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Tag: silver

  • Meituan Sees Silver Lining as Food Delivery Battles Cool Down Despite Another Quarter Loss

    Meituan Sees Silver Lining as Food Delivery Battles Cool Down Despite Another Quarter Loss

    Meituan, China’s foremost food delivery company, reported its third consecutive quarterly loss this Monday. However, it did manage to meet revenue growth projections. The company has been weathering a particularly tough year, characterized by fierce, subsidy-driven competition in China’s one-hour delivery sector. However, the market shows signs of normalizing again.

    In earlier years, the rapid expansion and profits of Meituan were put under strain when Taobao, owned by Alibaba, and JD introduced their ‘instant retail’ services in 2025. Instant retail, also known as quick commerce, involves online purchases of items such as food, bubble tea, and daily essentials that are delivered within an hour.

    In 2026, after persistent disapproval from Chinese regulators who coined the term ‘race to the bottom’ to describe the fierce instant retail competition, the excessive discounting on food delivery platforms began to moderate. This shift indicated that the industry was moving into a phase of more regular growth.

    The revenue for Meituan for the quarter ending on March 31 was reported to be 91 billion yuan (equivalent to US$13.45 billion). This represented a 5.6% increase from the previous year and was in line with financial analysts’ predictions.

    The adjusted net loss of the company shrunk to 4.97 billion yuan, which was a significant improvement from a loss of 15.1 billion yuan in the last quarter. During the same period in the previous year, Meituan had reported a profit of 10.9 billion yuan.

    CEO Wang Xing addressed the situation optimistically, stating, “With industry-wide subsidies finally getting more rational, we are seeing a shift back to the fundamentals of operational efficiencies and user experience. This transition plays to our strengths.”

    However, the company has also faced regulatory challenges. In April, the Chinese market regulator imposed fines amounting to a total of 3.6 billion yuan on seven e-commerce platforms, including Meituan, for violating food delivery safety regulations.

    Last week, China’s State Administration for Market Regulation instructed local authorities to conduct a special inspection campaign until December on companies operating in sectors ranging from live-streaming to food delivery.

    Questions & Answers

    What is Meituan’s standing in China’s food delivery industry?
    Meituan is the leading food delivery company in China.

    What challenges has Meituan been facing in recent years?
    Meituan has been dealing with intense competition in the instant retail sector, regulatory penalties for food delivery safety violations, and financial struggles reflected in consecutive quarterly losses.

    What is the ‘race to the bottom’ that Chinese regulators refer to?
    The ‘race to the bottom’ refers to the extreme competition in the instant retail sector, characterized by excessive discounting by food delivery platforms.

  • New Trends in Lifestyle Retail: Sustainability, Personalisation, and Silver Economy Spotlighted at Upcoming Hong Kong Fairs

    New Trends in Lifestyle Retail: Sustainability, Personalisation, and Silver Economy Spotlighted at Upcoming Hong Kong Fairs

    The upcoming Hong Kong Gifts & Premium Fair and Home InStyle, set to take place later this month, are poised to once again underscore Hong Kong’s pivotal role in highlighting changing trends in Asia’s lifestyle and retail sourcing sectors.

    Program Overview

    Scheduled from April 27th to 30th at the Hong Kong Convention and Exhibition Centre, the two events are components of a broader program of seven parallel trade fairs. These fairs cover a wide array of areas including gifts, home, fashion, packaging, and licensing.

    Key Themes of 2026

    This year, the Hong Kong Gifts & Premium Fair will center around four main themes: personalisation, sustainability, health and wellness, and culture and creativity. The Color of the Year for 2026, ‘Cloud Dancer,’ will be showcased, reflecting the fair’s ongoing partnership with Pantone. This demonstrates how international color forecasting is being incorporated into commercial applications across a variety of lifestyle sectors.

    Focus on New Materials and Gerontechnology

    Concurrently, Home InStyle will shed light on innovative materials, cultural design, and gerontechnology. These highlights align with the increasing business interest in aging populations and the expanding ‘silver economy’ throughout Asia. The event will also present international exhibitors known for their design-led and craft-focused products. These range from Bohemian glassware and handmade woven baskets to bamboo homeware and licensed lifestyle items such as illuminated signage featuring popular characters.

