CMOC, one of China’s biggest miners, has expanded its push into precious metals with a $1 billion deal to buy the Brazilian operations of Equinox https://t.co/72sJCScZZv ...

Two of the biggest investment themes of the year so far have been the precious metals boom, with gold and silver soaring, and endless speculation over just how bubbly the AI sector is. Is 2026 heading for more of the same? https://t.co/fhI7ym6wD8 ...

🚨 LATEST: Bloomberg reports that Bitcoin has diverged from the stock market for the first time in a decade, with the S&P 500 up 16% in 2025 while BTC is down 3% amid capital shifting toward precious metals and slowing ETF inflows. ...

Precious Metals Soar, Bitcoin Stalls as Investors Hedge Fed 'Policy Error'► https://t.co/BC0ct5BGKG https://t.co/BC0ct5BGKG ...

The Hecht Commodity Report is one of the most comprehensive commodities reports available today from a top-ranked author in commodities, forex, and precious metals. My weekly report covers the market movements of over 29 different commodities and provides bullish, bearish, and neutral calls, directional trading recommendations, and actionable ideas for traders and investors.Japanese bonds spiked lower on December 1, sending interest rates higher. The bearish trend in Japanese bonds has been intact since the ...

Andrew Hecht is a 35-year Wall Street veteran covering commodities and precious metals. He runs the investing group The Hecht Commodity Report, one of the most comprehensive commodities services available. It covers the market movements of 20 different commodities and provides bullish, bearish and neutral calls; directional trading recommendations, and actionable ideas for traders. Learn more.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, an ...

Core Insights - The article emphasizes the importance of conducting thorough due diligence before making any financial decisions, particularly in the context of investments and trading activities [1] Group 1 - The content includes general news and personal analysis intended for educational and research purposes [1] - It highlights that the information provided is not a recommendation or advice for any financial actions [1] - The article warns that the information may not be accurate or provided in real-time, and prices may be sourced from market makers rather than exchanges [1] Group 2 - The website discusses complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1] - It encourages users to perform their own research and understand the risks involved before investing in any financial instruments [1]

Core Insights - The adoption of ETFs by Registered Investment Advisors (RIAs) continued to grow in the third quarter of 2025, with a notable increase in the number of new funds added to portfolios [1][2] Group 1: ETF Adoption Trends - Almost 59% of RIAs added new ETFs to their portfolios in Q3 2025, an increase from 57.8% in the previous quarter, while only 18.6% reduced their ETF counts [2] - The average number of ETFs held by RIAs rose to 72.7, up from 69.9 in the prior quarter [2] - Advisors added an average of 17.54% more ETFs compared to previous holdings, while withdrawing from an average of 7.74% of funds [3] Group 2: Investment Themes - RIAs increasingly focused on investment themes aligned with secular trends, such as AI, defense technologies, industrial reshoring, and precious metals [4] - There was a noticeable shift towards digital assets, with RIAs expanding their investments from primarily Bitcoin ETFs to include Ethereum funds [4] Group 3: Growth of Ethereum ETFs - iShares' Ethereum ETF (ETHA) and Fidelity's Ethereum ETF (FETH) were the fastest-growing funds among RIAs in Q3 2025, with RIAs invested in ETHA increasing by 112.43% to 376 and those in FETH rising by 85.25% to 113 [5] Group 4: Issuer Dynamics - Fundstrat emerged as the fastest-growing ETF issuer among RIAs, with a 56% increase in RIA subscribers to 170 [6] - Other notable issuers included First Eagle Investments, which saw a 35.7% increase in subscribers, NEOS Investment Management with a 19.52% increase, and CoinShares with a 14.29% increase [6]

