PRECIOUS METALS | Shanghai Gold Futures Fall Over 4% as Most China Commodity Contracts Rise

China’s major domestic futures contracts were mostly higher by the end of the morning session, led by gains in polysilicon and energy-related products. According to Jin10, polysilicon rose more than 4%, while low-sulfur fuel oil (LU) climbed nearly 4%. Palladium, fuel oil, liquefied petroleum gas (LPG), SC crude oil, methanol, and lithium carbonate each gained more than 3%. On the downside, Shanghai gold futures fell more than 4% and Shanghai silver futures dropped nearly 4%. Shanghai zinc declined more than 2%, while international copper, Shanghai nickel, Shanghai copper, ferrosilicon, and Shanghai tin each fell more than 1%.