    Creating Business Opportunities

    According to the Hong Kong Trade Development Council (HKTDC), these fairs aim to facilitate business opportunities by bringing together a broad spectrum of suppliers and buyers. Simultaneously, they provide a platform to exhibit an assorted mix of lifestyle products and services spanning multiple categories.

    Questions & Answers

    What are the key themes of the 2026 Hong Kong Gifts & Premium Fair?
    The key themes are personalisation, sustainability, health and wellness, and culture and creativity.

    What will Home InStyle highlight in its upcoming event?
    Home InStyle will highlight innovative materials, cultural design, and gerontechnology, which aligns with the increasing business interest in aging populations and the expanding ‘silver economy’ throughout Asia.

    What is the purpose of these fairs according to the Hong Kong Trade Development Council (HKTDC)?
    The HKTDC states that these fairs aim to generate business opportunities by connecting a wide spectrum of suppliers and buyers, while also showcasing a diverse mix of lifestyle products and services across multiple categories.

  • Doji Dives into Silver Bar Trade: New Online and In-store Opportunities for Vietnamese Investors

    Doji Dives into Silver Bar Trade: New Online and In-store Opportunities for Vietnamese Investors

    DOJI, a renowned jewelry retail chain, recently joined the ranks of the nation’s silver bar distributors, making it the fourth such establishment in the country. The company initiated the sale of one- and five-tael silver bars in the cities of Hanoi and HCMC on Tuesday, with plans for expansion into Da Nang City and Hai Phong City. It’s notable to mention that a tael is a unit of measurement equivalent to 37.5 grams or 1.2 ounces.

    Customers are given the option to either purchase from DOJI’s physical stores or use the company’s eGold app to shop online. The company expressed that there has been a rapid increase in demand for physical silver as a store of wealth. However, the market is experiencing a shortage of standardized products, particularly regarding weight and quality.

    The Current Silver Bar Market

    As it stands, the silver bar market is serviced by three other distributors, Phu Quy Silver, Sacombank, and Ancarat. Despite the growing popularity of silver bars, market analysts have issued warnings regarding the volatility of silver prices. They noted that price fluctuations for silver tend to be more drastic compared to gold, which may make it less suitable for novice short-term traders and those employing leverage.

    Recent Silver Market Trends

    Following the Lunar New Year holidays, silver has been trading at VND3.4 million (US$126.21) per tael, which is 25% below the record high it reached at the end of January. The average price forecast for the metal this year is $81 per ounce, as per the prediction of a major banking institution. This is more than double the 2025 figure.

    Another financial institution provided a more optimistic short-term forecast at the close of January, suggesting that silver could potentially reach $150 within three months. This prediction was attributed to technical factors and developments in supply and demand.

    Questions & Answers

    What is the latest addition to DOJI’s offerings?
    DOJI has recently started selling one- and five-tael silver bars, becoming the country’s fourth distributor of this product.

    What has led to the increased demand for physical silver?
    The surge in demand for physical silver is largely due to its appeal as a store of wealth. However, the market currently lacks standardized products in terms of weight and quality.

    What are the current predictions for silver prices?
    A major banking institution projects an average price of $81 per ounce this year, more than double the 2025 figure. Another financial institution anticipates that silver could reach $150 within three months due to technical factors and supply-demand developments.

  • UBS China Joint Venture Faces Backlash Over Unexpected Benchmark Switch in Silver Fund

    UBS China Joint Venture Faces Backlash Over Unexpected Benchmark Switch in Silver Fund

    A silver fund run by UBS’s Chinese partner has drawn a wave of complaints from investors. The grievances have been sparked by a decision to change benchmarks, a move that has reportedly resulted in greater losses than investors had anticipated.

    Over 200,000 individuals have raised concerns against UBS’s domestic Chinese partnership with the state-controlled SDIC Group. The objections are primarily focused on UBS SDIC Fund Management’s decision to alter the valuation mark for the UBS SDIC Silver Futures Fund LOF. The company shifted from Shanghai Futures Exchange settlement prices to international market prices without giving investors prior notice. It is thought that this change transformed losses from an expected cap of 17 percent, due to a daily price limit, to over 31 percent.

