The global silver market is on a tight spot. As of December 3, the London spot silver price was 58.365 US dollars/ounce, a record high. The cumulative increase in silver prices during the year nearly doubled, while the increase in gold prices during the same period was only more than 50%. On December 4, I visited Shuibei in Shenzhen and saw that the wholesale business of silver jewelry and silver ingots was booming. The sales price of Shuibei silver jewelry has reached 16.52 yuan/gram, while the wholesale price of silver ingots has risen to 13.378 yuan/gram, setting a record high for Shuibei silver. The owner of a silverware wholesale store in Shuibei said, “Recently, there has been a marked increase in the number of customers buying silverware and silver ingots, especially silver ingots. Because there are no labor costs, many customers have bought them for investment.” At a silver ingot wholesale counter in Shuibei, the owner said, “Currently, the best-selling silver ingots are 500 grams and 1000 grams. Many retail investors who previously invested in gold have recently switched to investing in silver. Because the price of gold has risen too high, there is limited room for growth. However, the unit price of silver is lower, making it easier for retail investors to participate and use the same funds to buy more.”

The global silver market is on a tight spot. As of December 3, the London spot silver price was 58.365 US dollars/ounce, a record high. The cumulative increase in silver prices during the year nearly doubled, while the increase in gold prices during the same period was only more than 50%. On December 4, I visited Shuibei in Shenzhen and saw that the wholesale business of silver jewelry and silver ingots was booming. The sales price of Shuibei silver jewelry has reached 16.52 yuan/gram, while the wholesale price of silver ingots has risen to 13.378 yuan/gram, setting a record high for Shuibei silver. The owner of a silverware wholesale store in Shuibei said, “Recently, there has been a marked increase in the number of customers buying silverware and silver ingots, especially silver ingots. Because there are no labor costs, many customers have bought them for investment.” At a silver ingot wholesale counter in Shuibei, the owner said, “Currently, the best-selling silver ingots are 500 grams and 1000 grams. Many retail investors who previously invested in gold have recently switched to investing in silver. Because the price of gold has risen too high, there is limited room for growth. However, the unit price of silver is lower, making it easier for retail investors to participate and use the same funds to buy more.”