Chinese Commodity Futures Open: Shanghai Silver Down Over 4%, Gold Down Over 2%

The split at the Shanghai open is the story: precious metals selling off hard while energy products rally, a divergence that points to rotation rather than a single risk-off or risk-on impulse across the commodity complex. For Chinese futures traders and anyone using Shanghai prices as a read on domestic demand and hedging flows, the gap between metals and energy matters more than either move alone. Whether this metals weakness and energy strength persist into the session, or converge, is the open question worth watching.