Switzerland's MKS PAMP, one of the world's largest refiners and traders of precious metals, has joined a growing number of European companies that are expanding operations in Hong Kong, drawn by the city's strengthened focus on its financial services and commodity trading sectors. The Geneva-based firm - locally known for minting the centenary gold bars for Bank of China (Hong Kong) in 2017 - on Thursday opened its 3,600 sq ft regional headquarters at the St John's Building on Garden Road in Admiralty, a m ...

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 does not constitute any recommendation or advice for investment 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] - The article states that FX Empire does not endorse any third-party services and is not liable for any losses incurred from using the information provided [1]

Core Viewpoint - The high leverage in the precious metals investment market acts as a double-edged sword, amplifying both potential returns and risks, with some platforms orchestrating elaborate scams targeting investors' desire for high returns [1] Group 1: Characteristics of Scam Platforms - Scam platforms often lure investors with promises of high leverage, low entry barriers, and expert guidance, while creating a facade of legitimacy through fake regulatory licenses and professional-looking trading software [1] - The core of the scam lies in the "gambling model," where the platform profits when investors lose, creating a fundamental conflict of interest [1] Group 2: Common Tactics Used by Scam Platforms - Manipulating quotes by intentionally widening spreads at critical price points or creating abnormal price fluctuations [5] - Delaying order execution during volatile market conditions to execute trades at less favorable prices [5] - Creating "system failures" to prevent investors from closing profitable positions [5] - Delaying or refusing withdrawal requests under various pretexts [5] Group 3: Identifying Scam Platforms - Investors should remember that precious metals investments carry high risk, and choosing a strictly regulated platform is the first line of defense for safeguarding funds [4] - Conduct thorough due diligence before investing, avoiding being swayed by promises of high returns [4] - Verify regulatory credentials through authoritative bodies like the UK's FCA, the US's NFA, and Australia's ASIC [5] - Test the withdrawal process with a small amount before making larger deposits to ensure liquidity [5] - Be cautious of any promises of quick wealth through high leverage, as these may indicate a trap [5] - Only download trading software from official app stores and avoid clicking on unknown links [5]

Core Viewpoint - The article emphasizes the importance of choosing a reliable and compliant platform for gold trading, especially for new investors looking to enter the market during fluctuating gold prices [1][12]. Group 1: Pre-Account Opening Considerations - Investors should ask themselves three critical questions before registering: Where will their money be stored, who supervises the platform, and whether the costs are transparent [2][3][4]. Group 2: Account Opening Process - The account opening process is straightforward, requiring personal identification, a mobile number, and a bank card for fund transfers [5][6]. - After registration, investors must wait for account verification, which can take from a few minutes to two business days [7]. - Once verified, investors can fund their accounts and begin trading using platforms like MT4 [8]. Group 3: Importance of Simulation and Market Analysis - New investors are encouraged to start with a demo account to practice trading without real financial risk [8]. - Utilizing professional market analysis can help investors understand complex market dynamics and make informed trading decisions [9]. Group 4: Platform Recommendations - Leading platforms include: - **Lepin Precious Metals**: Recognized for its AA-class membership with the Hong Kong Gold Exchange, offering a secure trading environment [12][17]. - **Huangyu Precious Metals**: Holds AA-class membership and is noted for its strong trading technology and customer service [14][17]. - **Xulong Gold Industry**: A newer platform that has quickly gained popularity due to its flexible trading strategies [15]. - **Xiangrui Gold Industry**: Known for its market research capabilities and multiple international certifications [16]. - **Hui Kai Gold Industry**: Offers various trading tools and is compliant with financial regulations [21][22]. Group 5: Security and Customer Support - Platforms prioritize user security through advanced encryption technologies and provide 24/7 customer support to assist investors [13][20][25].

Core Insights - The demand for specialist gold traders is surging as interest in precious metals increases, leading to a competitive hiring environment and rising compensation packages in a historically niche market [1][4]. Group 1: Market Dynamics - Major commodity traders like Trafigura and Gunvor are actively hiring teams of precious metals traders, with other firms such as IXM and Mercuria also seeking to expand their presence in this sector [2]. - The gold market, with hundreds of billions of dollars traded weekly in London, has been traditionally dominated by a few banks, but the influx of new market participants is creating a talent shortage [3][7]. - The London Bullion Market Association conference highlighted the growing interest in precious metals, indicating a shift towards mainstream recognition of the sector [4][5]. Group 2: Financial Performance - The 12 leading banks reported earnings of $500 million from precious metals in Q1 2025, which is approximately double the average quarterly earnings over the past decade [6]. Group 3: Talent Acquisition Challenges - The precious metals trading sector has seen a decline in available talent due to years of neglect, with many experienced traders retiring and fewer graduates entering the field [7][8]. - The competition for skilled traders has intensified, with physical trading houses and hedge funds offering significantly higher bonuses compared to traditional banks [8][9]. - The hiring spree includes banks like DBS and OCBC, which are responding to strong client demand in the precious metals sector [11][12].

