China's central bank added 480,000 troy ounces (14.93 tonnes) of gold to its reserves in June, marking the 20th consecutive month of gold purchases, as part of its strategy to diversify foreign-exchange reserves and reduce dependence on US-denominated assets.
Futures prices for platinum, palladium, gold, and silver saw significant gains on the New York Mercantile Exchange (NYMEX) and Comex. Palladium futures were up 3.14%, platinum futures gained 3.43%, gold futures rose 2.31%, and silver futures increased by 3.39% as of 10:30 a.m. Moscow time.
Palladium, platinum, gold, and silver futures prices rose by 0.17% to 4.16% on NYMEX and Comex as of 6:12 p.m. Moscow time (3:12 p.m. GMT) on May 13.
Silver futures for July 2026 surpass $90/troy ounce for the first time since March 10, 2026, reaching $90.025 (5.18% gain) before narrowing to $89.78 (4.89% gain) by 7:20 PM Moscow time; gold futures for June 2026 up 0.46% to $4,708.4/troy ounce.
Gold prices fell 12% from US$5,247.90 to US$4,620 per troy ounce as energy cost-driven inflation concerns reduced expectations for central bank rate cuts, making interest-bearing assets more attractive. Oil prices remained elevated with Brent crude futures for July rising to US$111.41 per barrel, while the June contract expired at US$126.41, the highest since March 2022.
Silver futures for May 2026 delivery on the Comex exchange dropped below $75 per troy ounce for the first time since April 13, 2026. The price fell 3.86% to $74.95 by 1:12 p.m. Moscow time, then extended losses to 4.66% at $74.33 by 1:23 p.m. Meanwhile, gold futures for June 2026 delivery declined 1.12% to $4,700 per troy ounce.
Precious metals futures declined 1.47-3.49% on NYMEX and COMEX, with palladium falling 3.49% to $1,545 per troy ounce and platinum down 2.7% to $2,083.9/oz. Gold futures dropped 1.47% to $4,808/oz while silver fell 3.18% to $79.24/oz. The decline is linked to Middle East tensions following US-Israel operation against Iran launched February 28, with a failed ceasefire and ongoing naval blockade adding to market uncertainty.
