China Panics As Thin Year-End Liquidity Supercharges Rally In Precious Metals & Copper

China Panics As Thin Year-End Liquidity Supercharges Rally In Precious Metals & Copper Copper surged to record highs in Shanghai and moved higher in New York. Futures on the London Metal Exchange are closed for the holidays and will reopen next week. The moves higher in overseas copper futures markets are likely driven by thin year-end liquidity, which has amplified a broad melt-up across commodities. Gold, silver and platinum jumped to all-time highs to extend a historic end-of-year rally for precious metals, with support from escalating geopolitical tensions and US dollar weakness . via Bloomberg... Spot gold rose as much as 1.2% to a peak above $4,530 an ounce. Frictions in Venezuela, where the US has blockaded oil tankers and ramped up pressure on the government of Nicolás Maduro, have added to the precious metal’s haven appeal. Washington also launched a military strike against Islamic State in Nigeria in collaboration with the African nation’s government. Spot silver for immediate delivery advanced for a fifth session, climbing as much as 5% to cross $75 an ounce. The white metal’s recent advance has been buoyed by speculative inflows and lingering supply dislocations across major trading hubs following a historic short squeeze in October. Silver’s rally has been even more spectacular than gold’s as Bloomberg reports that vaults in London have drawn sizable inflows since the October squeeze , though much of the world’s readily available silver remains in New York as traders await the outcome of a US Commerce Department probe into whether imports of critical minerals pose a national security risk. The review could pave the way for tariffs or other trade curbs on the metal. “You have a lot of trades or positions on paper: now you need to cover those with physical volume - and there’s not much supply to cover that demand,” said Manav Modi, commodity analyst at Motilal Oswal Financial Services Ltd. “You need to power the paper silver with the actual silver,” he said. On the ground at our Bullion Centre in Singapore as Gold and Silver reach record highs 🔥 - BullionStar (@BullionStar) This is what real demand looks like - Queue out the door, customers stacking, metal moving. pic.twitter.com/gsW1xG7u1a December 26, 2025 Partly for the same reason, platinum has been on a tear in recent weeks - this month alone, it has risen by more than 40%. The metal traded above $2,400 an ounce for the first time since Bloomberg began compiling data in 1987. In addition to strong physical demand, global supply of the metal used in the automotive and jewelry sectors is on course for a third annual deficit this year, due largely to disruptions in major producer South Africa. Meanwhile at The Mint... When government inefficiency is profitable: platinum selling below spot on US Mint website right now - zerohedge (@zerohedge) pic.twitter.com/TXd3X7YWJ3 December 26, 2025 UBS analyst Nana Antiedu commented on the rally in precious metals this morning: Strategist Joni Teves highlights a rally in precious metals, with gold, silver, and...

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