronic components. Currently, global manufacturing shows signs of recovery, coupled with the acceleration of new energy and green industry transformation, leading to sustained increases in industrial procurement needs.

The result is a "financial attribute + industrial attribute" dual upward push. This isn’t just hype; both logic and fundamentals support it. The key question is: how long can this momentum last? Do you think silver still has room to grow?

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