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Gold returns to top off the best year for over 40 years
The market focused on geopolitical and economical risks as it refocused precious metals. Gold's rally was reignited to end its best year in 1979. At 9:56 am, spot gold was up 0.8% at $4,365.86 an ounce. ET (1456 GMT). It recorded its largest daily percentage loss since November 21 as it was pushed down from the record high of $4,49.71 on Friday by profit taking. U.S. gold futures were up 0.8% to $4,380.10. "We experienced extreme volatility yesterday, with strong trading in Asia to the upside, followed by substantial profit-taking... But things have stabilized somewhat today and the trade remains generally favorable," said Peter Grant. The gold price, which is viewed as a safe-haven asset, has risen 66% since 2025, its steepest rise since 1979. This was fueled by a perfect storm of interest rate easings, geopolitical flashpoints, central bank purchases and a surge in bullion-backed ETFs. The U.S. Federal Reserve will release the minutes of its meeting in December later on Tuesday. The traders see two rate reductions next year. This could be a scenario which keeps the wind in gold's sails. Grant said that the market is still sceptical about the Russia-Ukraine deal and the geopolitical risks are high. This has supported the prices. Russia has accused Ukraine of attempting to attack the residence of President Vladimir Putin and promised retaliation. This will dent prospects for a peaceful peace agreement. Ukraine denied the claim. Silver rose by 4.6%, to $75.523 per ounce. It reached an all-time peak of $83.62 before recording its largest daily decline since August 2020. Analysts at Societe Generale pointed out that the CME raised its initial margin requirements for silver futures last Friday. Silver prices have risen 161% in the past year due to its inclusion on the U.S. Critical Minerals List, supply shortages, and increasing industrial and investor demand. Platinum increased 4.5%, to $2203.07 an ounce. Platinum also reached a record-high on Monday of $2,478.50 before experiencing its largest-ever drop in a single day. Palladium increased 2% to $1,648.75 after falling by around 16% Monday. ? (Reporting by Anjana Anil in Bengaluru; Editing by Susan Fenton)
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Gold returns to its best year since 1979
Gold and other precious metals prices rebounded on Tuesday from the sharp drop in the previous session as investors shifted their attention to persistent global risks, which have propelled gold bullion's strongest annual performance for more than 40 years. By 1311 GMT, spot gold had risen 1.6% to $4,398.94 per ounce. It posted its largest daily percentage loss for more than two month on Monday, a retreat away from Friday's high of $4,549.71. Analysts blamed this decline on profit-taking. U.S. Gold Futures rose 1.7% to $4,415.50. The selloff yesterday was a result of profit-taking and repositioning for the New Year. Buyers are likely to return as structural conditions of this rally, a weaker U.S. Dollar and geopolitical uncertainties continue. Bullion has risen by 66% in the past year, its largest annual gain since 1979. This is due to a combination of monetary easing and geopolitical tensions. The Federal Reserve will publish the minutes of its December meeting on Tuesday. Traders are pricing in two rate reductions next year. When interest rates are low, non-yielding investments tend to do well. Russia has accused Ukraine of attempting to attack the residence of President Vladimir Putin and promised retaliation. This is a blow to any peace talks. Silver increased 5.7% to $76.34 per ounce. It reached a record-high of $83.62 before recording its largest daily?drop in August 2020. Analysts at Societe Generale pointed out that the CME group raised its initial margin requirements for silver futures on Friday. CME Group increased the amount of security deposits that traders must maintain with the COMEX Silver Futures exchange by 13.6%, to $25,000 per contract. Silver prices have risen by 159% in the past year due to its inclusion on the U.S. Critical Minerals list, supply deficits, and increasing industrial and investor demand. Platinum rose by 5%, to $2214.15 per ounce. Platinum also reached a new record on Monday when it touched $2,478.50, before experiencing its largest one-day decline. Palladium is up 2.1% at $1,651 per ounce following a 16% drop on Monday.
