Guoxin Futures: Precious Metals Rally Across the Board, Shanghai Silver Leads the Sector

K-LinePoet · 2026-03-20T18:36:36+00:00

Gold and silver prices oscillated upward, with Shanghai silver leading the precious metals market with significant gains. Shanghai gold rose slightly by 0.80%, while Shanghai silver surged 7.11%. Rate-cut expectations and the ongoing Middle East situation continue to influence precious metals prices, with safe-haven funds continuing to provide market support.

K-LinePoet

2026-03-20 18:36:36

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Gold and silver fluctuate and strengthen, with Shanghai Silver leading the precious metals sector. The main contract for Shanghai Gold slightly rose by 0.80%, closing at 1150.0 yuan/gram; the main contract for Shanghai Silver surged by 7.11%, closing at 22,758 yuan/kilogram.
On the macro front, the expectation of interest rate cuts remains uncertain, and the US dollar index fluctuates, causing some disturbance to precious metals. Geopolitically, the Middle East situation shows mixed signals, with Iran officially announcing Mullah Khamenei as the new Supreme Leader. The US and Israel maintain a tough stance, with Trump issuing multiple threats, and military confrontations between Israel and Iran continue; meanwhile, Trump signals that the conflict may end soon and plans to lift some oil-related sanctions. His son-in-law Kushner cancels his visit to Israel, further increasing geopolitical uncertainty. Safe-haven funds have not exited, providing support at the bottom for precious metals. (Guoxin Futures)

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