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LATEST

Aug 11, 2026

THE GOLD PRIMER: GOLD IS INSURANCE. SILVER IS A WAGER.

Gold is what a central bank holds when it no longer trusts a currency. Silver is what a trader holds when they no longer trust their own patience.

#gold#silver

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MACROPRO

Oct 22, 2025

Ztrader｜银与铝：下一波交易主线的底层逻辑

摘要（Executive Summary）白银：过去四年连续供给缺口，2025年预计再现显著赤字；工业需求（尤其光伏与功率电子）创历史高位，库存显性与隐性持续抽水，价格弹性高于黄金，具备“ 工业+货币 ”双重β。

#silver#metal#aluminum

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MACROPRO

Oct 14, 2025

为何说黄金/现货危机一触即发？

引言：为何说“黄金/白银现货危机”不是危言耸听在贵金属市场里，价格、持仓、交割与实物库存四条轨道原本是协同的，但近年来这四轨开始“错位”。特别在 COMEX（纽约期货/交割市场）与 LBMA（伦敦 OTC / 现货/清算市场）之间，价格、交割、库存、实物的背离越来越明显。部分市场声音认为这背后有结构扭曲、有“纸金 / 纸银骗局”的成分。

#gold#silver#trading

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