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Market Minutes
Read snapshots of the latest market news
Precious metals hit record highs as investors seek refuge
Precious metals—gold, silver, and platinum—recorded significant gains during a highly volatile trading session. Both private investors and central banks are demonstrating a clear intent to hedge against heightened global geopolitical uncertainty and a burgeoning lack of confidence in the US dollar. Meanwhile, US durable goods orders for November revealed a robust increase, underscoring the resilience of the North American economy.
Silver tops $100 amid global geopolitical turmoil; oil prices rise
Silver futures have breached the historic $100 threshold, while gold nears the significant $5,000 psychological milestone. These unprecedented levels reflect an accelerating flight to safety as investors navigate escalating global geopolitical tensions. Simultaneously, the primary crude oil benchmarks, Brent and WTI, advanced following heightening friction between the United States and Iran.
US PCE inflation edges higher; global stock markets gain
The US Personal Consumption Expenditures (PCE) price index accelerated slightly in November, aligning with market expectations. Concurrently, global equity markets rallied following a de-escalation of trade and diplomatic tensions between the US and the EU during the World Economic Forum in Davos, Switzerland. Furthermore, the Chinese government announced a significant treasury bond issuance aimed at financing industrial equipment upgrades and stimulating domestic consumption.
US markets rebound as US–EU tensions ease in Davos talks
US equity markets recovered by the close of trading as geopolitical tensions between the United States and the European Union moderated. During the World Economic Forum in Davos, President Donald Trump announced a framework agreement with NATO regarding the status of Greenland and rescinded previously proposed tariffs on European nations.
Gold tops $4,700 as investors seek refuge; US stocks fall
Gold futures have exceeded $4,700 for the first time in history, while silver has climbed above $94 per ounce. Geopolitical uncertainty remains acute as the dispute over Greenland continues to strain relations between the United States and European nations. Simultaneously, market participants are questioning the Federal Reserve’s future independence amidst escalating pressure from the US Executive.
Gold and silver reach records as US–Europe tensions rise
Gold and silver futures have surged to record highs as geopolitical friction intensifies between the United States and several European nations over the disputed status of Greenland. Failure to reach a diplomatic resolution threatens to ignite a cross-continental trade conflict with the potential to destabilise multiple economic sectors.
US industrial output slows; Trump proposes tariffs to obtain Greenland
US industrial production growth eased slightly year on year but exceeded expectations on a month-on-month basis, highlighting resilience in the industrial sector. Meanwhile, President Donald Trump said he could impose tariffs on countries opposing his plans regarding Greenland. Separately, Novo Nordisk shares surged on positive expectations for US prescriptions of its anti-obesity drug.
Goldman, BlackRock, Morgan Stanley gain on solid reports
Major financial institutions Goldman Sachs, BlackRock, and Morgan Stanley provided a boost to US equity markets following the release of strong fourth-quarter results of 2025. Meanwhile, crude oil prices underwent a correction prompted by a substantial increase in US inventories. Simultaneously, the FTSE UK-100 reached a record milestone, underpinned by surprisingly resilient industrial and manufacturing production data from the United Kingdom.
Major US banks miss expectations, markets retreat
The US earnings season commenced with mixed data from leading financial institutions, precipitating a shift toward pessimistic market sentiment as investors found the results lacked sufficient momentum. Concurrently, gold surged to a new all-time high as geopolitical tensions between the United States and Iran escalated.
US inflation holds steady, gold rises, and oil volatility surges
US inflationary pressures remained stable, sustaining the probability of a neutral-to-dovish stance from the Federal Reserve. Concurrently, gold prices have extended their upward trajectory as investors seek safe-haven assets. Meanwhile, oil prices have appreciated sharply following heightening concerns regarding disruptions to Iranian crude exports amidst escalating social destabilisation.