Base metals prices rallied on global market optimism and reports of increased Chinese bond sales. The LMEX Index, despite being down 8% this quarter due to concerns about Chinese demand, saw gains across nickel, zinc, aluminum, and copper. China’s potential record 3 trillion yuan special treasury bond issuance for 2025 aims to stimulate its slowing economy. Meanwhile, positive US economic data has rekindled hopes for Federal Reserve easing, further supporting commodity prices.

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Gold Is Decoupling From Geopolitics. Here’s the Proof
Gold rose 3% on Iran peace news Wednesday. It held those gains Thursday when the US military briefed Trump on strike options. Same metal, opposite headlines, same price — because the monetary floor beneath gold is now larger than any geopolitical premium on top of it.




