Gold and silver rose, COMEX gold futures up 0.71%, mining stocks gained.

Gold and Silver Futures Performance

On December 26th, at the close in New York, gold and silver prices both rose. Spot gold increased by 0.67%, reaching $2,634.39 per ounce, with a trading range of $2,618.13 to $2,639.22 during the day. Spot silver slightly climbed by 0.08%, priced at $29.6835 per ounce.

In the futures market, COMEX gold futures rose by 0.71%, reaching $2,654.10 per ounce, with a trading range of $2,634.10 to $2,655.70 for the day. After the U.S. stock market opened at 22:30 Beijing time, gold futures saw a notable surge, indicating increased demand for precious metals.

COMEX silver futures also performed well, closing up 0.45% at $30.410 per ounce. Copper futures recorded a 0.62% increase, priced at $4.1375 per pound, suggesting a resurgence in sentiment for industrial metals.

Market Sentiment and Background Analysis

Market analysts noted that global economic uncertainty and investors’ risk aversion provided support for gold and silver prices. Meanwhile, despite the quiet year-end trading, the precious metals market showed stability, attracting more capital inflows. Additionally, the rise in industrial metals prices reflects investors’ optimistic expectations for a recovery in manufacturing demand.

Market Outlook

Analysts predict that as the market focuses on upcoming economic data and Federal Reserve policy movements, precious metal prices are likely to continue fluctuating upward. In the short term, the gold and silver market may remain stable with upward tendencies, influenced by risk aversion, the U.S. dollar trends, and inflation prospects. For industrial metals, the global economic recovery will be the main driver, with copper prices expected to rise further.

The modest rise in precious metals and the recovery in industrial metals reflect the complex sentiments across different economic sectors, adding new vitality to the year-end market.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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