<p>受 <strong>iShares Silver Trust</strong> (NYSE: SLV] 追踪的银期货在周二实现反弹，此前周一的历史性暴跌标志着五年来最大的单日下跌。</p>
<ul>
<li><strong>SLV 股票正在上涨。查看图表和价格走势。</strong></li>
</ul>
<p>这种白色金属在 2025 年几乎超越了所有其他资产类别，找到了支撑，买家纷纷涌入以利用价格下跌，推动黄金、铜和铂金在广泛的金属反弹中上涨。</p>
<h2><strong>周一的崩盘</strong></h2>
<p>周一的闪电崩盘有多个触发因素：</p>
<p>CME 集团提高了 保证金要求，使单个银合约的成本上升至 25,000 美元，触发了强制平仓，加上获利了结的潮流，使得下跌演变为一场惨败。在银价年初至今飙升 180% 后，许多交易者在 2026 税年开始前锁定了利润。</p>
<p><strong>接下来阅读：</strong> 金属表现得像迷因股票——关于重大银保证金追缴的未确认传闻</p>
<p>社交媒体上关于一个未验证的 大规模保证金追缴 的传闻在 “八大” 贵金属银行之一中流传。</p>
<p>此外，关于乌克兰 - 俄罗斯冲突可能达成和平突破的报道短暂削弱了银的避险溢价，造成流动性真空，使价格在数小时内从近 84 美元/盎司暴跌至 72 美元区间。</p>
<p>其他金属，包括黄金、铜和铂金，周一也大幅下跌。</p>
<h2><strong>周二的反弹</strong></h2>
<p>这次回撤证明是短暂的。到周二，银价上涨超过 5%，随着投资者关注长期困扰市场的结构性供应短缺，重新夺回了失地。</p>
<p>其他金属也随之上涨：</p>
<ul>
<li>黄金，由 <strong>SPDR Gold Shares ETF</strong>(NYSE: GLD) 追踪，从其低于 4,400 美元/盎司的跌幅中恢复，受到中央银行持续增持和地缘政治对冲的支持。</li>
<li>铂金，由 <strong>abrdn Physical Platinum Shares ETF</strong>(NYSE: PPLT) 追踪，周二上涨超过 5%，继续作为 “追赶” 热门。</li>
<li>铜，由 <strong>Global X Copper Miners ETF</strong> (NYSE: COPX) 追踪，因对数据中心的 AI 驱动需求造成的供应限制超过了暂时的技术性抛售而上涨。</li>
</ul>
<h2><strong>历史性的年份</strong></h2>
<p>尽管近期波动，2025 年仍然是金属的突出年份。虽然标准普尔 500 指数年初至今上涨了 18%，但金属市场的表现远超其：</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>金属</strong></td>
<td><strong>2025 年年初至今涨幅</strong></td>
<td><strong>主要驱动因素</strong></td>
</tr>
<tr>
<td><strong>银</strong></td>
<td>164%</td>
<td>太阳能和工业短缺</td>
</tr>
<tr>
<td><strong>铂金</strong></td>
<td>147%</td>
<td>供应短缺和投资需求</td>
</tr>
<tr>
<td><strong>黄金</strong></td>
<td>66%</td>
<td>中央银行购买和去美元化</td>
</tr>
<tr>
<td><strong>铜</strong></td>
<td>43%</td>
<td>电气化和 AI 基础设施</td>
</tr>
</tbody>
</table>
<p><strong>接下来阅读：</strong></p>
<ul>
<li>十大最被做空股票：Lucid、MARA、Hims 等</li>
</ul>
<p><em>照片来源：Shutterstock</em></p>

<p>银期货在周二反弹，结束了历史性的暴跌，标志着五年来最剧烈的单日下跌。此次反弹是由于买家利用价格下跌进行买入，导致包括黄金、铜和铂金在内的广泛金属反弹。前一天的崩盘是由于保证金要求的增加和在年初至今上涨 180% 后的获利了结。尽管市场动荡，2025 年仍然是金属市场的突出年份，预计将因供应短缺和投资需求而实现显著增长</p>

<p>Silver futures, tracked by the <strong>iShares Silver Trust</strong> (NYSE: SLV), staged a recovery on Tuesday, following Monday's historic plunge which marked the sharpest single-day decline in five years.</p>
<div class="lb-trans"><p>受 <strong>iShares Silver Trust</strong> (NYSE: SLV] 追踪的银期货在周二实现反弹，此前周一的历史性暴跌标志着五年来最大的单日下跌。</p>
</div><ul>
<li><strong>SLV shares are climbing. See the chart and price action here.</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>SLV 股票正在上涨。查看图表和价格走势。</strong></li>
</ul>
