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Silver trading, from shares and coins to bars and stocks
Silver rose above $80 per ounce on Monday for the first-time, fueled by a strong industrial and investment market, persistent shortages of supply, its recent designation as "a U.S. Critical Mineral" and a wave momentum-driven purchases. Prices fell 4.2% at 0830 GMT, after a record high of $83.62 was reached earlier in the day. Investors booked profits and a easing of geopolitical tensions reduced demand for safe havens. Spot silver is up more than 160% in the last year, outpacing gold’s rise of over 70%. How does silver trade work? Over the Counter London is the largest marketplace for physical gold and silver, where banks and brokers take orders from customers around the globe to buy and sell. Trading takes place bilaterally between financial institutions (OTC), and investors must have an existing relationship with at least one of them to be able to access the market. The bullion bars that are stored in vaults at large banks like JPMorgan or HSBC, which underpin the market. London vaults will hold 27,187 tons of silver by the end of November 2025. Silver is a precious metal. Futures Silver is also traded on futures markets. Shanghai Futures Exchange, in China, and CME Group COMEX?in New York are the two largest. Futures contracts are agreements in which the seller promises to deliver silver at a future date. They are usually 'traded by a broker. Futures are usually not held for delivery, but instead exchanged for futures with a later date. Both buyers and sellers can speculate on the price of silver without having to move and store metal. Futures also offer the advantage that you don't have to pay the entire amount of silver. Instead, you only need to pay a fraction, called a margin. ETFs (Exchange-Traded Funds) ETFs are traded on stock exchanges like the NYSE, LSE and NASDAQ alongside publicly traded companies. Each share of the fund represents a certain amount of silver in a vault. Apps such as Robinhood allow small investors to trade ETFs with ease. Silver is added to the vault in order to create new shares, bringing the prices back to par. BlackRock's iShares Silver Trust, with 529 million ounces worth $39 billion in current prices, is the largest. BARRES AND COINS Silver bars and coins are also available to smaller investors from retailers all over the world. SILVER MINERS Investors can buy shares of companies that mine for silver. These are also easily traded on platforms such as Robinhood. Silver prices tend to affect the value of these shares, but other factors, such as management, debt, or performance, also influence their value. Reporting by Anmol Chaubey, Bengaluru. Editing by David Goodman
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Nigeria's NNPC targets an industrial boom in the country's North as the gas pipeline nears completion
After briefing President Bola Tinubu on Sunday, the chief executive of Nigeria's State Oil Company said that it was betting on a delayed gas pipeline to ignite an industrial revolution for the north. Bashir Ojulari is the Group CEO of NNPC Ltd. He told reporters the company had completed the welding of the main line for the $2.8 billion Ajaokuta - Kaduna - Kano (AKK), including the crucial River Niger crossing – a feat which has slowed progress for years. This milestone will allow the pipeline to be connected?early in the next year. According to Ojulari, this move "will bring gas in its?full?form? into the northern part Nigeria." Ojulari stated that this isn't just about energy. "It is a matter of industrialisation, i.e., fertiliser plants, gas-based industries, and power generation in Kaduna and Kano. We are expecting to see industrial parks sprout up." AKK, which was first conceived of in 2008, plays a central role in Nigeria's desire to harness its vast reserves of gas for economic growth. The completion of the AKK pipeline could revolutionize northern Nigeria, where a lack in energy infrastructure and chronic power shortages have hindered manufacturing for decades. Ojulari revealed NNPC production targets.?Oil production is expected to increase to 1.8million barrels per day - up from 1.7million this year - in 2026. Gas production will also continue to grow. He credited the structural reforms made under the Petroleum Industry 'Act, which enabled NNPC operate as a profitable company and no longer rely on 'federal allocations. Ojulari stated that President Tinubu reiterated his call for $30 billion of new investments by 2030, and a 2 million barrels a day oil production by 2027. (Reporting and Writing by Ben Ezeamalu, Editing by Lincoln Feast.
