<p>受 <strong>iShares Silver Trust</strong> (NYSE: SLV] 追蹤的銀期貨在週二實現反彈，此前週一的歷史性暴跌標誌着五年來最大的單日下跌。</p>
<ul>
<li><strong>SLV 股票正在上漲。查看圖表和價格走勢。</strong></li>
</ul>
<p>這種白色金屬在 2025 年幾乎超越了所有其他資產類別，找到了支撐，買家紛紛湧入以利用價格下跌，推動黃金、銅和鉑金在廣泛的金屬反彈中上漲。</p>
<h2><strong>週一的崩盤</strong></h2>
<p>週一的閃電崩盤有多個觸發因素：</p>
<p>CME 集團提高了 保證金要求，使單個銀合約的成本上升至 25,000 美元，觸發了強制平倉，加上獲利了結的潮流，使得下跌演變為一場慘敗。在銀價年初至今飆升 180% 後，許多交易者在 2026 税年開始前鎖定了利潤。</p>
<p><strong>接下來閲讀：</strong> 金屬表現得像迷因股票——關於重大銀保證金追繳的未確認傳聞</p>
<p>社交媒體上關於一個未驗證的 大規模保證金追繳 的傳聞在 “八大” 貴金屬銀行之一中流傳。</p>
<p>此外，關於烏克蘭 - 俄羅斯衝突可能達成和平突破的報道短暫削弱了銀的避險溢價，造成流動性真空，使價格在數小時內從近 84 美元/盎司暴跌至 72 美元區間。</p>
<p>其他金屬，包括黃金、銅和鉑金，週一也大幅下跌。</p>
<h2><strong>週二的反彈</strong></h2>
<p>這次回撤證明是短暫的。到週二，銀價上漲超過 5%，隨着投資者關注長期困擾市場的結構性供應短缺，重新奪回了失地。</p>
<p>其他金屬也隨之上漲：</p>
<ul>
<li>黃金，由 <strong>SPDR Gold Shares ETF</strong>(NYSE: GLD) 追蹤，從其低於 4,400 美元/盎司的跌幅中恢復，受到中央銀行持續增持和地緣政治對沖的支持。</li>
<li>鉑金，由 <strong>abrdn Physical Platinum Shares ETF</strong>(NYSE: PPLT) 追蹤，週二上漲超過 5%，繼續作為 “追趕” 熱門。</li>
<li>銅，由 <strong>Global X Copper Miners ETF</strong> (NYSE: COPX) 追蹤，因對數據中心的 AI 驅動需求造成的供應限制超過了暫時的技術性拋售而上漲。</li>
</ul>
<h2><strong>歷史性的年份</strong></h2>
<p>儘管近期波動，2025 年仍然是金屬的突出年份。雖然標準普爾 500 指數年初至今上漲了 18%，但金屬市場的表現遠超其：</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>金屬</strong></td>
<td><strong>2025 年年初至今漲幅</strong></td>
<td><strong>主要驅動因素</strong></td>
</tr>
<tr>
<td><strong>銀</strong></td>
<td>164%</td>
<td>太陽能和工業短缺</td>
</tr>
<tr>
<td><strong>鉑金</strong></td>
<td>147%</td>
<td>供應短缺和投資需求</td>
</tr>
<tr>
<td><strong>黃金</strong></td>
<td>66%</td>
<td>中央銀行購買和去美元化</td>
</tr>
<tr>
<td><strong>銅</strong></td>
<td>43%</td>
<td>電氣化和 AI 基礎設施</td>
</tr>
</tbody>
</table>
<p><strong>接下來閲讀：</strong></p>
<ul>
<li>十大最被做空股票：Lucid、MARA、Hims 等</li>
</ul>
<p><em>照片來源：Shutterstock</em></p>

<p>銀期貨在週二反彈，結束了歷史性的暴跌，標誌着五年來最劇烈的單日下跌。此次反彈是由於買家利用價格下跌進行買入，導致包括黃金、銅和鉑金在內的廣泛金屬反彈。前一天的崩盤是由於保證金要求的增加和在年初至今上漲 180% 後的獲利了結。儘管市場動盪，2025 年仍然是金屬市場的突出年份，預計將因供應短缺和投資需求而實現顯著增長</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] 追蹤的銀期貨在週二實現反彈，此前週一的歷史性暴跌標誌着五年來最大的單日下跌。</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 股票正在上漲。查看圖表和價格走勢。</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>這種白色金屬在 2025 年幾乎超越了所有其他資產類別，找到了支撐，買家紛紛湧入以利用價格下跌，推動黃金、銅和鉑金在廣泛的金屬反彈中上漲。</p>
</div><h2><strong>Monday's Crash</strong></h2>
