{"id":612776,"date":"2026-01-02T22:35:14","date_gmt":"2026-01-03T06:35:14","guid":{"rendered":"https:\/\/nai500.com\/?p=612776"},"modified":"2026-01-02T22:35:14","modified_gmt":"2026-01-03T06:35:14","slug":"2025%e5%b9%b4-%e7%99%bd%e9%8a%80-%e5%b8%82%e5%a0%b4-%e5%b9%be%e4%bb%b6-%e5%a4%a7%e4%ba%8b-%e6%84%8f%e7%be%a9-%e6%b7%b1%e9%81%a0","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/01\/2025%e5%b9%b4-%e7%99%bd%e9%8a%80-%e5%b8%82%e5%a0%b4-%e5%b9%be%e4%bb%b6-%e5%a4%a7%e4%ba%8b-%e6%84%8f%e7%be%a9-%e6%b7%b1%e9%81%a0\/","title":{"rendered":"2025\u5e74\uff0c\u767d\u9280\u5e02\u5834\u767c\u751f\u7684\u9019\u5e7e\u4ef6\u5927\u4e8b\u610f\u7fa9\u6df1\u9060"},"content":{"rendered":"<p>\u7576\u767d\u9280\u50f9\u683c\u57282025\u5e74\u7a81\u7834\u9577\u671f\u963b\u529b\u4f4d\uff0c\u5275\u4e0b\u5341\u5e74\u4f86\u6700\u986f\u8457\u7684\u4e0a\u6f32\u884c\u60c5\u6642\uff0c\u9019\u7a2e\u517c\u5177\u5de5\u696d\u8207\u91d1\u878d\u96d9\u91cd\u5c6c\u6027\u7684\u91d1\u5c6c\u6301\u7e8c\u6210\u70ba\u5e02\u5834\u7126\u9ede\u3002\u622a\u6b622025\u5e74\u6536\u5b98\uff0c\u767d\u9280\u5168\u5e74\u6f32\u5e45\u8d85\u904e142%\uff0c\u50f9\u683c\u4e00\u5ea6\u7a81\u7834\u6bcf\u76ce\u53f880\u7f8e\u5143\uff0c\u767d\u9280\u4e0d\u50c5\u91cd\u65b0\u78ba\u7acb\u4e86\u5176\u4f5c\u70ba\u5de5\u696d\u539f\u6750\u6599\u7684\u95dc\u9375\u5730\u4f4d\uff0c\u66f4\u4ee5\u91d1\u878d\u8cc7\u7522\u7684\u8eab\u4efd\u7372\u5f97\u4e86\u524d\u6240\u672a\u6709\u7684\u95dc\u6ce8\u3002<\/p>\n<p>\u5f9e\u6563\u6236\u6295\u8cc7\u8005\u7684\u96c6\u9ad4\u884c\u52d5\u5230\u5dde\u4e00\u7d1a\u7684\u7acb\u6cd5\u7a81\u7834\uff0c\u5f9e\u7926\u696d\u516c\u53f8\u7684\u5275\u7d00\u9304\u76c8\u5229\u5230\u7522\u696d\u5167\u7684\u91cd\u5927\u4e26\u8cfc\uff0c\u767d\u9280\u5e02\u5834\u57282025\u5e74\u4e0a\u6f14\u4e86\u4e00\u5e55\u5e55\u7cbe\u5f69\u7d1b\u5448\u7684\u884c\u696d\u5927\u6232\u3002<\/p>\n<p><strong><b>\u6563\u6236\u7684\u5450\u558a\uff1a\u767d\u9280<\/b><\/strong><strong><b>\u903c\u7a7a<\/b><\/strong><strong><b>2.0\u904b\u52d5<\/b><\/strong><\/p>\n<p>2025\u5e743\u6708\uff0c\u767d\u9280\u5e02\u5834\u8fce\u4f86\u4e86\u4e00\u5834\u9817\u5177\u6232\u5287\u6027\u7684\u6230\u722d\u3002\u5728\u