An important trend regarding the historical price trends of silver vs gold and Bitcoin, their statistics, and a latent reality at the present moment

A few days ago, I looked at the white silver market, and the year-to-date increase has already exceeded 120%, which is indeed quite impressive.
Deutsche Bank recently expressed their views, noting that spot silver hit a record high last Friday. It’s worth noting that the gold-silver ratio once fell below 67, the lowest since June 2021, approaching the 50-year average level.
From the supply side, the situation is quite clear—global exchange silver inventories have fallen to their lowest levels in nearly ten years, and ETF holdings are also increasing. According to Bloomberg data, silver ETFs have added 1,145 tons over the past month. This inventory pressure has indeed driven prices higher.
In the short term, silver’s gains are already quite substantial, and caution is needed regarding the risk of a pullback. But from a long-term fundamental perspective, the situation is actually more worth paying attention to. The World Silver Survey’s demand report indicates that in the coming years, demand for silver in photovoltaic, electric vehicles, data centers, and artificial intelligence will grow significantly. This means the demand-side driving force is still accumulating.
So, the current situation is: there is a bubble risk in the short term, but long-term demand support remains solid. For friends who are paying attention to silver trends and precious metal allocations, this is a moment that requires balanced judgment.