深夜，史诗级暴涨！

Core Viewpoint - Precious metals, including gold, silver, platinum, and palladium, have experienced significant price increases, with gold, silver, and platinum reaching historical highs due to escalating geopolitical tensions, a weakening dollar, and low market liquidity [1][4]. Group 1: Precious Metals Performance - On December 26, precious metals saw a substantial surge, with COMEX gold futures rising by 1.31% to $4,562 per ounce, and spot gold increasing by 1.12% to $4,531.1 per ounce, marking a weekly gain of 3.98% and 4.44% respectively [2]. - COMEX silver futures skyrocketed by 11.15% to $79.68 per ounce, with spot silver up 10.24% to $79.196 per ounce, achieving a weekly increase of 18.06% and 17.87%, and an annual rise of 175% [2]. - Palladium and platinum also saw significant gains, with palladium up 14.24% to $1,923.4 per ounce and platinum up 10.31% to $2,450.91 per ounce, reflecting weekly increases of 12.63% and 24.31% respectively [2]. Group 2: Market Dynamics - Analysts attribute the strength in precious metals to geopolitical tensions, a weakening dollar, and low market liquidity, which amplify price volatility [4]. - Recent geopolitical events include the U.S. blocking oil tankers in Venezuela and airstrikes in Yemen, contributing to increased demand for safe-haven assets like gold and silver [4]. - The silver market is particularly volatile, with speculative trading and supply mismatches following an October "short squeeze" event, leading to a surge in demand for physical silver [5]. Group 3: Supply and Demand Issues - The silver market is facing a significant physical shortage, with traders concerned about the availability of deliverable silver, as much of the global supply remains in New York [5][9]. - The one-year silver swap rate has reached -7.18%, indicating a severe supply shortage in the London silver market, where typically, this rate should be positive due to storage and insurance costs [7][8]. - The disparity between silver futures on the Shanghai Futures Exchange and the New York Mercantile Exchange is prompting a flow of silver from London to Shanghai, highlighting the ongoing physical squeeze in the London market [9].