由于中国出口限制及工业需求波动, 银在2025年创下创纪录120美元/oz, Silver hit a record $120/oz in 2025, dropped 36% to $77 by 2026 due to China’s export restrictions and industrial demand volatility.

2025年,银每盎司120美元创下纪录,由于投资者的需求以及中国在2026年1月1日实行出口限制之后对供应短缺的担心,银在2025年达到创纪录的120美元,高达144%,这将持续到2027年,以确保国内电子制造业的供应。 Silver hit a record $120 per ounce in 2025, surging 144% due to investor demand and fears of a supply shortage after China imposed export restrictions on January 1, 2026, which will last through 2027 to secure domestic supply for electronics manufacturing. 后来价格下跌了36%至约77美元,反映出银的波动由工业需求驱动,因为其供应的一半以上用于制造业。 The price later dropped 36% to about $77, reflecting silver’s volatility driven by industrial demand, as over half of its supply is used in manufacturing. 与黄金不同,银的价值既与工业使用挂钩,也与市场情绪挂钩,银的急剧下降历史 — — 比如在过去几十年里下降了89%和71% — — 更可能比2026年的200美元翻一番下跌,尤其是如果中国放松限制的话。 Unlike gold, silver’s value is tied to both industrial use and market sentiment, and its history of sharp declines—such as 89% and 71% drops in past decades—suggests further downside is more likely than a rally to $200 in 2026, especially if China eases restrictions.