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Silver stabilizes after dip; stocks poised for strong year-end
Investors tallied bumper gains as they counted down to the end of the year. Silver and gold also found their feet after a sharp drop from record highs slowed their searing rally. The STOXX 600 index, the benchmark for all European markets, reached a new?peak. U.S. stocks appeared to be set to continue their decline from the highs of last week. The oil prices continued to rise overnight as Russia claimed that Ukraine had attacked the residence of President Vladimir Putin. Although Moscow did not provide any evidence to support its claims, the U.S.'s efforts to broker peace are hampered. Saudi Arabia also carried out an airstrike in Yemen, escalating the tensions between the United Arab Emirates and Saudi Arabia, two major players within the OPEC group of oil exporters. China conducted 10 hours of live firing exercises around Taiwan, Tuesday, adding to the global geopolitical tensions. President Donald Trump stated that he would support another major attack on Iran. GOLD AND SILVER? BOUNCE BACK! On track for big annual gains Silver and other precious metals experienced volatile price swings over the weekend due to a lack of liquidity across most markets. Silver, which had just hit a record of $84 an ounce, fell 8.7%, the largest one-day drop since August 2020. Gold and copper also dropped with it. White metal rose 2.5% to $74.1 an ounce on Tuesday and is still on course for a 156% annual gain. Gold gained 0.7%, to $4,361 an ounce after falling 4.4% overnight. Tony Sycamore is an analyst with IG in Sydney. He said that the initial gap in the price of silver could be attributed to stop losses, panic buying, and price action. The move was short-lived, as no buyers were willing to step in at these high levels. "I don't believe this trend is over, even though we've seen a cooling of the precious metals. We still got deficits. We still got nation stockpiling. "We have export restrictions," Sycamore stated. This generational bubble has ended? Not sure. "Jury's out on that one." The STOXX Europe index rose 0.39% to record highs. MSCI's broadest Asia-Pacific share index outside Japan grew by 0.1%, and is on track to achieve a gain of 26.7% for the year. This is its best performance in years. Japan's Nikkei fell 0.1%, but it was still up 26.7% for the year. U.S. futures are flat or slightly lower. Overnight, Wall Street ended lower after heavyweight technology shares retreated following last week's gains. Even so, U.S. stock prices are still on track to finish 2025 at record highs. They have notched double-digit increases in a turbulent year marked by tariff wars, central banking policy, and simmering geopolitical conflicts. "Financial Conditions are Easy." Guy Miller, chief market strategist at Zurich Insurance Group, said that we will also get fiscal stimulus from the major economies in the first half 2026 - Japan China Germany and the United States. This is supportive for the markets. This allows for equities to perform well. Corporate earnings will be decent through 2026, if not more, due to the good state of the global economy. DOLLAR'S BAD YEA The U.S. Dollar was stable on the currency markets ahead of the Federal Reserve minutes for the December meeting. These are expected to show a central bank divided and unsure about its policy direction?next. The dollar index is expected to decline by almost 10% this year, the steepest annual drop in eight years. The yen was hovering at?155.85 to the dollar, a little way from the 158-160 range that could prompt intervention by Japanese authorities. The euro is at $1.1775 and on track for a 13.7% gain this year. The prospect of further rate cuts in the United States next year has weighed heavily on the U.S. Dollar and helped Treasuries to rally, particularly at the short end. The yields on two-year bonds fell one basis point, to 3.4586%. This is the fourth consecutive session that they have fallen. They are down nearly 80 basis points for the year. The 10-year bond yield will drop by 46 basis points annually. After a gain of over 2%, oil prices remained largely stable on Tuesday. Brent crude futures held steady at $61.92 per barrel after gaining 2.1% on Sunday, while U.S. West Texas intermediate crude fell 0.1% to $58.01 per barrel.
