On January 12, 2026, the Shanghai Gold Exchange's Shanghai Gold (standard weight 1 kg, gold ingot with a fineness of no less than 99.99%; pricing contract) afternoon session benchmark price was quoted at 1,023.27 yuan/gram, an increase of 19.56 yuan/gram (1.95%) compared to the previous trading day's afternoon session benchmark price of 1,003.71 yuan/gram.
PriceSeek Analysis
Gold
Bull/Bear Score: 2
The Shanghai Gold Exchange's afternoon session benchmark price rose by 19.56 yuan/gram (1.95%), indicating strong demand in the spot market, which may be driven by safe-haven sentiment or tight supply and demand. Combined with recent futures data (e.g., the closing price of the 2026-01-09 contract 2606 was 1,011.22 yuan/gram, with a change of +1.42), this event reinforces the upward trend, benefiting futures prices. It is expected that the bullish trend will continue in the short term.
Silver
Bull/Bear Score: 1
Silver exhibits a positive correlation with gold, and the rise in gold prices may indirectly boost spot demand for silver. However, the text does not directly mention silver, and recent futures data (e.g., the closing price of the 2026-01-09 contract 2604 was 18,731 yuan/kg, with a change of -596) show volatility, indicating a limited impact. It is rated as a moderate positive, and subsequent market sentiment transmission should be monitored.
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