    This alteration took place during a significant collapse in silver prices on January 30, which saw the value of the precious metal plummet by over 30 percent. In response to this situation, the company formed a task force and subsequently announced a compensation plan for investors who redeemed their investments on February 2.

    Questions & Answers

    What caused the wave of complaints against UBS’s Chinese partner?
    Investors were unhappy with UBS SDIC Fund Management’s decision to switch the valuation mark for the UBS SDIC Silver Futures Fund LOF from Shanghai Futures Exchange settlement prices to international market prices without any prior notice.

    What was the impact of the benchmark switch on investors?
    The change is believed to have amplified losses from an anticipated cap of 17 percent due to a daily price limit, to an actual loss of over 31 percent.

    What measures did the company take in response to the silver price crash?
    In response to the silver price crash and the resulting investor complaints, the company formed a task force and announced a compensation plan for investors who redeemed their investments on February 2.

  • Bian Ximing: From Gold Tycoon to Silver Bear in $300M Shift Amid Market Fluctuations

    Bian Ximing: From Gold Tycoon to Silver Bear in $300M Shift Amid Market Fluctuations

    Billionaire Chinese trader, Bian Ximing, formerly famous for leveraging the gold rally, has now focused his attention on the dramatic ascent of silver. He has placed a significant bet on a price plunge, an investment currently worth almost $300 million.

    A Pivot from Gold to Silver

    Bian Ximing, a typically discreet individual who spends much of his time in Gibraltar, amassed nearly $3 billion from his bullish ventures in Shanghai Futures Exchange gold contracts, dating back to the start of 2022. He has since shifted his focus to silver, holding the exchange’s largest net short position, according to available data.

    However, this substantial short position is not without its risks, and Bian has been compelled to exit some trades at a loss due to the unstable silver price movements. His current short position is equivalent to approximately 450 tons of silver, or around 30,000 contracts.

    The notable drop in the value of the metal from the previous week has resulted in a potential gain of around CNY2 billion ($288 million). After factoring in previous losses, Bian is poised to make a net profit of about CNY1 billion.

    Fluctuating Silver Prices

    On February 5, silver reached a six-week low but has since rebounded to approximately $81.52 per ounce. This is around 43% lower than the historic high of $116.85 recorded at the end of January.

    Data from the exchange reveals that Bian, via his brokerage, Zhongcai Futures Co., began to significantly increase his silver short positions in the last week of January. Although the Shanghai Futures Exchange does not disclose the individuals behind brokerage accounts, sources suggest that Bian’s trades, in addition to the products he directly manages for a select group of clients, comprise the majority of Zhongcai’s precious metals exposure.

    Market Reaction and Bian’s History

    This shift in strategy from Bian takes place as recent severe price fluctuations force market players to reconsider their approach to precious metals. The rally of silver is increasingly seen as industry-led and primarily fueled by speculative positioning rather than fundamental economic factors.

    Bian first achieved prominence in China’s futures markets through aggressive bullish gold trades that began about four years ago. He is part of a small, elite group of high-profile commodities traders who have influenced the market. Compared to many of his peers, he is recognized for his privacy and the devoted online following attracted by his investment philosophy.

    Bian began amassing a long silver position in August of last year, a move that generated profits of over CNY1.3 billion, based on estimates from exchange data. However, by November, he started changing course, aiming to predict the peak of the rally with gradual position adjustments, which at times led to trading losses.

    Questions & Answers

    What is Bian Ximing’s current position in silver?
    Bian Ximing currently holds a short position equivalent to roughly 450 tons of silver, or approximately 30,000 contracts.

    How has the silver market fluctuated recently?
    Silver dipped to a six-week low on February 5 but has since recovered to around $81.52 per ounce, about 43% lower than its historic high of $116.85 at the end of January.

    What is Bian Ximing’s investment history with precious metals?
    Bian Ximing first rose to prominence through aggressive bullish trades in gold about four years ago. In August of the previous year, he started to accumulate a long position in silver, yielding profits of over CNY1.3 billion.

  • Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    On Monday morning, silver prices in Vietnam hit an all-time high as global demand for safe-haven assets surged. The price of Phu Quy silver jumped 6% to VND4.24 million (US$162) per tael, equivalent to VND112.8 million per kilogram.

    Silver Prices Surge in Vietnam

    Since the start of the year, the cost of this white metal in Vietnam has seen an increase of 35%. This rise parallels a global trend, where the price of spot silver increased by 4.57% to $107.65 per ounce. This sharp increase comes after it hit an unprecedented high of $108.60 per ounce. The escalation can be attributed to investors seeking refuge in safe-haven assets due to escalating geopolitical uncertainties.

    Silver Crosses the $100 Mark

    On Friday, silver prices exceeded the $100 mark for the first time ever. This rise builds on last year’s significant increase of 147%. The astounding growth is a result of an influx of retail investors and momentum-driven purchases, exacerbating a longstanding period of scarcity in the physical markets for silver.

    Questions & Answers

    What is a safe-haven asset?
    A safe-haven asset is a type of investment that is expected to hold or increase its value during market turbulence. These assets are typically sought after by investors to limit their exposure to losses during market downturns.

    What caused the surge in silver prices in Vietnam?
    The surge in silver prices in Vietnam can be attributed to an increase in global demand for safe-haven assets, as well as geopolitical uncertainties.

    What factors contributed to silver prices crossing the $100 mark?
    The surge beyond the $100 mark was driven by an influx of retail investors and momentum-driven purchases, which intensified an already present scarcity in the physical markets for silver.

  • Unprecedented Silver Boom: Vietnam Witnesses Record-Breaking High Amid Global Supply Crunch

    Unprecedented Silver Boom: Vietnam Witnesses Record-Breaking High Amid Global Supply Crunch

    Vietnam’s silver prices reached record heights on Monday morning. This surge was triggered by a worldwide increase in the value of the precious metal due to a supply shortage. The selling price at the jewelry chain Phu Quy increased by 6% from Sunday, standing at VND3.07 million (US$117) per tael (37.5 grams). The rate has experienced a substantial increase of 169% within the year.

    Global Silver Prices

    On an international scale, the price of silver soared past the $80-per-ounce mark for the first time. However, it later saw a sharp decrease in a volatile trading environment on Monday.

    Charu Chanana, the Chief Investment Strategist at the investment bank Saxo, said precious metals have experienced a boost this year due to a potent combination of factors. These include rate-cut tailwinds and hedging against geopolitical and fiscal uncertainties. She noted, “Adding supply concerns to the mix has resulted in a parabolic movement. However, the abrupt spike towards the end of the year, particularly in silver prices, also points towards the possibility of greater volatility. In the short-term, the risk is primarily technical and positioning-led.”

    Investments in Silver and Other Alternatives

    Significant debt loads in major economies such as the U.S., France, and Japan, combined with a lack of political determination to address these issues, have encouraged some investors to turn to silver and other alternative assets this year.

    Moreover, the global production of silver from mines has been restricted due to decreasing ore grades and a lack of new project development.

    Questions & Answers

    What has driven the recent surge in silver prices in Vietnam?
    The recent upsurge in Vietnam’s silver prices has been driven by a global increase in the value of the precious metal due to supply shortages.

    What factors have boosted the value of precious metals this year?
    The value of precious metals has surged due to a combination of rate-cut tailwinds and hedging against geopolitical and fiscal uncertainties.

    Why have some investors been accumulating silver and other alternative assets this year?
    Significant debt loads in major economies, coupled with a lack of political will to address these issues, have prompted some investors to accumulate silver and other alternative assets.

  • Pandora switches to 100 per cent recycled gold and silver

    Pandora switches to 100 per cent recycled gold and silver

    Pandora has shifted to using recycled silver and gold for all of its jewelry, a move it said will avoid significant greenhouse gas emissions.

    The new strategy aims to reduce 58,000 tons of carbon dioxide every year. According to the company, the carbon footprint of recycled silver is one-third compared to mined silver, while recycling gold emits less than 1 per cent of the carbon emissions from mining new gold.

    The target was previously set for 2025, but has been achieved early thanks to the strong commitment from the firm’s suppliers.