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Asian stocks are rising, and precious metals have reached new records due to Fed rate cuts.
On Monday, Asian stocks rose to their highest levels in six weeks, and the dollar was near its lowest level in three months, on the expectation that the Federal Reserve will cut?interest rates in the coming year. This has also led to a strong rally in precious-metals. Silver rose above the $80-per-ounce mark?for a?first time? in volatile trading Monday. Platinum and palladium also fell after reaching all-time-highs. Gold fell 0.45%, but it has broken record highs several times this year. It is now on course to have its largest annual gain since 1979. Charu Chanana is the chief investment strategist for Saxo. She said that precious metals were lifted by a powerful combination of rate-cutting tailwinds as well as hedging geopolitical uncertainty and fiscal uncertainty. "Add to that supply concerns and the movement has become parabolic. But the near-vertical rise in late-year prices, particularly for silver, raises the possibility of increased volatility. The risk near-term is technical, and based on positioning." Chanana stated that the big picture of precious metals is still?positive. This is due to fiscal and geopolitical uncertainty, as well as ongoing demand for diversification. She said that any pullbacks could be viewed as an opportunity for long-term investment to rebuild their exposure. Investors were re-focused on geopolitics after U.S. president Donald Trump met Ukrainian president Volodymyr Zelenskiy. Although no agreement has yet been reached to bring peace to Ukraine, the talks were positive. China's military deployed army, navy, air force and artillery around Taiwan for "Justice Mission 2025", as the island pledged to defend democracy. STOCKS END THE YEAR STRONGLY In the stock market,?MSCI?s broadest Asia-Pacific index was 0.5%?? higher in a strong week to end the year. The majority of Asian markets are up double digits this year, as investors have shrugged off Trump’s tariff salvos in favor of AI. South Korea's Kospi climbed 1.7% to reach a two-month high, bringing its annual surge to 75%. It is on track to achieve its biggest gain since 1999. Japan's Nikkei fell 0.5% but is on track to increase by about 27% for the year. Taiwan stocks also rose 1%, reaching a new record, and are poised to rise 25% annually. As Europe returns from its Christmas and Boxing Day holiday, the buoyant mood is expected to continue. European futures are pointing towards a higher opening. The minutes of the Fed’s last meeting, due Tuesday, will be the focus for investors during the holiday-shortened week. The U.S. Central Bank cut rates this month, and forecast only one more for next year. However, traders have priced at least two additional cuts. FRAIL?YEN FIND SUPPORT On Monday, a summary of slightly hawkish opinions from the Bank of Japan policy meeting held in December was released. The Japanese yen rose 0.2% to reach 156.13 against the U.S. Dollar. The summary showed that many members of the BOJ board felt the need to increase the policy rate. BOJ raised interest rates earlier this month, a move that was well-telegraphed. However, the markets were disappointed by comments made afterwards which suggested that the central bank wasn't in a hurry to raise again. The yen was impacted and traders were worried about intervention after officials in Tokyo issued strong verbal warnings. The dollar has been under pressure due to the prospect of the Fed lowering rates next year. A new Fed chair who may be dovish or willing to lower interest rates is also looming large. The dollar index (which measures the greenback versus six rival currencies) was stable at 98.13. It is on course for a 9.5% decline for the year. This will be its steepest drop since 2017.