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Gold recovers from a two-week low after thin trading sparks volatile movements
The price of gold rose on Tuesday after a sharp drop in the previous session. Thin 'year-end' trade exacerbated volatility. Traders expect fundamental factors to drive precious metals up to new heights by 2026. As of 0541 GMT on Monday, spot gold was up by 1.1% to $4,378.29 an ounce after reaching a record-high of $4,549.71 last Friday. On Monday, it fell to its lowest level since December 17, marking the sharpest percentage decline since October 21. U.S. Gold Futures for February Delivery were up by 1.1% to $4,392.0/oz. Kyle Rodda is a senior analyst with Capital.com. He said: "The fact that we have had such a substantial selloff since Monday's open... just goes to show the significant volatility, probably compounded because of thinner trading conditions due to the holiday season." On Monday, the relative strength indexes for gold and silver both fell from a state of 'overbought.' Bullion has risen 66% in 2025. Gold's rise this year has been fueled by a number of factors, including interest rate cuts, bets on further U.S. policy ease, geopolitical conflict, central bank demand, and increased holdings of exchange-traded fund. The traders expect the U.S. to cut rates at least twice next year. In a low-interest rate environment, non-yielding investments tend to perform well. Silver spot was up 3.7% to $74.85 an ounce after reaching a record high of $83.62 the previous session. On Monday, silver posted its largest daily loss since August 11, 2020. Metals like copper and zinc have seen a 154% increase in value year-to date, outpacing gold. This is due to their inclusion on the U.S. critical minerals list, low inventories, and supply constraints. Kelvin Wong is a senior market analyst at OANDA. He said: "I expect the longer-term rally for both gold & silver to continue, with price targets for the next six month at $5,010/oz gold and $90.90 silver." Spot platinum increased 3.1%, to $2174.91 an ounce. It dropped the most in a single day after reaching an all-time record high of $2478.50 on Monday. Palladium dropped 16% in value on Monday, and its price fell 0.2%, to $1,614.0 an ounce. Ishaan arora, Rashmi aich, Harikrishnan Nair, and Sonia Cheema edited the article.
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Silver, gold stabilized after sharp decline
Investors counted "bumper gains" heading into the year-end trading, while gold and silver found their feet after a sharp drop from record highs?took a little froth out of precious metals' searing rise. The oil prices held on to their gains overnight as Russia accused Ukraine of attacking the residence of President Vladimir Putin. Although Moscow did not provide any evidence to support its claims, this is a blow for U.S. peace efforts. Donald Trump also added to the global geopolitical tensions when he said that he would support another major attack on Iran. China began a 10-hour live-firing exercise around Taiwan on February 2. Silver and other precious metals experienced volatile price swings over the weekend due to a lack of liquidity across most markets. Silver fell 8.7% after hitting a record of $84 an ounce. This was the largest one-day drop since August 2020. It brought gold and copper with it. The white metal rose 2.5% on Tuesday to $74.1 an ounce, and is still on course for a 156% annual gain. Gold gained 0.7%, to $4,361 an ounce after falling 4.4% overnight. Tony Sycamore is an analyst at IG Sydney. He said that the initial gap in the price of silver was probably due to stop losses, panic buying, and the Chicago Mercantile Exchange increasing margin requirements. The move was short-lived, with no buyers at these high levels. "We have seen a cooling of the precious metals, but I do not think that this trend is over. We still got deficits. We still got nation stockpiling. "We have export restrictions," Sycamore said. This generational bubble has ended? Not sure. "Jury's out on that." The MSCI broadest index of Asia-Pacific stocks outside Japan, which includes Japan, rose 0.1% on Tuesday and is set to achieve a gain of 26.7% for the year, its best performance in 2017. The Nikkei 225 index of Japan shares fell 0.1%, but it was still up 26.7% for the year. Hong Kong's Hang Seng index rose by 0.4%, while China's blue chip index rose by 0.2%. In Asia, all U.S. stock futures and European stock futures were largely unchanged. Wall Street?finished down overnight as heavyweight tech stocks retreated after last week's gains. Even so, U.S. stock prices were still on track to finish 2025 at record highs after a turbulent year marked by tariff wars and central bank policy, as well as simmering geopolitical conflicts. DOLLAR?S?BAD YEAR The dollar was stable on the currency market ahead of the Federal Reserve minutes for the December meeting, which are expected to show a central bank that is divided and unsure about its policy direction next year. The dollar index is set to experience its biggest annual drop in eight years, a decline of almost 10%. The yen was hovering at?156.06 to the dollar, a little away from the 158-160 range that could prompt intervention by Japanese authorities. The euro was at $1.1777 and on track for a 13.7% gain this year. The U.S. Dollar has been impacted by the prospect of further rate cuts next year and this has helped Treasuries to rally, particularly at the short end. The yield on two-year bonds fell 1 basis point, to 3.4586%. This is the fourth consecutive session that they have fallen. They were down nearly 80 basis points for the year. The 10-year bond yield was set to drop by 46 basis points annually. After a gain of over 2%, oil prices remained largely stable on Tuesday. Brent crude futures were unchanged at $61.92 per barrel after a 2.1% increase on Monday. U.S. West Texas intermediate crude fell 0.1% to $58.01 per barrel.
