CHI SILVER GP (00815) surged more than 4%, with gains narrowing to 2.94% by the time of writing, trading at HK$0.7 and recording a turnover of HK$5.3009 million.

In early trading today, spot silver climbed above $65 per ounce, surpassing its previous record high and marking one of the strongest rebounds among commodities in 2025. Global surveys indicate that the silver market has faced a structural shortage for the fifth consecutive year, driven by constrained mining output alongside expanding industrial demand from renewable energy, electronics, and other sectors.

Guoxin Futures analysts noted that rapid growth in industries like new energy and electronics manufacturing has broadened silver's industrial applications, intensifying concerns over supply-demand imbalances and attracting long-term investment. Everbright Futures suggested caution ahead of the upcoming non-farm payroll data release, which may influence the Federal Reserve's monetary policy. Despite expectations of a gold-silver ratio correction, silver's relentless rally hints at potential short squeezes, warranting close monitoring of market developments.

CICC highlighted that 2025's volatile global trade environment has disrupted macroeconomic stability, boosting gold and silver prices due to their safe-haven appeal. Unlike previous years, this year's precious metals rally has been led by cyclical buying—particularly from U.S. and European ETFs—with silver outperforming gold.