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Iron ore prices rise as China promises more 'proactive fiscal policies' in 2026
Iron ore prices rose on Monday, as the top steel-making ingredient's demand was boosted by China's promise to adopt more "proactive fiscal policies" in 2026. The most-traded iron ore contract for May on China's Dalian Commodity Exchange closed morning trade at 800 yuan (114.12 dollars) per metric ton after reaching its highest level at 803 yuan at the start of?the session. As of 0343 GMT, the benchmark January iron ore traded on Singapore Exchange rose 1.32% to $106.05 per ton. The price of iron ore in January hit its highest level since November 27 at $106.3. China's Finance Ministry said on Sunday that fiscal policies would be more proactive next year, and China will boost consumption and actively expand investment in new productive forces. Everbright Futures, a Chinese broker, said that iron ore prices were also supported by "some steelmills resuming production after completing annual smelter maintenance" which meant a greater demand for feedstocks including iron ore. Mysteel, a consultancy, said that "improved?margins due to lower production costs" supported iron ore prices. The easing of concern in the real estate market was also a temporary boost to sentiment. China developer Vanke’s bondholders had approved a proposal by the state-backed company to extend the grace period of repayment for a 3.7 billion yuan loan. Coking coal and coke both rose by 1.13% and 0.611% respectively. The Shanghai Futures Exchange steel benchmarks were mixed. The rebar rose by 1.09% and hot-rolled coils increased by 0.98%. Stainless steel remained unchanged, while wire rod dropped 2.2%. $1 = 7.101 Chinese Yuan (Reporting and editing by Harikrishnan Nair; Amy Lv and Ruth Chai)
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Silver dips after breaking $80/ounce
As investors took profits and geopolitical tensions eased, precious metals fell on Monday. Silver traded lower after breaking $80 an ounce earlier that day, and gold was a little less than record highs. As of 0242 GMT spot gold was down by 0.4% to $4,512.74 an ounce after reaching a record-high of $4,549.71 last Friday. U.S. Gold Futures for February Delivery lost 0.4% per ounce to $4,536.40 Silver spot fell?1.3%, to $78.12 an ounce. It had earlier reached a session high of $83.62. Tim Waterer, KCM Trade's Chief Market Analyst, said that a combination of?profit-taking and apparently productive talks between Trump & Zelensky about a possible peace deal has put gold and?silver in the rear view mirror. Donald Trump, the U.S. president, said that he and Ukrainian president Volodymyr Zelenskiy are "getting closer" to an agreement?to?end?the war in Ukraine. Silver is up 181% in the last year, surpassing gold. This was due to its status as an important U.S. Mineral, shortages of supply, and low stocks amid a rising industrial demand and investment. Bullion is also on a spectacular rally for 2025. It has risen 72% and broken multiple records. The gold price has been boosted by a "cocktail" of factors including the expectation of more U.S. interest rate cuts, geopolitical tensions and central bank demand as they move away from U.S. securities and dollars. Waterer stated that $5,000 was a "viable" target for gold in the coming year, provided the next Federal Reserve Chairman added a more dovish tone to Fed policy. Waterer stated that "rate?cuts, a continued robust industrial appetite and supply?shortages combined with a rise in silver to $100 by 2026" could be the catalyst for this. The traders still expect the U.S. to cut interest rates twice next year. In a low interest rate environment, non-yielding investments tend to perform well. Palladium fell 8%, to $1,771.99 an ounce. Spot platinum dropped 0.4% to $2,441.20 after reaching a record high of $2478.50 the previous day. (Reporting by Ishaan Arora in Bengaluru; Editing by Rashmi Aich and Subhranshu Sahu)
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Copper trades near $13,000 after Christmas in a record-breaking catch-up.
The sharp rally that occurred in Shanghai last week spilled over into a global market that was curtailed by the Christmas holiday. As of 0250 GMT the benchmark three-month copper on the London Metal Exchange had risen 5.86%, to $12,875 a metric ton, after having set a session record of $12960. After briefly touching a record high of 102.660 yuan, the most active copper contract at the Shanghai Futures Exchange surged 3.43%, to 101.480 yuan. The London benchmark copper contracts?is closing with gains made by the Shanghai contract while the London exchange was closed for the Christmas holiday. Shanghai copper rose 5.81% in the last week while London copper gained a gain of 1.93%. The low prices due to the supply shortage led a group of China's leading smelters to decide on Thursday not to provide guidance for copper concentrate processing charges in the first quarter of 2019. Meanwhile, China announced on Friday that it would limit its copper production capacity in the next 5-year plan to support gains in Shanghai copper. The traders who bet on the Fed cutting interest rates by two more times also supported the Monday rally. They are waiting for the minutes of the Fed's December meeting to be released on Tuesday in order to get clues about how the policy makers plan on balancing the risks of both inflation and a weakening labour market. All metals experienced a year-end rally on Monday. Aluminium rose by 0.96% on the London market. Zinc gained 1.33%. Lead advanced 1.15%. Nickel advanced 1.23%. Tin climbed by 2.01%. Aluminium, zinc, lead, nickel, and tin all advanced in the SHFE base metals.
