Silver will outperform gold as inflation and economy pick up - Heraeus Precious Metals
賀立氏貴金屬: “隨著通貨膨脹和經濟回暖，白銀將跑贏黃金”
Neils Christensen
Monday April 12, 2021 12:09
Despite its dismal performance, silver remains the precious metals to watch. It could outperform gold as the global economy sees a robust recovery, according to one precious metals firm.
儘管表現不佳，但白銀仍然是值得關注的貴金屬。 一家貴金屬公司表示，由於全球經濟強勁復甦，它的表現可能優於黃金。
In a report published Monday, analysts at Heraeus Precious Metals said that they expect silver prices to continue to outperform gold through 2021 as it benefits from rising inflation and renewed industrial demand as the global economy bounces back from the COVID-19 pandemic.
賀利氏貴金屬公司（Heraeus Precious Metals）的分析師在周一發布的一份報告中表示，他們預計到2021年白銀價格將繼續跑贏黃金，因為受益於通貨膨脹率上升和工業需求的複蘇，因為全球經濟從COVID-19大流行中反彈。
"Consumption from industrial end-users is forecast to extend to a four-year high of 510 [million ounces] this year, with strong growth from the electrical & electronics and photovoltaic (PV) sectors," the analysts said.
分析師說：“預計今年工業最終用戶的消費量將擴大到510 [百萬盎司]的四年高點，其中電氣和電子及光伏（PV）領域的增長強勁。”
Looking at inflation, the analysts noted that the U.S. five-year breakeven inflation rate around 2.6%, its highest level in a decade. The precious metal refiner noted that short-term inflation has also surpassed long-term expectations.
分析通貨膨脹時，分析師指出，美國五年盈虧平衡的通貨膨脹率約為2.6％，是十年來的最高水平。貴金屬提煉商指出，短期通脹也超過了長期預期。
"Last time the five-year breakeven inflation rate was this high was in 2011 and silver was trading around $48/oz, almost double the current price. With precious metals seen as an efficient hedge against inflation, higher inflation expectations should provide upside for silver," the analysts said.
“上一次五年盈虧平衡的通貨膨脹率是在2011年達到如此高的水平，白銀交易價格約為48美元/盎司，幾乎是當前價格的兩倍。鑑於貴金屬可以有效地對沖通貨膨脹，因此較高的通貨膨脹預期將為白銀提供上行空間”，分析師表示。
The comments come as the gold/silver ratio sees a consistent downtrend from last year's historic highs around 125 points. Kitco.com shows that the ratio trading at 69.96, meaning it takes 69 ounces of silver to equal the value of one ounce of gold.
黃金/白銀比率自去年的歷史高點125點以來一直呈下降趨勢，這是上述言論發表之際。 Kitco.com顯示該比率為69.96，這意味著需要69盎司白銀才能等於1盎司黃金的價值。
"Silver has recovered some ground relative to gold in April and is favored to outperform gold if the rally continues," the analysts said.
分析師稱，“相對於黃金，白銀已經在4月恢復了一些跌幅，如果漲勢持續，則白銀將勝過黃金。”
Looking at gold prices, although the precious metal has managed to hold above $1,700 an ounce, the analysts said that it is too soon to tell if the price has entered into a new uptrend. June gold futures last traded at $1,735.20 an ounce, down 0.55% on the day; meanwhile, May silver futures last traded at $24.87 an ounce, down 1.78% on the day.
從金價來看，儘管貴金屬價格已經成功維持在每盎司1,700美元上方，但分析師們表示，現在還無法判斷金價是否已進入新的上升趨勢。 6月黃金期貨最新交易價格為1,735.20美元/盎司，當日下跌0.55％；與此同時，5月白銀期貨最新報每盎司24.87美元，當日下跌1.78％。
By Neils Christensen
Shiny黃金白銀交易所
引用來源: Kitco News
賀立氏貴金屬: “隨著通貨膨脹和經濟回暖，白銀將跑贏黃金”
Neils Christensen
Monday April 12, 2021 12:09
Despite its dismal performance, silver remains the precious metals to watch. It could outperform gold as the global economy sees a robust recovery, according to one precious metals firm.
儘管表現不佳，但白銀仍然是值得關注的貴金屬。 一家貴金屬公司表示，由於全球經濟強勁復甦，它的表現可能優於黃金。
In a report published Monday, analysts at Heraeus Precious Metals said that they expect silver prices to continue to outperform gold through 2021 as it benefits from rising inflation and renewed industrial demand as the global economy bounces back from the COVID-19 pandemic.
賀利氏貴金屬公司（Heraeus Precious Metals）的分析師在周一發布的一份報告中表示，他們預計到2021年白銀價格將繼續跑贏黃金，因為受益於通貨膨脹率上升和工業需求的複蘇，因為全球經濟從COVID-19大流行中反彈。
"Consumption from industrial end-users is forecast to extend to a four-year high of 510 [million ounces] this year, with strong growth from the electrical & electronics and photovoltaic (PV) sectors," the analysts said.
分析師說：“預計今年工業最終用戶的消費量將擴大到510 [百萬盎司]的四年高點，其中電氣和電子及光伏（PV）領域的增長強勁。”
Looking at inflation, the analysts noted that the U.S. five-year breakeven inflation rate around 2.6%, its highest level in a decade. The precious metal refiner noted that short-term inflation has also surpassed long-term expectations.
分析通貨膨脹時，分析師指出，美國五年盈虧平衡的通貨膨脹率約為2.6％，是十年來的最高水平。貴金屬提煉商指出，短期通脹也超過了長期預期。
"Last time the five-year breakeven inflation rate was this high was in 2011 and silver was trading around $48/oz, almost double the current price. With precious metals seen as an efficient hedge against inflation, higher inflation expectations should provide upside for silver," the analysts said.
“上一次五年盈虧平衡的通貨膨脹率是在2011年達到如此高的水平，白銀交易價格約為48美元/盎司，幾乎是當前價格的兩倍。鑑於貴金屬可以有效地對沖通貨膨脹，因此較高的通貨膨脹預期將為白銀提供上行空間”，分析師表示。
The comments come as the gold/silver ratio sees a consistent downtrend from last year's historic highs around 125 points. Kitco.com shows that the ratio trading at 69.96, meaning it takes 69 ounces of silver to equal the value of one ounce of gold.
黃金/白銀比率自去年的歷史高點125點以來一直呈下降趨勢，這是上述言論發表之際。 Kitco.com顯示該比率為69.96，這意味著需要69盎司白銀才能等於1盎司黃金的價值。
"Silver has recovered some ground relative to gold in April and is favored to outperform gold if the rally continues," the analysts said.
分析師稱，“相對於黃金，白銀已經在4月恢復了一些跌幅，如果漲勢持續，則白銀將勝過黃金。”
Looking at gold prices, although the precious metal has managed to hold above $1,700 an ounce, the analysts said that it is too soon to tell if the price has entered into a new uptrend. June gold futures last traded at $1,735.20 an ounce, down 0.55% on the day; meanwhile, May silver futures last traded at $24.87 an ounce, down 1.78% on the day.
從金價來看，儘管貴金屬價格已經成功維持在每盎司1,700美元上方，但分析師們表示，現在還無法判斷金價是否已進入新的上升趨勢。 6月黃金期貨最新交易價格為1,735.20美元/盎司，當日下跌0.55％；與此同時，5月白銀期貨最新報每盎司24.87美元，當日下跌1.78％。
By Neils Christensen
Shiny黃金白銀交易所
引用來源: Kitco News
