Overview
- Gold rose as much as about 1.9% and silver up to roughly 4% on Friday before easing during U.S. hours, extending gains after their strongest year since 1979.
- Bloomberg and TD Securities warn the Bloomberg Commodities Index reset could force sales of more than $5 billion in silver futures and roughly $6 billion in gold next week, with thin liquidity heightening volatility.
- Late-December turbulence followed CME margin hikes that drove a roughly 10% slide in silver futures, highlighting market-structure fragility after record runs.
- China’s new curbs on silver exports took effect on January 1, a move traders say may tighten physical supply and influence near-term pricing.
- Local markets mirrored the swings: Indian prices firmed on MCX and in retail hubs, while Pakistan’s per‑tola gold rebounded by Rs 5,700 after a prior drop tied to global moves.