SHFE Crude Oil Futures Rise 4.25% in Night Trading; Gold and Silver Fall

The split between a sharp crude rally and a steep precious-metals selloff in the same session points to a rotation in onshore Chinese positioning rather than a single macro signal. Energy strength alongside gold and silver weakness suggests traders are repricing inflation and growth expectations in opposite directions. The scale of the silver move, far larger than gold's, is the more notable detail, since it implies leveraged liquidation rather than a simple sentiment shift. Whether that divergence persists into the next session is the open question.