Group 1: Yemen Situation - Saudi Arabia conducted airstrikes on Mukalla port in Yemen, leading to a nationwide state of emergency declared for 90 days by the Yemeni Presidential Leadership Council [1][2] - The airstrikes targeted weapons and military vehicles unloaded from two Emirati ships that entered Mukalla port without coalition permission [1] - The coalition's actions were described as necessary to protect civilians in the Hadhramaut and Mahra provinces due to the threat posed by the weapons [1] Group 2: Federal Reserve Meeting Minutes - The Federal Reserve's December meeting minutes indicated that most participants supported a rate cut in December, with a consensus on the economy expanding at a moderate pace [3] - Participants noted a rise in inflation since the beginning of the year and expressed uncertainty regarding GDP growth forecasts [3] - The market's expectations for rate cuts have not significantly changed, with traders leaning towards two rate cuts next year rather than three [4] Group 3: Precious Metals Market - Domestic precious metal futures prices experienced a collective decline, with gold and silver contracts dropping by 3.11% and 3.96% respectively [7] - Analysts attribute the recent price drop to a technical correction following previous strong gains and a lack of market liquidity during the holiday season [7] - The outlook for precious metals remains influenced by expectations of Federal Reserve rate cuts and rising demand for safe-haven assets [10][11]

Core Viewpoint - The main focus is on the recent upward trend in the Shanghai silver futures market, indicating a potential continuation of the bullish momentum as long as key support levels are maintained [2][9]. Group 1: Market Performance - The Shanghai silver main contract (2602) has shown a rebound in holdings after a period of reduction, with long positions being replenished, leading to a breakthrough of previous resistance levels [2][9]. - As of December 15, the closing price was around 14,793, which has shifted from a previous resistance level to a new support level, suggesting a potential for continued upward movement in the short term [2][9]. - The recent price movements indicate that the silver market is currently at historical highs, necessitating caution due to the increased likelihood of volatility at these elevated levels [14]. Group 2: Trading Volume Insights - The increase in holdings today has surpassed previous increments, but the volume is notably lower compared to recent spikes on November 28 and December 10, which may indicate a need for greater volume support for further price increases [3][12]. - The starting point for the increase in long positions today corresponds to the 14,800 mark, which may serve as a short-term support level [4][11]. - Continuous monitoring of trading volume during upward movements is essential, as a slowdown in volume could warrant caution regarding high-level silver positions [12].