{"id":37738,"date":"2025-11-26T16:00:00","date_gmt":"2025-11-26T15:00:00","guid":{"rendered":"https:\/\/www.gnews.cz\/?p=37738"},"modified":"2025-11-28T05:15:45","modified_gmt":"2025-11-28T04:15:45","slug":"globalni-souboj-o-stribro-kriticky-status-mineralu-vyvolava-trojstranny-boj-mezi-vladami-prumyslem-a-investory","status":"publish","type":"post","link":"https:\/\/gnews.cz\/cs_cz\/ekonomika\/globalni-souboj-o-stribro-kriticky-status-mineralu-vyvolava-trojstranny-boj-mezi-vladami-prumyslem-a-investory\/","title":{"rendered":"Glob\u00e1ln\u00ed souboj o st\u0159\u00edbro: Kritick\u00fd status miner\u00e1lu vyvol\u00e1v\u00e1 trojstrann\u00fd boj mezi vl\u00e1dami, pr\u016fmyslem a investory"},"content":{"rendered":"\n

St\u0159\u00edbro pr\u00e1v\u011b p\u0159esko\u010dilo z kategorie \u201edrah\u00e9 kovy\u201c do kategorie \u201ekritick\u00e9 miner\u00e1ly\u201c. Washington jej za\u0159adil na seznam l\u00e1tek d\u016fle\u017eit\u00fdch pro n\u00e1rodn\u00ed bezpe\u010dnost a Peking se chyst\u00e1 omezit jeho v\u00fdvoz, co\u017e vede ke st\u0159etu mezi omezenou nab\u00eddkou a rekordn\u00ed pr\u016fmyslovou popt\u00e1vkou. Zde je d\u016fvod, pro\u010d si b\u011b\u017en\u00ed st\u0159adatel\u00e9 i profesion\u00e1ln\u00ed investo\u0159i nemohou dovolit ignorovat novou \u00e9ru st\u0159\u00edbra.<\/strong><\/p>\n\n\n\n

Po cel\u00e1 desetilet\u00ed bylo st\u0159\u00edbro p\u0159ehl\u00ed\u017een\u00fdm bratrancem zlata, obchodovalo se s n\u00edm hlavn\u011b pro v\u00fdrobu \u0161perk\u016f, sb\u011bratelsk\u00fdch p\u0159edm\u011bt\u016f a drobn\u00fdch investic. Tato \u00e9ra se rychle ch\u00fdl\u00ed ke konci. Spojen\u00e9 st\u00e1ty americk\u00e9<\/strong> ofici\u00e1ln\u011b prohl\u00e1sily st\u0159\u00edbro za \u201ekritick\u00fd miner\u00e1l\u201c<\/strong> \u2013 ozna\u010den\u00ed, kter\u00e9 se obvykle pou\u017e\u00edv\u00e1 pro materi\u00e1ly nezbytn\u00e9 pro obranu, energetiku a high-tech infrastrukturu USGS. Sotva o t\u00fdden pozd\u011bji \u010c\u00edna, nejv\u011bt\u0161\u00ed rafin\u00e9r st\u0159\u00edbra na sv\u011bt\u011b<\/strong>, ozn\u00e1mila, \u017ee od roku 2026<\/strong> bude ka\u017ed\u00e1 v\u00fdvozn\u00ed z\u00e1silka vy\u017eadovat individu\u00e1ln\u00ed v\u00fdvozn\u00ed licenci MOFCOM<\/strong>. Dv\u011b supervelmoci tak v podstat\u011b postavily strategickou bari\u00e9ru kolem stejn\u00e9ho kovu.<\/p>\n\n\n\n