793e\u4ea4\u5a92\u9ad4\u4e0a\uff0c\u6563\u6236\u6295\u8cc7\u8005\u767c\u8d77\u4e86\u88ab\u7a31\u70ba\u201c\u767d\u9280\u903c\u7a7a2.0\u201d\u7684\u904b\u52d5\uff0c\u547c\u7c72\u96c6\u4e2d\u8cfc\u8cb7\u5be6\u7269\u767d\u9280\uff0c\u6311\u6230\u5c0d\u5927\u578b\u91d1\u878d\u6a5f\u69cb\u64cd\u7e31\u9280\u50f9\u7684\u8a8d\u77e5\u3002\u9019\u4e00\u904b\u52d5\u7684\u8d77\u6e90\u53ef\u4ee5\u8ffd\u6eaf\u5230\u5206\u6790\u5e2bJesse Colombo\u5728X\u5e73\u81fa\u4e0a\u7684\u547c\u7c72\u3002\u4ed6\u8072\u7a31\uff0c\u6469\u6839\u5927\u901a\u548c\u745e\u9280\u7b49\u5927\u578b\u9280\u884c\u901a\u904e\u201c\u88f8\u8ce3\u7a7a\u201d\u624b\u6bb5\u4eba\u70ba\u58d3\u5236\u767d\u9280\u50f9\u683c\uff0c\u800c\u6563\u6236\u7684\u96c6\u9ad4\u884c\u52d5\u53ef\u80fd\u6253\u7834\u9019\u7a2e\u63a7\u5236\u3002<\/p>\n<p>Colombo\u6307\u51fa\uff0c\u4e3b\u8981\u9280\u884c\u6301\u6709\u7684\u6de8\u7a7a\u982d\u982d\u5bf8\u76f8\u7576\u65bc\u7d042.23\u5104\u76ce\u53f8\u767d\u9280\uff0c\u9019\u610f\u5473\u8457\u9280\u50f9\u6bcf\u4e0a\u6f321\u7f8e\u5143\uff0c\u9019\u4e9b\u982d\u5bf8\u5c31\u53ef\u80fd\u9762\u81e82.23\u5104\u7f8e\u5143\u7684\u640d\u5931\u3002\u7136\u800c\uff0c\u8cc7\u6df1\u6295\u8cc7\u8005\u5c0d\u6b64\u6301\u61f7\u7591\u614b\u5ea6\u3002\u300a\u6469\u6839\u5831\u544a\u300b\u51fa\u7248\u4eba\u5927\u885b\u00b7\u6469\u6839\u76f4\u8a00\uff1a\u201c\u8aaa\u5be6\u8a71\uff0c\u6211\u4e0d\u8a8d\u70ba\u9019\u6b21\u6703\u6709\u592a\u5927\u5f71\u97ff\u3002\u201d\u4ed6\u6307\u51fa\uff0c\u82072021\u5e74\u7684\u7b2c\u4e00\u6b21\u903c\u7a7a\u904b\u52d5\u4e0d\u540c\uff0c\u7576\u524d\u96f6\u552e\u9700\u6c42\u5df2\u7d93\u6e1b\u5f31\uff0c\u800c\u4e14\u7576\u6642\u7279\u6b8a\u7684\u5e02\u5834\u74b0\u5883\u5df2\u7d93\u4e0d\u8907\u5b58\u5728\u3002<\/p>\n<h2><strong><b>\u7acb\u6cd5\u7684\u7a81\u7834\uff1a\u5bc6\u8607\u88cf\u5dde\u627f\u8a8d\u91d1\u9280\u70ba\u6cd5\u5b9a\u8ca8\u5e63<\/b><\/strong><\/h2>\n<p>2025\u5e745\u6708\uff0c\u767d\u9280\u7684\u91d1\u878d\u5c6c\u6027\u5728\u7f8e\u570b\u5bc6\u8607\u88cf\u5dde\u7372\u5f97\u4e86\u6cd5\u5f8b\u4e0a\u7684\u8a8d\u53ef\u3002\u8a72\u5dde\u8b70\u6703\u901a\u904e\u4e86\u4e00\u9805\u7531\u5171\u548c\u9ee8\u652f\u6301\u7684\u4fee\u6b63