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Investors weigh Middle East tensions as they consider oil gains
Investors weighed Middle East tensions which could disrupt supply and a major obstacle remains in the Russia-Ukraine talks. Brent crude futures were up?56 -cents or 0.92% to $61.20 a barrel at 0236 GMT. U.S. West Texas Intermediate crude rose 51 cents or 0.9% to $57.25. Both benchmark prices dropped more than 2% Friday, as investors considered a global glut of supply and the possibility that a Ukraine peace deal could be reached ahead of weekend discussions between U.S. president Donald Trump and Ukrainian President Volodymyr Zelenskiy. The geopolitical tensions are still high, and Russia and Ukraine continue to strike each other's energy infrastructure. "The Middle East?has?also been unsettling recently, with Saudi Air Strikes in Yemen and Iran claiming?the country was in a?full-scale conflict' with the U.S. Europe and Israel. Yang said that this may be the reason for market concern about possible supply disruptions. U.S. president Donald Trump stated on Sunday that both he and Ukrainian president Volodymyr Zelenskiy are "getting closer, perhaps very close" to a deal to end the conflict in Ukraine. However, both leaders admitted that many of the most difficult details remain unresolved. Both leaders held a press conference together late on Sunday afternoon, after meeting at Trump's Mar-a-Lago Resort in Florida. Trump stated that it would be obvious "in a matter of 'weeks'" if the negotiations to end this war were successful. Tony Sycamore, IG analyst, said that while the peace talks were positive there was still a'significant obstacle' in the form of territorial control for the?Donbas area. WTI will likely trade in a range of $55 to $60, with an eye on the?U.S. Sycamore stated in a report that enforcement actions would be taken against Venezuelan oil exports and the fallout of a U.S. strike on ISIS targets in Nigeria. Nigeria produces approximately 1.5 million barrels / day. Reporting by Sam Li in Beijing and Ryan Woo; Editing by Raju Gopikrishnan, Thomas Derpinghaus
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Asian stocks are rising, and precious metals have reached new records due to Fed rate cuts.
On Monday, Asian stocks reached six-week highs, and the dollar was near its lowest level in nearly three months. This is due to expectations that the Federal Reserve will cut interest rates in the coming year. It has also led to a strong rally in precious materials. Silver, platinum and palladium all fell after reaching record highs. Gold fell by nearly 1%, but it has broken record highs several times this year due to dollar weakness, safe haven demand and bets on rate cuts. Charu Chanana is the chief investment strategist for Saxo. He said that precious metals were boosted this year due to a powerful combination of rate-cutting tailwinds, and hedging geopolitical, fiscal, and economic uncertainty. "Add in supply concerns and the move has become parabolic." Silver's near-vertical rise in late-year also increases the risk of increased volatility. The risk is primarily technical and position-driven in the near-term. The big picture for precious metals, however, still looks structurally favorable with eased rates ahead, fiscal unrest and geopolitical uncertainty, and continuing diversification demand. Chanana stated that any pullbacks could be viewed as "opportunities by long-term investors" to rebuild their exposure. Investors are once again focused on geopolitics after U.S. president Donald Trump stated on Sunday that the United States and Ukraine's Volodymyr Zelenskiy "are getting a lot closer, perhaps very close" to a deal to end Ukraine's war. Stocks have a strong year-end MSCI's broadest Asia-Pacific share index was 0.27% up, reaching its highest level since October 3, in a positive start to the final week of the calendar year. The index is up over 25% in the last year. This was boosted by tech stocks, as AI mania took hold of investors. South Korea's Kospi climbed 1.5% to reach a near two-month high, bringing its annual gains to 