    Suppliers have had to switch their operations to only source materials that are certified recycled according to the Responsible Jewelry Council Chain of Custody.

    Pandora currently produces its jewelry with 97 per cent recycled silver and gold and is expected to increase to 100 per cent from this year’s second half.

    “Precious metals can be recycled forever without any loss of quality. Silver originally mined centuries ago is just as good as new, and improved recycling can significantly reduce the climate footprint of the jewelry industry,” said CEO Alexander Lacik.

    The Copenhagen-based company sells its products in more than 100 countries through more than 6500 points of sale, including some 2500 concept stores.

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  • Michael Kors launches improved Sofie Heart Rate smartwatch

    Michael Kors launches improved Sofie Heart Rate smartwatch

    Michael Kors is expanding its smartwatch offering with an improved version of Sofie, a wearable device that was launched two years ago. The new model, weirdly named Sofie Heart Rate, packs a few new features that the original model lacked, but keeps a similar price.

    The Sofie Heart Rate is available in five colors – Pave Rose Gold, Rose Gold, Silver, Pave Two-Tone, and Gold, for as low as $325. Officially unveiled early this year, Michael Kors’ new smartwatch runs Wear OS and is fully compatible with iPhone and Android phones.

    Unlike the original model, the new Sofie Heart Rate features built-in GPS, NFC (Near Field Communication) payment technology, heart rate tracking, and swimproof technology (water resistant up to 30m). Also, it comes with an AMOLED display, 4GB internal storage, and a 300 mAh battery.

    Design-wise, the smartwatch is made of stainless steel and features interchangeable straps. According to Michael Kors, in addition to the three classic stainless steel platings and the two-tone glitz version models, the Sofie Heart Rate will also be offered in alligator-stamped silicone. Moreover, brown and plum stainless steel platings, along with grey silicone, will be made available this fall.

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  • Gold futures maintain losses after retail sales data

    Gold futures maintain losses after retail sales data

    Gold prices managed to trade above the psychological resistance of $1,100 per Oz on US day session Monday.

    Platinum for October delivery dropped Dollars (90.49 percent) to close at USD 995.00 per ounce. Spot prices earlier reached a three-week high of $1,126.31, 4.5% above last month’s low. Bullion rose in the previous five days.

    The rebound that began at the start of this week broke out above a prolonged consolidation pattern just above late July’s new 5-year intraday low of 1077. So far, there’s no telling how the Fed will react to China’s surprising currency devaluation, after some positive economic news earlier today.

    “Transparency is always better than having to guess what is happening in the market“, Michael Widmer, head of metal markets research at Bank of America Corp.in London, said by phone. Asian stocks turned mixed as investors weighed the implications of the surprise move, which seemed to end months of officially sanctioned yuan strength. “So some haven seekers have been returning”.

    Gold is ripping higher on Wednesday. It was likely a combination of a temporary slump in the US dollar as market players took profit of long USD trades, and a positivity that the lower renminbi and upcoming stimulus would revive China’s exports growth and subsequently commodity demand. There is also some market conjecture that perhaps this week’s events will cause the Federal Reserve to hold off starting its expected tightening of interest rates yet this year. “I think the point of “liftoff” is close”, Lockhart said in a speech to the Atlanta Press Club. That, however, was predicated on the assumption that the Fed would defer the interest rate hike beyond September.

    The dollar’s moves in U.S. trading were subdued, which meant the PBOC could set Friday’s reference below Thursday’s 6.4010, at around 6.39, said Sean Callow, senior currency strategist at Westpac. On Wednesday, the U.S. Department of Energy will release its own more closely watched figures on the same stockpiles. If the metal were as valueless as a pet rock, as one Wall Street Journal op-ed recently claimed, why would they bother to do this? “This is an act of desperation by the Chinese….”

    US central bankers could raise rates for the first time in almost a decade at a September 16-17 meeting.

    To the extent that the Chinese devaluation reflects economic weakness in China, this will be negative for large U.S. multinationals that do business in that country (and others affected by the currency wars). The government is scheduled to report both weekly jobless claims and July retail sales at 8:30 a.m. EDT.