Core Insights - Gold prices experienced a significant drop of 6.3% this week, marking the largest decline since 2013, closing at $4,113.05 an ounce after peaking at approximately $4,400 an ounce [2][6] - The recent price drop has led to increased interest from retail investors looking to buy gold, as evidenced by long queues at gold stores and reports of sold-out gold bars [3][4] - A major annual precious metal conference in Kyoto is attracting nearly one thousand professionals, indicating ongoing enthusiasm in the gold market despite recent price corrections [5] Market Analysis - Nicky Shiels from MKS Pamp SA described the gold market as "overcrowded" and "overextended," suggesting that a correction was necessary for the bull market to sustain itself [2][6] - The gold price peaked at just above $4,381 an ounce before the recent decline, which was largely isolated to the precious metals market, with other major markets remaining stable [6] - The $138.77 weekly drop in gold prices is among the largest ever recorded, highlighting the volatility and potential for rapid changes in investor sentiment [2]

Core Insights - The silver market is experiencing unprecedented demand and supply shortages, primarily driven by a surge in buying from India during the Diwali festival and a broader global interest in precious metals as a hedge against the US dollar's fragility [1][5][7] - Prices for silver reached record highs above $54 an ounce before experiencing a significant drop of up to 6.7%, indicating extreme volatility and stress in the market [5][16] - The current crisis is attributed to a combination of factors, including a multi-year solar power boom, increased investment in precious metals, and a sudden spike in demand from India, leading to a depletion of inventories [7][24][38] Demand Dynamics - During the Diwali season, Indian consumers shifted their focus from gold to silver, driven by social media promotions highlighting silver's favorable price ratio to gold [8][9][10] - The demand for silver in India surged, with premiums rising significantly above global prices, indicating a supply crunch [10][16] - Major banks, including JPMorgan Chase, reported an inability to fulfill silver delivery requests to India, highlighting the global nature of the supply strain [12][16] Market Conditions - The London silver market faced a severe liquidity crisis, with borrowing costs for silver skyrocketing to annualized rates of up to 200% [18][20] - The market's dysfunction was evident as traders could exploit price discrepancies between banks, a rare occurrence in such a competitive environment [20] - The London Bullion Market Association (LBMA) does not plan to intervene, viewing the current squeeze as a result of genuine supply shortages rather than logistical issues [23][24] Supply Chain Challenges - Over the past five years, silver demand has consistently outstripped supply, exacerbated by a boom in the solar industry and significant inflows into silver ETFs [24][38] - By early October, the "free float" of silver not owned by ETFs in London had dropped to less than 150 million ounces, creating a precarious situation for traders [27][38] - The logistics of moving silver from New York to London are complicated, with potential delays at customs adding to the market's stress [30][32] Future Outlook - Analysts predict further pressure on silver prices as new supplies are expected to enter the market, potentially alleviating the current squeeze [35][36] - The market remains cautious due to the possibility of new tariffs on silver, which could impact pricing dynamics [33][36] - The unprecedented retail buying frenzy and the ongoing supply challenges suggest that the silver market will continue to experience volatility in the near term [36][38]

Core Insights - A global surge in retail demand for physical gold and silver is observed, with queues forming outside bullion shops in various countries, indicating a potential market euphoria [1][2][4] - Gold's total market capitalization has surpassed $30 trillion, leading analysts to suggest that this frenzy could signify a "macro top" for the asset [1] - The phenomenon is not limited to gold, as there is also a notable increase in silver purchases, with interest spanning across different age demographics [2][3] Retail Demand Trends - Viral videos from BullionStar in Singapore show long lines of customers waiting before opening hours, a trend mirrored in Sydney and other global locations [2] - In Vietnam, reports indicate that some gold shops have run out of stock due to overwhelming demand, with signs stating "Temporarily out of gold for sale" [4][5] - The buying frenzy is characterized by a "herd mentality," with customers queuing for hours, and Japan's top gold retailer struggling to meet demand [5] Market Dynamics - The surge in gold buying follows recent pro-gold legislation in Florida, which will allow gold and silver coins to become legal tender and sales tax-exempt starting July 2026 [6] - Analysts express caution regarding the retail psychology, suggesting that while demand is high, some investors may face challenges in exiting their positions [6]

Group 1 - The core point of the news is the significant increase in physical gold prices, with Bai Tai gold quoted at 1247 CNY per gram, up by 91 CNY from the previous day [1][2] - Platinum prices remained stable at 278.8 CNY per gram, showing no change from the previous day [1][2] - Gold bar prices increased to 1045 CNY per gram, rising by 37 CNY compared to the previous day [1][2] Group 2 - According to analysts from JPMorgan and Goldman Sachs, the number of initial jobless claims in the U.S. is expected to decrease, although many individuals remain unemployed due to weak hiring [3] - It is estimated that for the week ending October 11, the seasonally adjusted number of initial jobless claims fell from 235,000 to 217,000 [3]

Core Insights - Silver prices have reached a record high of $53.55 an ounce in London, driven by a historic short squeeze and increased demand for safe-haven assets [1] - The surge in silver prices has led to a global search for the metal, with traders booking expensive transatlantic flights for silver bars to capitalize on price differences [2] - High silver lease rates, exceeding 30% on a one-month basis, are creating significant costs for those maintaining short positions [3] Market Dynamics - A recent spike in demand from India has reduced the supply of available silver bars in London, following earlier shipments to New York due to tariff concerns [5] - Despite precious metals being exempt from tariffs since April, traders remain cautious ahead of the conclusion of the US Section 232 probe into critical minerals, which includes silver [6] - Analysts from Goldman Sachs have cautioned about the potential for a price correction in the relatively illiquid silver market, which is significantly smaller than the gold market [7] Trading Behavior - The premium for silver in London was approximately $1.6 an ounce in early trading, down from $3 the previous week, indicating fluctuating market conditions [2] - There is a noted mismatch between paper contracts and physical positioning in the silver market, as highlighted by industry experts [4]