24, 2025, at a premium to futures contracts, a classic case of backwardation that hints at a snug physical market in China. China’s
Silver Prices Surge in Shanghai Amid Backwardation, Signaling Tight Supply in China
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This week has been an absolute roller coaster in the precious metals space, with price action doing cartwheels and headlines barely keeping up. Spot silver on the Shanghai Gold Exchange finished Dec. 24, 2025, at a premium to futures contracts, a classic case of backwardation that hints at a snug physical market in China. China’s