Pro\u010d ta n\u00e1hl\u00e1 nal\u00e9havost? St\u0159\u00edbro je nejvodiv\u011bj\u0161\u00ed prvek na planet\u011b<\/strong>. Je nezbytn\u00e9 pro datov\u011b n\u00e1ro\u010dnou, elektrifikovanou ekonomiku \u2013 od 5G v\u011b\u017e\u00ed a bateri\u00ed elektrick\u00fdch vozidel po sol\u00e1rn\u00ed panely a \u0159\u00edzen\u00e9 st\u0159ely<\/strong>. Tesla, Samsung a Sony ji\u017e ka\u017edoro\u010dn\u011b spot\u0159ebov\u00e1vaj\u00ed miliony unc\u00ed<\/strong>. Americk\u00e1 arm\u00e1da ho pot\u0159ebuje pro st\u00edha\u010dky F-35<\/strong> a inteligentn\u00ed munici<\/strong>. P\u0159esto Amerika dov\u00e1\u017e\u00ed t\u00e9m\u011b\u0159 ve\u0161ker\u00e9 st\u0159\u00edbro, p\u0159ev\u00e1\u017en\u011b z Mexika, Peru a Kanady. Jak\u00e1koli geopolitick\u00e1 komplikace m\u016f\u017ee p\u0159es noc ohrozit v\u00fdrobu v tov\u00e1rn\u00e1ch a obrann\u00e9 kontrakty.<\/p>\n\n\n\n

Z\u00e1soby se mezit\u00edm zmen\u0161uj\u00ed. V minulosti t\u011b\u017eili horn\u00edci st\u0159\u00edbro a zlato v pom\u011bru 16:1<\/strong>. Dnes se podle americk\u00e9 geologick\u00e9 slu\u017eby (U.S. Geological Survey) tento pom\u011br kv\u016fli geologick\u00fdm podm\u00ednk\u00e1m a klesaj\u00edc\u00ed kvalit\u011b rudy p\u0159ibl\u00ed\u017eil pom\u011bru 7:1<\/strong>. Rozpo\u010dty na pr\u016fzkum se po letech um\u011ble n\u00edzk\u00fdch cen zhroutily; mnoho men\u0161\u00edch t\u011b\u017ea\u0159\u016f jednodu\u0161e odlo\u017eilo nov\u00e9 projekty. Uveden\u00ed nov\u00e9ho st\u0159\u00edbrn\u00e9ho dolu od objevu do v\u00fdroby m\u016f\u017ee trvat deset let i d\u00e9le<\/strong>, co\u017e je mnohem pomalej\u0161\u00ed ne\u017e r\u016fstov\u00e1 k\u0159ivka elektrick\u00fdch vozidel nebo sol\u00e1rn\u00ed energie.<\/p>\n\n\n\n

Tyto z\u00e1kladn\u00ed faktory neunikly pozornosti sofistikovan\u00e9ho kapit\u00e1lu. Z\u00e1znamy o futures ukazuj\u00ed, \u017ee v obvykle klidn\u00fdch m\u011bs\u00edc\u00edch \u201ebez dod\u00e1vek\u201c bylo z burzy COMEX <\/strong>najednou sta\u017eeno v\u00edce ne\u017e 15 milion\u016f unc\u00ed. Analytici se domn\u00edvaj\u00ed, \u017ee o dod\u00e1vky \u017e\u00e1daj\u00ed st\u00e1tn\u00ed investi\u010dn\u00ed fondy, hedgeov\u00e9 fondy a pr\u016fmyslov\u00ed koncov\u00ed u\u017eivatel\u00e9, kte\u0159\u00ed ti\u0161e skupuj\u00ed kov, zat\u00edmco ceny z\u016fst\u00e1vaj\u00ed n\u00edzk\u00e9. Na maloobchodn\u00ed \u00farovni se pr\u00e9mie na obl\u00edben\u00e9 jednouncov\u00e9 mince st\u00e1le pohybuj\u00ed v\u00fdrazn\u011b nad spotovou cenou, co\u017e signalizuje p\u0159etrv\u00e1vaj\u00edc\u00ed nedostatek fyzick\u00fdch dod\u00e1vek.<\/p>\n\n\n\n

