A rare technical fault at CME Group temporarily froze global futures trading, including precious metals like gold and silver, triggering safe-haven demand as traders scrambled for clarity.
The outage, caused by cooling failures at a major data center, hit during a low-volume period due to the U.S. Thanksgiving holiday, which muted broader market impact.
Despite the disruption, spot gold and silver markets remained active, with prices climbing amid continued investor interest.
Gold rose to $4,245 per ounce, while silver made new highs near $57, driven in part by concerns over tight supply and long-term bullish sentiment.
Meanwhile, geopolitical tensions and sanctions have reshaped central bank strategies.
For the first time, Russia’s central bank began selling its gold reserves directly to the domestic market.
Faced with dwindling liquid assets and a shrinking National Welfare Fund, Moscow is offloading substantial amounts of gold to stabilize its currency and meet budgetary needs.
Analysts warn this move, while temporarily supportive, risks depleting Russia’s strategic reserves and increasing its dependency on asset sales for financial stability.
On the global stage, China’s role in the gold market is under increasing scrutiny.
Independent estimates suggest the country’s actual gold purchases may be ten times higher than official figures, positioning China as the second-largest holder of sovereign gold after the U.S.
Analysts believe this quiet accumulation is part of a broader strategy to reduce exposure to U.S. assets amid rising geopolitical uncertainty.
The trend highlights a global shift toward gold as a hedge against sanctions, currency instability, and economic fragmentation.
Together, these developments reflect a broader transformation in the global financial system.
Central banks in emerging markets are doubling down on gold to protect reserves, diversify away from the dollar, and prepare for a more multipolar world.
With prices already surging—gold up over 40% in 2025—analysts forecast further gains, expecting the metal to surpass $5,000 per ounce in a sustained long-term rally.