\u6848\uff0c\u6b63\u5f0f\u627f\u8a8d\u9ec3\u91d1\u548c\u767d\u9280\u70ba\u6cd5\u5b9a\u8ca8\u5e63\u3002\u6839\u64da\u9019\u9805\u7acb\u6cd5\uff0c\u5dde\u653f\u5e9c\u5be6\u9ad4\u5fc5\u9808\u63a5\u53d7\u4ee5\u96fb\u5b50\u5f62\u5f0f\u7684\u9ec3\u91d1\u548c\u767d\u9280\u652f\u4ed8\u516c\u5171\u50b5\u52d9\uff0c\u5305\u62ec\u7a05\u6b3e\u3002\u79c1\u71df\u4f01\u696d\u96d6\u4e0d\u88ab\u5f37\u5236\u8981\u6c42\uff0c\u4f46\u53ef\u4ee5\u9078\u64c7\u63a5\u53d7\u9019\u4e9b\u8cb4\u91d1\u5c6c\u4f5c\u70ba\u652f\u4ed8\u624b\u6bb5\u3002<\/p>\n<p>\u652f\u6301\u8005\u8a8d\u70ba\uff0c\u9019\u4e00\u8209\u63aa\u662f\u5c0d\u6297\u901a\u8ca8\u81a8\u8139\u548c\u806f\u90a6\u4e0d\u8ca0\u8cac\u4efb\u7684\u8ca8\u5e63\u653f\u7b56\u7684\u4e00\u7a2e\u5c0d\u6c96\u3002\u6279\u8a55\u8005\u5247\u5c0d\u5be6\u969b\u64cd\u4f5c\u7684\u53ef\u884c\u6027\u63d0\u51fa\u8cea\u7591\u2014\u2014\u5982\u4f55\u5be6\u6642\u78ba\u5b9a\u91d1\u9280\u50f9\u683c\uff1f\u5982\u4f55\u8655\u7406\u50f9\u683c\u6ce2\u52d5\u5e36\u4f86\u7684\u7d50\u7b97\u96e3\u984c\uff1f\u5bc6\u8607\u88cf\u5dde\u7684\u9019\u4e00\u7acb\u6cd5\u5617\u8a66\uff0c\u6298\u5c04\u51fa\u7f8e\u570b\u793e\u6703\u5c0d\u73fe\u884c\u8ca8\u5e63\u9ad4\u7cfb\u65e5\u76ca\u589e\u9577\u7684\u4e0d\u4fe1\u4efb\u611f\uff0c\u4e5f\u70ba\u8cb4\u91d1\u5c6c\u5728\u5730\u65b9\u5c64\u9762\u7684\u91d1\u878d\u5316\u63a2\u7d22\u958b\u8f9f\u4e86\u5148\u6cb3\u3002<\/p>\n<h2><strong><b>\u884c\u696d\u7684\u8c50\u6536\uff1a\u7926\u696d\u516c\u53f8\u5275\u7d00\u9304\u7684\u5b63\u5ea6\u76c8\u5229<\/b><\/strong><\/h2>\n<p>\u96a8\u8457\u767d\u9280\u50f9\u683c\u57282025\u5e74\u5e74\u4e2d\u7a81\u7834\u6bcf\u76ce\u53f835\u7f8e\u5143\u5927\u95dc\uff0c\u5168\u7403\u767d\u9280\u7926\u696d\u516c\u53f8\u8fce\u4f86\u4e86\u8c50\u6536\u7684\u5b63\u7bc0\u3002\u7b2c\u4e8c\u5b63\u5ea6\u8ca1\u5831\u986f\u793a\uff0c\u591a\u5bb6\u7926\u696d\u516c\u53f8\u5be6\u73fe\u4e86\u5275\u7d00\u9304\u6216\u63a5\u8fd1\u7d00\u9304\u7684\u76c8\u5229\u6c34\u5e73\u3002<a href=\"https:\/\/nai500.com\/zh-hant\/%E8%82%A1%E7%A5%A8%E6%9F%A5%E8%A9%A2\/?qm_symbol=PAAS%3ACA\">Pan American Silver (TSX:PAAS)<\/a>\u5831\u544a\u671f\u5167\u5be6\u73fe\u4e861.896\u5104\u7f8e\u5143\u7684\u5275\u7d00\u9304\u6de8\u5229\u6f64\uff1b<a