Precious metals prices frequently hit new highs this week, leading the year-end market. The 26th local time was the first trading day after a traditional US holiday. The precious metals gold, silver, and platinum once again ushered in a sharp rise across the board, once again setting a new historical record. Against the backdrop of the continued weakening of the US dollar, the gold market continued to maintain a strong trend this week, supported by heightened geopolitical risks. Recently, many uncertainties, such as US oil sanctions against Venezuela and the escalation of the country's oil trade blockade, have significantly enhanced the safe-haven appeal of gold. Factors such as the spillover effect of gold's liquidity, weakening dollar, and tight supply also drove the price of precious metals such as platinum and palladium to soar. Platinum futures prices soared to a record high this week, breaking through the $2,400 per ounce mark for the first time, with a weekly increase of more than 22%. Palladium futures rose about 13% to 2023.3 US dollars/ounce, the highest level in more than three years. Liang Haikuan, a non-ferrous and precious metals researcher at Fangzheng Mid-Term Futures, said that in the short term, the conflict over tight global silver inventories cannot be fundamentally resolved, and the market's consensus on this contradiction is constantly being strengthened. The global silver market has been in short supply for 5 consecutive years. The recent rise in platinum and palladium is mainly driven by the restoration of its own valuation. Due to its small size and tight supply side, platinum and palladium prices are more flexible in the short term.

Precious metals prices frequently hit new highs this week, leading the year-end market. The 26th local time was the first trading day after a traditional US holiday. The precious metals gold, silver, and platinum once again ushered in a sharp rise across the board, once again setting a new historical record. Against the backdrop of the continued weakening of the US dollar, the gold market continued to maintain a strong trend this week, supported by heightened geopolitical risks. Recently, many uncertainties, such as US oil sanctions against Venezuela and the escalation of the country's oil trade blockade, have significantly enhanced the safe-haven appeal of gold. Factors such as the spillover effect of gold's liquidity, weakening dollar, and tight supply also drove the price of precious metals such as platinum and palladium to soar. Platinum futures prices soared to a record high this week, breaking through the $2,400 per ounce mark for the first time, with a weekly increase of more than 22%. Palladium futures rose about 13% to 2023.3 US dollars/ounce, the highest level in more than three years. Liang Haikuan, a non-ferrous and precious metals researcher at Fangzheng Mid-Term Futures, said that in the short term, the conflict over tight global silver inventories cannot be fundamentally resolved, and the market's consensus on this contradiction is constantly being strengthened. The global silver market has been in short supply for 5 consecutive years. The recent rise in platinum and palladium is mainly driven by the restoration of its own valuation. Due to its small size and tight supply side, platinum and palladium prices are more flexible in the short term.