Beijing

Gold is trading in its tightest technical structure since August 2025, a period that preceded a powerful advance. Market focus is now fixed on the $4,400 level as Chinese demand, central bank accumulation and dollar weakness fuel expectations for a larger move.

COMEX registered silver has climbed as metal is reclassified for delivery, giving Western traders a looser inventory signal. In Shanghai, however, buyers are paying a steep premium, suggesting physical tightness has shifted east rather than vanished.