href=\"https:\/\/nai500.com\/zh-hant\/%E8%82%A1%E7%A5%A8%E6%9F%A5%E8%A9%A2\/?qm_symbol=AG%3ACA\">First Majestic Silver (TSX:AG,NYSE:AG)<\/a>\u5247\u767c\u5e03\u4e86\u8fc4\u4eca\u70ba\u6b62\u6700\u5f37\u52c1\u7684\u5b63\u5ea6\u696d\u7e3e\uff0c\u71df\u6536\u540c\u6bd4\u8fd1\u4e4e\u7ffb\u500d\u3002<\/p>\n<p>\u5373\u4fbf\u662f\u9762\u81e8\u751f\u7522\u6311\u6230\u7684Fresnillo, \u4e5f\u53d7\u76ca\u65bc\u9ec3\u91d1\u7522\u91cf\u548c\u50f9\u683c\u8d70\u5f37\uff0c\u5be6\u73fe\u4e86\u71df\u6536\u589e\u9577\u3002\u9019\u4e00\u8f2a\u76c8\u5229\u6f6e\u4e0d\u50c5\u6539\u5584\u4e86\u7926\u696d\u516c\u53f8\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\uff0c\u4e5f\u70ba\u672a\u4f86\u7684\u52d8\u63a2\u548c\u958b\u767c\u9805\u76ee\u63d0\u4f9b\u4e86\u8cc7\u91d1\u652f\u6301\uff0c\u5f62\u6210\u4e86\u884c\u696d\u767c\u5c55\u7684\u826f\u6027\u5faa\u74b0\u3002<\/p>\n<h2><strong><b>\u7522\u696d\u6574\u5408\uff1a21\u5104\u7f8e\u5143\u4e26\u8cfc\u6848\u7684\u884c\u696d\u610f\u7fa9<\/b><\/strong><\/h2>\n<p>2025\u5e748\u6708\uff0cPan American Silver\u7372\u5f97\u4e86\u58a8\u897f\u54e5\u806f\u90a6\u7d93\u6fdf\u7af6\u722d\u59d4\u54e1\u6703\u5c0d\u5176\u4ee521\u5104\u7f8e\u5143\u6536\u8cfcMAG\u00a0Silver\u7684\u6700\u7d42\u6279\u51c6\uff0c\u6a19\u5fd7\u8457\u767d\u9280\u7522\u696d\u6574\u5408\u9081\u51fa\u4e86\u91cd\u8981\u4e00\u6b65\u3002\u9019\u7b46\u4ea4\u6613\u65bc9\u6708\u521d\u5b8c\u6210\uff0c\u5c07Pan American Silver\u8207\u4e16\u754c\u54c1\u4f4d\u6700\u9ad8\u7684\u539f\u751f\u767d\u9280\u8cc7\u7522\u4e4b\u4e00\u2014\u2014Juanicipio\u9805\u76ee\u76f8\u7d50\u5408\u3002\u6839\u64da\u4ea4\u6613\u689d\u6b3e\uff0cMAG\u80a1\u6771\u53ef\u4ee5\u9078\u64c7\u7372\u5f97\u73fe\u91d1\u6216Pan American\u7684\u80a1\u7968\uff0c\u5728\u5b8c\u5168\u7a00\u91cb\u57fa\u790e\u4e0a\u6301\u6709\u5408\u4e26\u5f8c\u516c\u53f8\u7d0414%\u7684\u80a1\u4efd\u3002<\/p>\n<p>Pan American Silver\u9996\u5e2d\u57f7\u884c\u5b98\u9081\u514b\u723e\u00b7\u65af\u5766\u66fc\u8868\u793a\uff1a\u201c\u9019\u4e00\u6230\u7565\u6536\u8cfc\u9032\u4e00\u6b65\u978f\u56fa\u4e86Pan American