Commodities

THE BOTTOM LINE

Cement is hitting a wall. There’s no coming back

Prices are at their lowest in a decade, and factories are saddled with more than twice the capacity they need

Global consumption of bars and coins reached around a quarter of total silver demand in 2025; the figure continues to climb.

From Changi vaults to Asian markets, silver rallies even as caution grows

Heavy investor buying has pushed the metal into a persistent supply deficit despite softening industrial and jewellery demand

OCBC’s price forecast for silver stands at US$81.4 per troy ounce for December 2026, and US$82.2 per troy ounce for March 2027.
BT EXPLAINS

Silver’s one-year 180% bull run: What to know about investing in it versus gold

The use of digital silver accounts to manage silver investments has gained traction recently

This could end up being Ken Griffin's Citadel sixth year since its 1990 inception that returned less than 10%.

Citadel posts worst return since 2018 as natural gas bets falter

This is partly due to erratic swings triggered by geopolitical turmoil, making trades hard to stick to

“The move into gold is not about de-dollarisation, it’s about 'de-fiatisation',” says Guy Wolf, global head of market analytics at Marex.
OUTLOOK 2026

Gold could hit US$5,000 an ounce in 2026 if risk hedging persists: market watchers

Returns are expected to moderate for the precious metal in the new year, say analysts

On Wednesday, the US Federal Reserve cut interest rates by 0.25 per cent, and projected one more quarter-point cut in 2026.

Silver surges, the won sinks and markets recalculate

What does the Fed’s new “neutral rate” mean for Asia? Plus, silver’s boom, Korea’s rally, and Nvidia’s China chip deal.

The price of silver hit US$63.86 per ounce on Dec 10, nearly double its level a year ago, after the Fed trimmed rates by 25 basis points.
THE BROAD VIEW

Is silver the new gold?

The surge in the precious metal’s price could have ominous implications for the markets

Buyers of US LNG have contemplated delaying cargo loading, while some owners of oil tankers are seeking to maximise earnings.

Ship rates spiking 467% marks upended trade across commodities

Freight costs typically dip at year-end due to seasonal weakness in demand

Physical trading houses such as Trafigura and IXM typically already trade some gold and silver as a byproduct of their activities in copper, lead and zinc ore, known as concentrates.

Gold trader hiring spree drives up pay as bullion market booms

In addition to the demand from trading houses, hedge funds, refiners, brokers and banks are also hiring precious metals traders, leading to a huge turnover of jobs at both senior and junior levels