<div class="lb-trans"><h2><strong>週一的崩盤</strong></h2>
</div><p>Monday's flash crash had multiple triggers:</p>
<div class="lb-trans"><p>週一的閃電崩盤有多個觸發因素：</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 集團提高了 保證金要求，使單個銀合約的成本上升至 25,000 美元，觸發了強制平倉，加上獲利了結的潮流，使得下跌演變為一場慘敗。在銀價年初至今飆升 180% 後，許多交易者在 2026 税年開始前鎖定了利潤。</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>接下來閲讀：</strong> 金屬表現得像迷因股票——關於重大銀保證金追繳的未確認傳聞</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>社交媒體上關於一個未驗證的 大規模保證金追繳 的傳聞在 “八大” 貴金屬銀行之一中流傳。</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，關於烏克蘭 - 俄羅斯衝突可能達成和平突破的報道短暫削弱了銀的避險溢價，造成流動性真空，使價格在數小時內從近 84 美元/盎司暴跌至 72 美元區間。</p>
</div><p>Other metals, including gold, copper and platinum, also tumbled Monday.</p>
<div class="lb-trans"><p>其他金屬，包括黃金、銅和鉑金，週一也大幅下跌。</p>
</div><h2><strong>Tuesday's Rebound</strong></h2>
<div class="lb-trans"><h2><strong>週二的反彈</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>這次回撤證明是短暫的。到週二，銀價上漲超過 5%，隨着投資者關注長期困擾市場的結構性供應短缺，重新奪回了失地。</p>
</div><p>Other metals followed:</p>
<div class="lb-trans"><p>其他金屬也隨之上漲：</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>黃金，由 <strong>SPDR Gold Shares ETF</strong>(NYSE: GLD) 追蹤，從其低於 4,400 美元/盎司的跌幅中恢復，受到中央銀行持續增持和地緣政治對沖的支持。</li>
<li>鉑金，由 <strong>abrdn Physical Platinum Shares ETF</strong>(NYSE: PPLT) 追蹤，週二上漲超過 5%，繼續作為 “追趕” 熱門。</li>
<li>銅，由 <strong>Global X Copper Miners ETF</strong> (NYSE: COPX) 追蹤，因對數據中心的 AI 驅動需求造成的供應限制超過了暫時的技術性拋售而上漲。</li>
</ul>
</div><h2><strong>A Year for the History Books</strong></h2>
<div class="lb-trans"><h2><strong>歷史性的年份</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>儘管近期波動，2025 年仍然是金屬的突出年份。雖然標準普爾 500 指數年初至今上漲了 18%，但金屬市場的表現遠超其：</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>金屬</strong></td>
<td><strong>2025 年年初至今漲幅</strong></td>
<td><strong>主要驅動因素</strong></td>
</tr>
<tr>
<td><strong>銀</strong></td>
<td>164%</td>
<td>太陽能和工業短缺</td>
</tr>
<tr>
<td><strong>鉑金</strong></td>
<td>147%</td>
<td>供應短缺和投資需求</td>
</tr>
<tr>
<td><strong>黃金</strong></td>
<td>66%</td>
<td>中央銀行購買和去美元化</td>
</tr>
<tr>
<td><strong>銅</strong></td>
<td>43%</td>
<td>電氣化和 AI 基礎設施</td>
</tr>
</tbody>
</table>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>接下來閲讀：</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>照片來源：Shutterstock</em></p>
</div>

白銀在經歷了五年來最糟糕的一天後反彈——金屬市場回暖