<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Flux_Dev_create_an_image_of_highly_polished_silver_bricks_stac_2.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1376" height="768" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Flux_Dev_create_an_image_of_highly_polished_silver_bricks_stac_2.jpg"/></p>
<p>銀長期以來一直處於黃金的陰影之下，但 2025 年是一個轉折點，銀的表現顯著超過黃金。</p>
<p>看起來這波上漲勢頭將在 2026 年繼續。</p>
<p>由於電子產品、可再生能源和電動汽車（EV）前所未有的需求，銀越來越被視為一種關鍵礦物，而不僅僅是貴金屬。</p>
<p>Wheaton Precious Metals 的首席執行官 Randy Smallwood 在上週接受 CNBC 採訪時表示，他的公司對 2026 年的銀 “感到非常興奮”，並指出基本面異常強勁且供應受限。</p>
<p>對於那些想知道是否已經太晚投資銀的投資者，證據表明並非如此——銀的故事才剛剛開始。</p>
<h2>供應限制將推動 2026 年銀價上漲</h2>
<p>在 “<em>Money Movers</em>” 節目中，Randy Smallwood 對銀持超樂觀態度，主要是因為供應瓶頸。</p>
<p>與黃金不同，大多數銀是鉛鋅和銅礦的副產品。根據 Wheaton Precious Metals 首席執行官的説法：</p>
<p>“鉛鋅市場目前並不強勁。當然，銅的價格也處於歷史高位。但這些礦山的生產並不會那麼快增加。”</p>
<p>這意味着銀的供應無法輕易擴大以滿足日益增長的需求，造成結構性失衡。</p>
<p>隨着從移動電子產品到電動汽車的各個行業消耗更多的銀，有限的生產能力確保價格在 2026 年之前保持支撐。</p>
<h2>技術和能源轉型正在增加銀的需求</h2>
<p>銀在現代技術和能源轉型中的作用是長期增長的另一個驅動因素。</p>
<p>Smallwood 強調了銀的獨特屬性，他説：“它使電池壽命更長，提供更高的處理能力。這在我們逐漸進入一個移動世界的過程中非常重要，從電動汽車到智能戒指和智能手錶。”</p>
<p>除了消費電子產品，銀在太陽能電池板和可再生能源基礎設施中也至關重要。隨着全球各國加速能源轉型，銀的需求預計將急劇上升。</p>
<p>Wheaton 已經有 35-40% 的收入來自銀，使其成為全球最大的銀生產商之一。</p>
<p>隨着這些趨勢的加劇，銀的戰略重要性確保其價格軌跡保持上升——這進一步證明在 2026 年之前投資銀可能並不算太晚。</p>
<h2>這對 Wheaton Precious Metals 股票意味着什麼</h2>
<p>預計將在 2026 年推動銀價上漲的上述催化劑對 Wheaton Precious Metals 尤其重要，因為其獨特的商業模式。</p>
<p>作為一家流媒體公司，Wheaton 通過購買礦工的未來生產來鎖定固定成本，使其免受通貨膨脹壓力的影響。</p>
<p>“我們的實際生產成本是固定的。我們沒有像許多同行，尤其是礦業公司那樣面臨的通貨膨脹壓力帶來的成本風險，” Smallwood 指出。</p>
<p>這種穩定性使 WPM 能夠產生創紀錄的現金流——即使在商品價格上漲的情況下。</p>
<p>對於投資者來説，這突顯了通過像 Wheaton 這樣的流媒體公司獲得銀的敞口可以提供槓桿收益，而無需承擔傳統採礦的運營風險。</p>
<p>文章《2026 年銀價預測：投資是否已經太晚，還是上漲勢頭仍在繼續？》最初發布在 Invezz 上。</p>

<p>銀價預計將在 2026 年前繼續上漲，這主要受到電子產品、可再生能源和電動車輛前所未有的需求推動。Wheaton Precious Metals 的首席執行官 Randy Smallwood 強調，強勁的基本面和供應限制是支撐銀價的關鍵因素。由於生產能力有限和工業消費增加，銀的戰略重要性將不斷上升。Wheaton 獨特的流媒體模式使其能夠在銀價上漲的同時降低運營風險，成為考慮投資銀的投資者的一個有吸引力的選擇</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Flux_Dev_create_an_image_of_highly_polished_silver_bricks_stac_2.jpg" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/Flux_Dev_create_an_image_of_highly_polished_silver_bricks_stac_2.jpg"/></p>
<p>Silver has long played second fiddle to gold, but 2025 was a turning point with silver outperforming gold by a significant margin.</p>
<div class="lb-trans"><p>銀長期以來一直處於黃金的陰影之下，但 2025 年是一個轉折點，銀的表現顯著超過黃金。</p>
</div><p>It seems like the rally is set to run into 2026 as well.</p>
<div class="lb-trans"><p>看起來這波上漲勢頭將在 2026 年繼續。</p>
</div><p>With unprecedented demand from electronics, renewable energy, and electric vehicles (EV), silver is increasingly being seen as a critical mineral rather than just a precious metal.</p>