Investo\u0159i nyn\u00ed \u010del\u00ed radik\u00e1ln\u011b odli\u0161n\u00e9mu trhu se st\u0159\u00edbrem. Cena st\u0159\u00edbra, kter\u00e1 byla d\u0159\u00edve potla\u010dov\u00e1na velk\u00fdmi bankami obchoduj\u00edc\u00edmi s drah\u00fdmi kovy<\/strong> (jen J.P. Morgan zaplatil v roce 2020 920 milion\u016f dolar\u016f za urovn\u00e1n\u00ed obvin\u011bn\u00ed ze spoofingu), m\u00e1 nyn\u00ed neofici\u00e1ln\u00ed spodn\u00ed hranici: vl\u00e1dy ho pot\u0159ebuj\u00ed natolik, \u017ee nemohou dopustit jeho propad. Celkov\u00e9 nadzemn\u00ed z\u00e1soby st\u0159\u00edbra se v\u0161ak odhaduj\u00ed na m\u00e9n\u011b ne\u017e 40 miliard dolar\u016f, co\u017e je m\u00e9n\u011b ne\u017e hodnota technologick\u00fdch akci\u00ed st\u0159edn\u00ed kapitalizace. Relativn\u011b m\u00edrn\u00e1 zm\u011bna alokace penzijn\u00edch fond\u016f, mand\u00e1t\u016f ESG nebo n\u00e1rodn\u00edch z\u00e1sob by mohla zap\u00e1lit rozbu\u0161ku klasick\u00e9ho tlaku na nab\u00eddku a popt\u00e1vku.<\/p>\n\n\n\n

Pro b\u011b\u017en\u00e9 st\u0159adatele nab\u00edz\u00ed st\u0159\u00edbro diverzifikaci, ochranu p\u0159ed inflac\u00ed a st\u00e1le \u010dast\u011bji tak\u00e9 ESG narativ spojen\u00fd s \u010distou energi\u00ed. Pro profesion\u00e1ln\u00ed investory p\u0159edstavuje jedno z m\u00e1la aktiv, kter\u00e9 je sou\u010dasn\u011b spojeno s technologick\u00fdm r\u016fstem, deglobalizac\u00ed a m\u011bnov\u00fdmi turbulencemi. Ozna\u010den\u00ed \u201ekritick\u00fd miner\u00e1l\u201c<\/strong> posunulo st\u0159\u00edbro z okrajov\u00e9 pozice do pozice nepostradateln\u00e9ho<\/strong>; trh teprve za\u010d\u00edn\u00e1 tuto realitu zohled\u0148ovat v cen\u00e1ch.<\/p>\n\n\n\n

A\u0165 u\u017e kupujete hrst minc\u00ed nebo slitky, poselstv\u00ed je stejn\u00e9: sv\u011bt se \u0159ad\u00ed do fronty na stejn\u00e9 vz\u00e1cn\u00e9 unce. Kdy\u017e vl\u00e1dy, pr\u016fmysl a \u201echytr\u00e9 pen\u00edze\u201c spole\u010dn\u011b hon\u00ed mal\u00fd objem akci\u00ed, ceny m\u00e1lokdy z\u016fst\u00e1vaj\u00ed dlouho beze zm\u011bny.<\/p>\n\n\n\n

Nejv\u011bt\u0161\u00ed glob\u00e1ln\u00ed investo\u0159i do st\u0159\u00edbra jsou:<\/p>\n\n\n\n