74%. This is on track to be its biggest gain since 1999. Japan's Nikkei fell 0.4% while Taiwan stocks rose to a new record high. The minutes of the Fed’s last meeting, due Tuesday, will be the focus for investors during the holiday-shortened week. The U.S. Central Bank cut rates this month, and forecast just one further cut for next year. However, traders have priced at least two additional cuts. Tony Sycamore is a market analyst for IG. He said that markets would be scouring the minutes to gain deeper insight into the debates of the committee on the balance 'of risks and timing future easing. Sycamore stated that the focus will shift to data on the labour market, including non-farm payrolls. If these reports show unambiguous weakness in the labour market, it will increase likelihood of the Fed cutting?rates 25bp during its January FOMC Meeting. FRAIL YEN SUPPORT The Japanese yen rose 0.2% on Monday to 156.13 U.S. dollars after a summary of slightly hawkish opinions from the Bank of Japan policy meeting held in December was released. The summary revealed that many members of the BOJ board felt the need to increase the policy rate. BOJ raised interest rates in a well-telegraphed decision earlier this month, but the markets were disappointed by comments made afterwards which suggested that the central bank wasn't in a hurry to raise again. This weighed down on the yen, and traders were worried about intervention after officials in Tokyo issued strong verbal warnings. The yen is still close to its 10-month low, 157.9 yen per dollar (which it reached in November), and the risk of intervention remains as investors reduce their long Yen positions. The yen is still close to the 10-month low of 157.9 per dollar, which it reached in November. The dollar has been under pressure due to the prospect of the Fed lowering rates next year. A new Fed chair who may be dovish or willing to lower interest rates is also a threat. The dollar index (which measures the greenback versus six rivals) was 0.08% higher at 97.953, and is on course for a 9.7% decline for the year. This will be its steepest drop since 2017.
Copper prices ease from record highs as investors take profit
Prices of copper trimmed gains as the Asian markets closed on Monday. Investors locked in profits after a sharp rise that drove prices to new highs.
As of 0740 GMT the benchmark three-month copper price on the London Metal Exchange had risen 3.27%, to $12,560 a metric ton, after earlier setting a new record at $12,960 per ton.
After briefly reaching an all-time high of 102660 yuan, the most active copper contract at the Shanghai Futures Exchange has retreated below the 100,000 yuan mark, with a 0.76% increase in daytime trading to 98860 yuan ($14,105.33).
Traders said that investors locked in profits when copper prices reached record highs. Others took a 'risk-off' stance.
It was expected that the approaching end of the year, coupled with high prices, would also cool down spot demand and add pressure to the rally.
The London benchmark copper contract, which was closed earlier in the day to the Shanghai contract due to the London exchange's holiday closure, had gained ground on the London contract.
Shanghai copper rose 5.81% in the last week while London copper saw a gain of 1.93%.
China announced on Friday that it will limit its copper capacity expansion in the next five-year plans, which is expected to support the gains in Shanghai copper.
The traders who bet on the Fed cutting interest rates by two more times also supported the Monday rally. They are waiting for the release on Tuesday of the minutes of the Fed's meeting in December to get clues about how the policy makers plan to balance risks associated with inflation and a weakened labour market.
Aluminium rose by?0.49% on the London market. Zinc gained 0.68%. Lead added 0.70%. Nickel dropped 0.13%. Tin rose by 1.60%.
Aluminium rose by 0.83%. Zinc gained 0.54%, lead increased 0.78%. Nickel fell 0.86%. Tin declined 0.99%. $1 = 7.0087 Chinese Yuan Renminbi (Reporting and Editing by China C&E Team, Janane Venkatraman and Ronojoy Mazumdar)
(source: Reuters)