</div><p>The white metal, which has outshone almost every other asset class in 2025, found support as buyers rushed in to capitalize on the dip, dragging gold, copper and platinum upward in a broad metals rally.</p>
<div class="lb-trans"><p>这种白色金属在 2025 年几乎超越了所有其他资产类别，找到了支撑，买家纷纷涌入以利用价格下跌，推动黄金、铜和铂金在广泛的金属反弹中上涨。</p>
</div><h2><strong>Monday's Crash</strong></h2>
<div class="lb-trans"><h2><strong>周一的崩盘</strong></h2>
</div><p>Monday's flash crash had multiple triggers:</p>
<div class="lb-trans"><p>周一的闪电崩盘有多个触发因素：</p>
</div><p>The CME Group’s hike in margin requirements raised the cost of a single silver contract to $25,000, triggering forced liquidations, which combined with a wave of profit-taking to turn the dip into a rout. After silver's blistering 180% year-to-date gain, many traders locked in profits before the 2026 tax year began.</p>
<div class="lb-trans"><p>CME 集团提高了 保证金要求，使单个银合约的成本上升至 25,000 美元，触发了强制平仓，加上获利了结的潮流，使得下跌演变为一场惨败。在银价年初至今飙升 180% 后，许多交易者在 2026 税年开始前锁定了利润。</p>
</div><p><strong>Read Next:</strong> Metals Acting Like Meme Stocks—Unconfirmed Rumor Of Major Silver Margin Call</p>
<div class="lb-trans"><p><strong>接下来阅读：</strong> 金属表现得像迷因股票——关于重大银保证金追缴的未确认传闻</p>
</div><p>Rumors swirled on social media regarding an unverified massive margin call involving one of the “Big 8” bullion banks.</p>
<div class="lb-trans"><p>社交媒体上关于一个未验证的 大规模保证金追缴 的传闻在 “八大” 贵金属银行之一中流传。</p>
</div><p>Additionally, reports of a potential peace breakthrough in the Ukraine-Russia conflict briefly dented silver’s safe-haven premium, creating a liquidity vacuum that saw prices plummet from nearly $84/oz to the $72 range in a matter of hours.</p>
<div class="lb-trans"><p>此外，关于乌克兰 - 俄罗斯冲突可能达成和平突破的报道短暂削弱了银的避险溢价，造成流动性真空，使价格在数小时内从近 84 美元/盎司暴跌至 72 美元区间。</p>
</div><p>Other metals, including gold, copper and platinum, also tumbled Monday.</p>
<div class="lb-trans"><p>其他金属，包括黄金、铜和铂金，周一也大幅下跌。</p>
</div><h2><strong>Tuesday's Rebound</strong></h2>
<div class="lb-trans"><h2><strong>周二的反弹</strong></h2>
</div><p>The retreat proved short-lived. By Tuesday, silver was up over 5%, reclaiming ground as investors focused on the structural supply deficits that have plagued the market for years.</p>
<div class="lb-trans"><p>这次回撤证明是短暂的。到周二，银价上涨超过 5%，随着投资者关注长期困扰市场的结构性供应短缺，重新夺回了失地。</p>
</div><p>Other metals followed:</p>
<div class="lb-trans"><p>其他金属也随之上涨：</p>
</div><ul>
<li>Gold, tracked by the <strong>SPDR Gold Shares ETF</strong>(NYSE: GLD), recovered from its dip below $4,400/oz, supported by persistent central bank accumulation and geopolitical hedging.</li>