    \n
  1. iShares Silver Trust (SLV)<\/strong>: Tento fond spravovan\u00fd spole\u010dnost\u00ed BlackRock <\/strong>je jedn\u00edm z nejv\u011bt\u0161\u00edch dr\u017eitel\u016f st\u0159\u00edbra na sv\u011bt\u011b. Investor\u016fm poskytuje expozici v\u016f\u010di cen\u00e1m st\u0159\u00edbra t\u00edm, \u017ee sv\u00e9 akcie fyzicky kryje st\u0159\u00edbrn\u00fdmi slitky. SLV je v\u00fdznamn\u00fdm hr\u00e1\u010dem na trhu se st\u0159\u00edbrem, dr\u017e\u00ed stovky milion\u016f unc\u00ed a m\u00e1 tak velk\u00fd vliv na glob\u00e1ln\u00ed nab\u00eddku st\u0159\u00edbra. <\/li>\n\n\n\n
  2. JP Morgan<\/strong>: Spole\u010dn\u011b s BlackRockem p\u016fsob\u00ed JP Morgan jako spr\u00e1vce velk\u00fdch z\u00e1sob st\u0159\u00edbra. Banka byla zapletena do kontroverz\u00ed souvisej\u00edc\u00edch s manipulac\u00ed trhu se st\u0159\u00edbrem, ale z\u016fst\u00e1v\u00e1 kl\u00ed\u010dov\u00fdm subjektem v oblasti glob\u00e1ln\u00edho skladov\u00e1n\u00ed a investic do st\u0159\u00edbra, zejm\u00e9na d\u00edky sv\u00e9 roli v r\u00e1mci SLV.<\/li>\n\n\n\n
  3. Hedgeov\u00e9 fondy a st\u00e1tn\u00ed investi\u010dn\u00ed fondy<\/strong>: Tyto subjekty \u010dasto zauj\u00edmaj\u00ed v\u00fdznamn\u00e9 pozice ve st\u0159\u00edb\u0159e, a to jak z d\u016fvodu diverzifikace investic, tak jako zaji\u0161t\u011bn\u00ed proti volatilit\u011b trhu. Jsou zb\u011bhl\u00e9 v rozpozn\u00e1v\u00e1n\u00ed trend\u016f v komodit\u00e1ch, na nich\u017e z\u00e1vis\u00ed vl\u00e1dy a pr\u016fmyslov\u00e1 odv\u011btv\u00ed z hlediska technologick\u00e9ho pokroku.<\/li>\n\n\n\n
  4. Vl\u00e1dy a centr\u00e1ln\u00ed banky<\/strong>: A\u010dkoli se tradi\u010dn\u011b zam\u011b\u0159uj\u00ed na zlato, strategick\u00fd z\u00e1jem o st\u0159\u00edbro roste kv\u016fli jeho kl\u00ed\u010dov\u00e9 roli v nov\u00fdch technologi\u00edch a ot\u00e1zk\u00e1ch n\u00e1rodn\u00ed bezpe\u010dnosti. Zem\u011b jako \u010c\u00edna maj\u00ed politiky podporuj\u00edc\u00ed dom\u00e1c\u00ed n\u00e1kup a dr\u017een\u00ed drah\u00fdch kov\u016f, v\u010detn\u011b st\u0159\u00edbra.<\/li>\n<\/ol>\n\n\n\n

    <\/p>\n\n\n\n

    gnews.cz – GH<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    St\u0159\u00edbro pr\u00e1v\u011b p\u0159esko\u010dilo z kategorie \u201edrah\u00e9 kovy\u201c do kategorie \u201ekritick\u00e9 miner\u00e1ly\u201c. Washington jej za\u0159adil na seznam l\u00e1tek d\u016fle\u017eit\u00fdch pro n\u00e1rodn\u00ed bezpe\u010dnost a…<\/p>\n","protected":false},"author":3,"featured_media":37740,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4,3711,2973],"tags":[7821,4321,1423,137,7820,7818,4632,3880,7819,2350,5689,38,41],"class_list":["post-37738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomika","category-english","category-zahranicni","tag-cena-stribra","tag-comex","tag-drahe-kovy","tag-investice","tag-jp-morgan","tag-kriticky-mineral","tag-narodni-bezpecnost","tag-solarni-panely","tag-strategicky-kov","tag-stribro","tag-top2","tag-usa","tag-world"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/posts\/37738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/comments?post=37738"}],"version-history":[{"count":4,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/posts\/37738\/revisions"}],"predecessor-version":[{"id":37744,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/posts\/37738\/revisions\/37744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/media\/37740"}],"wp:attachment":[{"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/media?parent=37738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/categories?post=37738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gnews.cz\/cs_cz\/wp-json\/wp\/v2\/tags?post=37738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}