Market Trends & Drivers - Precious metals have surged this year, with gold rising about 55% and silver surging about 75% [1] - The rally in precious metals is driven by concerns about the future of the dollar, geopolitical instability, stretched stock market valuations, and expectations for rate cuts by the Fed [2][3] - Silver reached a new all-time high last week and surpassed a decades-old record last month [4] - Silver was trading at a premium in London over New York prices due to an unprecedented drop in inventories [4] - India and China are the largest consumers of silver for industrial use and jewelry [7] Silver's Industrial Applications - Silver has significant industrial uses in electronics, solar panels, and medical devices [5] - Silver is an excellent conductor of electricity and is used in circuit boards, switches, electric vehicles, and batteries [5] - Rising demand and stagnant supply have amplified silver's price rise [6] ETF Performance & Characteristics - iShares Silver Trust (SLV) is the largest silver ETF with 25 billion in assets under management and a 50 basis points expense ratio [8] - abrdn Physical Silver Shares ETF (SIVR) is a cheaper physically backed silver ETF with 37 billion in assets and a 30 basis points expense ratio [9] - Global X Silver Miners ETF (SIL) tracks companies involved in silver mining with 37 billion in assets and a 65 basis points expense ratio [10] - iShares MSCI Global Silver and Metals Miners ETF (SLVP) holds companies involved in silver exploration or metals mining with 585 million in assets and a 39 basis points expense ratio [10] - iShares MSCI Global Silver and Metals Miners ETF (SLVP) is up about 140% year to date, while Global X Silver Miners ETF (SIL) is up about 115% [12]

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - On November 7, concerns about the slowdown of economic growth boosted the precious metal prices, and the continuous increase of China's gold reserves by the central bank supported the gold price. However, due to the Senate Democrats' proposal to extend the AIA subsidy and the Fed officials' cautious attitude towards December interest - rate cuts, the upward momentum of precious metal prices was limited. It is expected that the short - term precious metal prices will maintain a range - bound oscillation, but there is still upward space in the long term. Long - term investors are advised to allocate on dips [3][4]. - In the medium - to - long - term, the Fed is still in an interest - rate cut cycle. Global geopolitical uncertainties, unsustainable US debt, and intensified great - power competition will increase the credit risk of the US dollar. Global central banks' gold purchases continue, so the medium - to - long - term center of gold prices is likely to move up [3][4]. Group 3: Summary by Relevant Catalogs 1. Price Tracking of Domestic and Foreign Gold and Silver (15 - point prices) - On November 7, 2025, compared with November 6, London gold spot rose 0.3% to $4007.42/ounce, London silver spot rose 0.7% to $48.71/ounce, COMEX gold rose 0.2% to $4015.20/ounce, COMEX silver rose 0.6% to $48.51/ounce, AU2512 rose 0.4% to 921.26 yuan/gram, AG2512 rose 0.5% to 11484 yuan/kilogram, AU (T + D) rose 0.3% to 918 yuan/gram, and AG (T + D) rose 0.6% to 11481 yuan/kilogram [3][4]. 2. Spread/Ratio Price Tracking (15 - point prices) - On November 7, 2025, compared with November 6, the spread of gold TD - SHFE active price changed by 41.7%, the spread of silver TD - SHFE active price changed by - 84.2%, the spread of gold domestic - foreign (TD - London) changed by 7.9%, the spread of silver domestic - foreign (TD - London) changed by 1.3%, the SHFE gold - silver main ratio changed by - 0.1%, the COMEX gold - silver main ratio changed by - 0.4%, AU2602 - 2512 changed by 7.6%, and AG2602 - 2512 changed by - 8.0% [3][4]. 3. Position Data - On November 7, 2025, compared with November 6, the gold ETF - SPDR was 1042.06 tons with a 0.16% increase, the silver ETF - SLV was 15088.6327 tons with a - 0.17% decrease. COMEX gold non - commercial long positions increased 1.85%, non - commercial short positions increased 9.43%, non - commercial net long positions increased 0.13%. COMEX silver non - commercial long positions increased 0.97%, non - commercial short positions decreased 0.21%, non - commercial net long positions increased 1.43% [3][4]. 4. Inventory Data - On November 7, 2025, compared with November 6, SHFE gold inventory increased 2.05% to 89616 kilograms, SHFE silver inventory decreased 2.64% to 623052 kilograms. COMEX gold inventory decreased 0.31% to 37729455 troy ounces, COMEX silver inventory decreased 0.28% to 480115942 troy ounces [3][4]. 5. Interest Rate/Exchange Rate/Stock Market - On November 7, 2025, compared with November 6, the US dollar/Chinese yuan central parity rate decreased - 0.04% to 7.08, the US dollar index decreased - 0.15% to 99.55, the 2 - year US Treasury yield decreased - 0.56% to 3.55%, the 10 - year US Treasury yield remained unchanged at 4.11%, the VIX decreased - 2.15% to 19.08, the S&P 500 increased 0.13% to 6728.80, and NYMEX crude oil increased 0.52% to 59.84 [3][4].