<div class="lb-trans"><p>由於電子產品、可再生能源和電動汽車（EV）前所未有的需求，銀越來越被視為一種關鍵礦物，而不僅僅是貴金屬。</p>
</div><p>Randy Smallwood – the chief executive of Wheaton Precious Metals – told CNBC in an interview last week that his company is “really excited about silver” heading into 2026, citing exceptionally strong fundamentals and constrained supply.</p>
<div class="lb-trans"><p>Wheaton Precious Metals 的首席執行官 Randy Smallwood 在上週接受 CNBC 採訪時表示，他的公司對 2026 年的銀 “感到非常興奮”，並指出基本面異常強勁且供應受限。</p>
</div><p>For investors wondering if it’s already too late to invest in Silver, the evidence suggests otherwise – silver’s story is only beginning.</p>
<div class="lb-trans"><p>對於那些想知道是否已經太晚投資銀的投資者，證據表明並非如此——銀的故事才剛剛開始。</p>
</div><h2>Supply constraints to drive silver price higher in 2026</h2>
<div class="lb-trans"><h2>供應限制將推動 2026 年銀價上漲</h2>
</div><p>On “ <em>Money Movers</em>”, Randy Smallwood took an uber-bullish stance on silver, mostly because of the supply bottleneck.</p>
<div class="lb-trans"><p>在 “<em>Money Movers</em>” 節目中，Randy Smallwood 對銀持超樂觀態度，主要是因為供應瓶頸。</p>
</div><p>Unlike gold, most silver is produced as a byproduct of lead-zinc and copper mining. According to the Wheaton Precious Metals’ chief executive:</p>
<div class="lb-trans"><p>與黃金不同，大多數銀是鉛鋅和銅礦的副產品。根據 Wheaton Precious Metals 首席執行官的説法：</p>
</div><p>“The lead-zinc market isn’t all that strong right now. Copper, of course, is also at record highs. But these mines, they just don’t ramp up that production as fast.”</p>
<div class="lb-trans"><p>“鉛鋅市場目前並不強勁。當然，銅的價格也處於歷史高位。但這些礦山的生產並不會那麼快增加。”</p>
</div><p>This means silver supply can’t easily expand to meet rising demand, creating a structural imbalance.</p>
<div class="lb-trans"><p>這意味着銀的供應無法輕易擴大以滿足日益增長的需求，造成結構性失衡。</p>
</div><p>As industries from mobile electronics to electric vehicles consume more silver, limited production capacity ensures prices remain supported well into 2026.</p>
<div class="lb-trans"><p>隨着從移動電子產品到電動汽車的各個行業消耗更多的銀，有限的生產能力確保價格在 2026 年之前保持支撐。</p>
</div><h2>Tech and energy transition is increasing silver demand</h2>
<div class="lb-trans"><h2>技術和能源轉型正在增加銀的需求</h2>
</div><p>Silver’s role in modern technology and energy transition is another driver of long-term growth.</p>
<div class="lb-trans"><p>銀在現代技術和能源轉型中的作用是長期增長的另一個驅動因素。</p>
</div><p>Smallwood emphasized its unique properties, saying, “it makes batteries last longer, gives higher processing power. That’s important as we gradually moving into a mobile world, all the way from electric vehicles to smart rings and smartwatches.”</p>