<li>Platinum, tracked by the <strong>abrdn Physical Platinum Shares ETF</strong>(NYSE: PPLT), jumped over 5% Tuesday, continuing its status as a “catch-up” favorite.</li>
<li>Copper, tracked by the <strong>Global X Copper Miners ETF</strong> (NYSE: COPX), rose as supply constraints in AI-driven demand for data centers outweighed temporary technical selling.</li>
</ul>
<div class="lb-trans"><ul>
<li>黄金，由 <strong>SPDR Gold Shares ETF</strong>(NYSE: GLD) 追踪，从其低于 4,400 美元/盎司的跌幅中恢复，受到中央银行持续增持和地缘政治对冲的支持。</li>
<li>铂金，由 <strong>abrdn Physical Platinum Shares ETF</strong>(NYSE: PPLT) 追踪，周二上涨超过 5%，继续作为 “追赶” 热门。</li>
<li>铜，由 <strong>Global X Copper Miners ETF</strong> (NYSE: COPX) 追踪，因对数据中心的 AI 驱动需求造成的供应限制超过了暂时的技术性抛售而上涨。</li>
</ul>
</div><h2><strong>A Year for the History Books</strong></h2>
<div class="lb-trans"><h2><strong>历史性的年份</strong></h2>
</div><p>Despite the recent turbulence, 2025 remains a stand-out year for metals. While the S&amp;P 500 has delivered a respectable 18% year-to-date, the metals complex has far surpassed it:</p>
<div class="lb-trans"><p>尽管近期波动，2025 年仍然是金属的突出年份。虽然标准普尔 500 指数年初至今上涨了 18%，但金属市场的表现远超其：</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Metal</strong></td>
<td><strong>2025 YTD Gain</strong></td>
<td><strong>Key Driver</strong></td>
</tr>
<tr>
<td><strong>Silver</strong></td>
<td>164%</td>
<td>Solar energy &amp; industrial shortage</td>
</tr>
<tr>
<td><strong>Platinum</strong></td>
<td>147%</td>
<td>Supply deficits &amp; investment demand</td>
</tr>
<tr>
<td><strong>Gold</strong></td>
<td>66%</td>
<td>Central bank buying &amp; de-dollarization</td>
</tr>
<tr>
<td><strong>Copper</strong></td>
<td>43%</td>
<td>Electrification &amp; AI infrastructure</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>金属</strong></td>
<td><strong>2025 年年初至今涨幅</strong></td>
<td><strong>主要驱动因素</strong></td>
</tr>
<tr>
<td><strong>银</strong></td>
<td>164%</td>
<td>太阳能和工业短缺</td>
</tr>
<tr>
<td><strong>铂金</strong></td>
<td>147%</td>
<td>供应短缺和投资需求</td>
</tr>
<tr>
<td><strong>黄金</strong></td>
<td>66%</td>
<td>中央银行购买和去美元化</td>
</tr>
<tr>
<td><strong>铜</strong></td>
<td>43%</td>
<td>电气化和 AI 基础设施</td>
</tr>
</tbody>
</table>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>接下来阅读：</strong></p>
</div><ul>
<li>Top 10 Most Shorted Stocks: Lucid, MARA, Hims and More</li>
</ul>
<div class="lb-trans"><ul>
<li>十大最被做空股票：Lucid、MARA、Hims 等</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片来源：Shutterstock</em></p>
</div>

白银在经历了五年来最糟糕的一天后反弹——金属市场回暖