Siver\u4f5c\u70ba\u7f8e\u6d32\u9818\u5148\u767d\u9280\u751f\u7522\u5546\u7684\u5730\u4f4d\u3002\u201d\u4ed6\u88dc\u5145\u9053\uff0cJuanicipio\u9805\u76ee\u201c\u5c07\u986f\u8457\u589e\u52a0Pan American Silver\u5c0d\u9ad8\u5229\u6f64\u767d\u9280\u7684\u655e\u53e3\u201d\uff0c\u540c\u6642\u901a\u904eMAG\u5728\u7336\u4ed6\u5dde\u548c\u5b89\u5927\u7565\u7701\u7684\u52d8\u63a2\u8cc7\u7522\u63d0\u4f9b\u9577\u671f\u589e\u9577\u6f5b\u529b\u3002<\/p>\n<p>\u7e3d\u800c\u8a00\u4e4b\uff0c2025\u5e74\u7684\u767d\u9280\u5e02\u5834\uff0c\u5728\u50f9\u683c\u98c6\u5347\u7684\u8868\u8c61\u4e4b\u4e0b\uff0c\u767c\u751f\u4e86\u6df1\u523b\u7684\u7d50\u69cb\u6027\u8b8a\u5316\u3002\u6563\u6236\u6295\u8cc7\u8005\u5617\u8a66\u901a\u904e\u96c6\u9ad4\u884c\u52d5\u722d\u53d6\u5b9a\u50f9\u8a71\u8a9e\u6b0a\uff0c\u5730\u65b9\u653f\u5e9c\u63a2\u7d22\u8cb4\u91d1\u5c6c\u7684\u8ca8\u5e63\u5316\u8def\u5f91\uff0c\u7926\u696d\u516c\u53f8\u4eab\u53d7\u50f9\u683c\u7d05\u5229\u7684\u540c\u6642\u5f37\u5316\u7522\u696d\u6574\u5408\u3002\u9019\u4e9b\u4e8b\u4ef6\u5171\u540c\u63cf\u7e6a\u4e86\u4e00\u5e45\u767d\u9280\u5e02\u5834\u591a\u7dad\u767c\u5c55\u7684\u5168\u666f\u5716\uff1a\u5b83\u65e2\u662f\u91d1\u878d\u5e02\u5834\u60c5\u7dd2\u7684\u6674\u96e8\u8868\uff0c\u4e5f\u662f\u7522\u696d\u767c\u5c55\u7684\u6eab\u5ea6\u8a08\u3002\u96a8\u8457\u767d\u9280\u5728\u6e05\u6f54\u80fd\u6e90\u8f49\u578b\u4e2d\u7684\u5de5\u696d\u9700\u6c42\u6301\u7e8c\u589e\u9577\uff0c\u4ee5\u53ca\u5168\u7403\u5c0d\u66ff\u4ee3\u8ca8\u5e63\u9ad4\u7cfb\u7684\u63a2\u7d22\u4e0d\u65b7\u6df1\u5165\uff0c2025\u5e74\u7684\u9019\u4e9b\u8da8\u52e2\u5f88\u53ef\u80fd\u57282026\u5e74\u4e43\u81f3\u66f4\u9060\u7684\u672a\u4f86\u7e7c\u7e8c\u6f14\u5316\uff0c\u5851\u9020\u767d\u9280\u4f5c\u70ba\u4e00\u7a2e\u7279\u6b8a\u8cc7\u7522\u985e\u5225\u7684\u5168\u65b0\u89d2\u8272\u5b9a\u4f4d\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7576\u767d\u9280\u50f9\u683c\u57282025\u5e74\u7a81\u7834\u9577\u671f\u963b\u529b\u4f4d\uff0c\u5275\u4e0b\u5341\u5e74\u4f86\u6700\u986f\u8457\u7684\u4e0a\u6f32\u884c\u60c5\u6642\uff0c\u9019\u7a2e\u517c\u5177\u5de5\u696d\u8207\u91d1\u878d\u96d9\u91cd\u5c6c\u6027\u7684\u91d1\u5c6c\u6301\u7e8c\u6210\u70ba\u5e02 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