<div class="lb-trans"><p>Smallwood 強調了銀的獨特屬性，他説：“它使電池壽命更長，提供更高的處理能力。這在我們逐漸進入一個移動世界的過程中非常重要，從電動汽車到智能戒指和智能手錶。”</p>
</div><p>Beyond consumer electronics, silver is crucial in solar panels and renewable energy infrastructure as well. With governments worldwide accelerating the energy transition, silver demand is expected to rise sharply.</p>
<div class="lb-trans"><p>除了消費電子產品，銀在太陽能電池板和可再生能源基礎設施中也至關重要。隨着全球各國加速能源轉型，銀的需求預計將急劇上升。</p>
</div><p>Wheaton already derives 35-40% of its revenue from silver, making it one of the largest silver producers globally.</p>
<div class="lb-trans"><p>Wheaton 已經有 35-40% 的收入來自銀，使其成為全球最大的銀生產商之一。</p>
</div><p>As these trends intensify, silver’s strategic importance ensures its price trajectory remains upward – reinforcing that it may not be too late to invest in silver heading into 2026.</p>
<div class="lb-trans"><p>隨着這些趨勢的加劇，銀的戰略重要性確保其價格軌跡保持上升——這進一步證明在 2026 年之前投資銀可能並不算太晚。</p>
</div><h2>What all of this means for Wheaton Precious Metals stock</h2>
<div class="lb-trans"><h2>這對 Wheaton Precious Metals 股票意味着什麼</h2>
</div><p>The aforementioned catalysts that are expected to drive silver prices higher in 2026 are especially significant for Wheaton Precious Metals due to its unique business model.</p>
<div class="lb-trans"><p>預計將在 2026 年推動銀價上漲的上述催化劑對 Wheaton Precious Metals 尤其重要，因為其獨特的商業模式。</p>
</div><p>As a streaming company, Wheaton locks in fixed costs by buying future production from miners, insulating itself from inflationary pressures.</p>
<div class="lb-trans"><p>作為一家流媒體公司，Wheaton 通過購買礦工的未來生產來鎖定固定成本，使其免受通貨膨脹壓力的影響。</p>
</div><p>“Our actual production costs are fixed. We don’t have that cost risk that inflationary pressure that so many of our peers, and especially the mining companies, actually do suffer from,” Smallwood noted.</p>
<div class="lb-trans"><p>“我們的實際生產成本是固定的。我們沒有像許多同行，尤其是礦業公司那樣面臨的通貨膨脹壓力帶來的成本風險，” Smallwood 指出。</p>
</div><p>This stability allows WPM to generate record cash flows – even as commodity prices rise.</p>
<div class="lb-trans"><p>這種穩定性使 WPM 能夠產生創紀錄的現金流——即使在商品價格上漲的情況下。</p>
</div><p>For investors, it highlights how silver exposure through streaming names like Wheaton stock can offer leveraged upside without the operational risks of traditional mining.</p>
<div class="lb-trans"><p>對於投資者來説，這突顯了通過像 Wheaton 這樣的流媒體公司獲得銀的敞口可以提供槓桿收益，而無需承擔傳統採礦的運營風險。</p>
</div><p>The post Silver price forecast for 2026: is it too late to invest or the rally still has legs? appeared first on Invezz</p>
<div class="lb-trans"><p>文章《2026 年銀價預測：投資是否已經太晚，還是上漲勢頭仍在繼續？》最初發布在 Invezz 上。</p>
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2026 年白銀價格預測：現在投資是否為時已晚，還是上漲行情仍有潛力？