白银ETF-iShares（SLV）今日盘中大跌5%，引起了市场的广泛关注。
消息面上，多家国有大行宣布自今日收盘清算时起，将代理个人客户黄金、白银延期合约的保证金比例从100%上调至120%。此举大幅提高了交易者的资金占用成本，压缩了交易杠杆，可能引发部分持仓者被动平仓或减少新开仓，从而对白银价格形成直接压力。
与此同时，德国商业银行发布报告，将2026年底白银价格预测下调至80美元/盎司，并指出白银工业需求连续第二年下降，降至四年低点，这为白银市场带来了负面基本面预期。此外，美伊谈判陷入僵局，推高了油价和通胀预期，市场担忧美联储可能因此更久维持高利率，提高了持有白银这类无息资产的机会成本，进一步压制了银价。
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