见证历史！凌晨贵金属全线大涨！发生了什么？

Group 1: Market Performance - Precious metals, including gold, silver, platinum, and palladium, experienced significant price increases, with gold and silver reaching historical highs. COMEX silver futures surged over 11%, while spot silver rose over 10% [1][2] - On December 26, COMEX gold futures increased by 1.31% to $4,562 per ounce, with a weekly gain of 3.98%. Spot gold rose by 1.12% to $4,531.1 per ounce, accumulating a weekly increase of 4.44% [2] - COMEX silver futures skyrocketed by 11.15% to $79.68 per ounce, with a weekly increase of 18.06%. Spot silver surged by 10.24% to $79.196 per ounce, accumulating a weekly gain of 17.87% and a year-to-date increase of 175% [2] Group 2: Market Drivers - The rise in precious metals is attributed to escalating geopolitical tensions, a weakening dollar, and low market liquidity [1][2][3] - Recent geopolitical events include the U.S. blocking all sanctioned oil tankers entering and exiting Venezuela and Nigeria's collaboration with the U.S. on security operations against terrorist targets [2] Group 3: Silver Market Dynamics - Silver's recent performance has been driven by speculative investments and ongoing supply mismatches following an October "short squeeze" event [3] - The global supply of freely tradable silver has largely remained in New York, with traders concerned about potential tariff risks as the U.S. has listed silver as a critical mineral [3] Group 4: Supply Shortages - Experts warn that the physical shortage of silver in the London market has reached extreme levels, with the one-year silver swap rate minus U.S. rates currently at -7.18% [4] - A negative swap rate indicates a physical supply shortage, leading traders to pay premiums for immediate silver access [5] - The significant price disparity between silver futures on the Shanghai Futures Exchange and the New York Commodity Exchange is causing silver to flow from London to Shanghai [5] Group 5: Market Risks - The demand for physical silver delivery is increasing among holders of unallocated silver ownership and delivery tickets, posing a risk of a rapid collapse of the London silver market [6]