On November 14, 2025, domestic futures contracts opened with mostly gains in early trading. Dorian LPG (LPG) rose nearly 2%, while PTA, ethylene glycol (EG), PX, styrene (EB), caustic soda, bottle chips, plastics, and soybean meal all climbed over 1%. On the downside, European container shipping futures fell more than 1%, with lithium carbonate, asphalt, Shanghai tin, fuel oil, Shanghai nickel, and low-sulfur fuel oil (LU) dipping nearly 1%.
Recently, gold and silver prices regained momentum after a brief correction, with silver particularly shining on Thursday. Shanghai silver futures hit a record high, while international silver prices also approached previous peaks. This rally stems from a combination of macroeconomic expectations and fundamental factors specific to the commodities.
1. According to Jinrui Futures Research Institute, the primary driver behind precious metals' strong performance is the market's heightened anticipation of an imminent shift in the Federal Reserve's monetary policy. Recent unofficial economic data—such as cooling labor markets and persistently weak consumer confidence—has been widely interpreted as clear signals of slowing U.S. economic vitality. This has reinforced investor expectations that the Fed will soon cut rates to counter potential recession risks.
2. Analysts at Zhongyuan Futures noted that the end of the longest U.S. government shutdown in history has fueled expectations of continued expansionary fiscal policies. Former President Trump's proposal to issue $2,000 "tariff dividend" tax rebates to households earning under $100,000 annually could further stoke inflation expectations.
3. Huishang Futures analysts added that with the U.S. government shutdown resolved, key economic data releases will resume, directly influencing the Fed's rate decision next month. In the short term, gold and silver prices may sustain their rebound. The long-term bullish case for precious metals remains intact, as U.S. monetary policy stays accommodative, potentially exacerbating stagflation risks. Additionally, expanding U.S. government debt could undermine global confidence in the dollar, preserving the value of holding precious metals as a hedge.
(Note: This content is for reference only and does not constitute investment advice.)