Gold, silver futures close higher Monday

International gold and silver prices closed higher on Monday.

On the New York Mercantile Exchange, gold futures for December delivery rose 1.81 percent to settle at 3,969.6 U.S. dollars per ounce, while silver futures for December delivery gained 3.27 percent to close at 50.888 dollars per ounce.

China's central bank conducted the third operation of the Securities, Funds and Insurance companies Swap Facility (SFISF) on Tuesday to support the healthy and stable development of the country's capital market.

The operation has a swap term of one year, with the possibility of extension depending on circumstances, according to an announcement released by the People's Bank of China (PBOC) on Monday.

A total of 31 securities and fund companies have submitted applications for the facility, with the amount requested exceeding 100 billion yuan (about 14.89 billion U.S. dollars), the announcement said.

The central bank conducted the previous two SFISF operations in October 2024 and January 2025, with a combined volume of 105 billion yuan (about 15.79 billion U.S. dollars), official data showed.

The PBOC set up the SFISF in October 2024. The tool allows eligible securities, funds and insurance companies to use their assets, including bonds, stock ETFs, and holdings in constituents of CSI 300 Index, as collateral in exchange for high-quality liquid assets from the central bank, such as treasury bonds and central bank bills.

Funds obtained through this facility must be directed exclusively into the capital market for investment in and market-making of stocks and equity ETFs. The facility is designed to improve participating institutions' access to funding and enhance their capacity to increase stock holdings.