Dollar weakens, metals nearly all rise; SHFE tin and LME nickel lead the gains, LME tin, SHFE nickel, and SHFE silver top the gains [Overnight Market] - Shanghai Metals Market

AI desk brief

Dollar weakness supported a broad metals rebound overnight, with precious metals mixed: COMEX gold fell 0.42% while COMEX silver rose 1.51%; on SHFE, gold eased 0.31% and silver gained 1.54%. The move in silver was more pronounced than gold, suggesting the metal is tracking the broader risk-on metals tone and softer USD backdrop more closely than bullion.

Outside precious metals, base metals were firm across LME and SHFE, with tin and nickel leading gains, reinforcing the constructive tone for the complex. Gold’s underperformance versus silver keeps near-term bullion sentiment mixed, but the weaker dollar backdrop is still broadly supportive for metals overall.