Silver Surges 7.07% as Peru's Energy Crisis Threatens Global Supply

Yesterday, the Federal Reserve kept interest rates unchanged at its rate decision meeting. However, market participants believe that remarks made during the press conference suggest a high probability of one rate hike in December to rein in inflation. Drawing on the historical pattern whereby precious metals tend to price in rate hike expectations in advance, near-term pressure on precious metals is anticipated. Market participants also note that a US–Iran agreement could potentially be signed within the next few days. That said, given that precious metals already showed fading upward momentum in the first half of this week, the market impact of geopolitical developments may now be increasingly limited.

[SMM Precious Metal Express] Singapore Exchange announced it will establish an OTC gold clearing system and plans to launch central bank vault custody services by October, accelerating global gold market infrastructure development. This move is expected to enhance Singapore's position as an international gold trading hub, providing more comprehensive clearing and custody infrastructure for the precious metals market.