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Investors seek clarity over Russia-Ukraine negotiations, but oil prices remain unchanged
Tuesday's oil prices were unchanged after a rise of over 2% the previous day. Investors sought clarification on Ukraine peace negotiations to gauge potential supply disruptions. Brent crude futures, for delivery in February, expiring on Tuesday, fell 2 cents to $61.92 per barrel at 0314 GMT. The March contract, which is more active, was down 5 cents at $61.44. West Texas Intermediate crude oil in the United States fell 5 cents to $58.03. Brent and WTI benchmarks closed more than 2% higher the previous session, after Moscow accused Kyiv that it was targeting President Vladimir Putin's residence. This stoked fears of supply disruptions. Kyiv dismissed Moscow's accusations as baseless, and meant to undermine the?peace talks. Donald Trump, the U.S. president, said that he was angry by the details of a?alleged attack after a telephone call with Putin. Oil prices could be affected by the escalating geopolitical conflicts, even though Trump has repeatedly stated that a peace deal is near. Ed Meir, Marex analyst, said: "I believe the markets sense that a deal will be difficult to achieve." The Middle East was also a concern for traders after Trump stated that the United States would support a major strike against Iran if Tehran re-built its ballistic missile or nuclear weapons program. Trump warned the Palestinian militant group Hamas that it would suffer severe consequences if they did not disarm. He also said he wanted to "move on to the second phase" of the ceasefire agreement between Israel and Hamas, which was reached in October following a 'two-year war in Gaza. Analysts say that despite increased fears of supply disruptions caused by geopolitical tensions there is still a perception of an "oversupplied" global market, which could limit prices. Marex's Meir?said that prices would be trending downwards in 2026 because of a "growing glut of oil." "Given crosscurrents between?U.S. led peace efforts, persistent oversupply worries versus simmering tensions in geopolitical affairs - we expect WTI will continue to trade at $55-60 in the near-term," IG analysts stated in a Tuesday note. (Reporting from Anushree mukherjee, Bengaluru; Sudarshan Varadhan, Singapore; Editing by Shri Navaratnam & Kate Mayberry).
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Iron ore prices fall as shipments increase
The price of iron ore futures fell on Tuesday as increased shipments by major suppliers Australia and Brazil dampened sentiment. However, lingering hope that steelmakers in China, the top consumer, would restock their cargoes, limited the losses. The May contract for iron ore on China's Dalian Commodity Exchange closed morning trade at 790.5 Yuan ($112.92) per metric ton, a decrease of 0.25%. On?Monday, the contract reached its highest level since December 3. By 0417 GMT, the benchmark January iron ore at the Singapore Exchange had fallen by 0.22% to $105.55 per ton. In the previous session, it reached its highest level since November 27 at $106.55. Data from Mysteel, a consultancy, showed that iron ore shipments to Australia and Brazil, two of the world's largest suppliers, increased 8.6% in a week during December 22-28. Analysts predict that Chinese steel mills will book more cargoes over the next few weeks to cover production requirements during the Lunar New Year break, which lasts a week in February. Analysts say that Chinese developer Vanke has received approval from its bondholders to extend the grace period on the repayment of the 3.7 billion yuan loan, thereby removing the risk of default. The property market in China was the biggest steel consumer, but long-term?problems in this sector weighed on steel consumption and feedstock prices. Coking coal and coke, two other?steelmaking components, gained a lot of ground on the DCE. Steel benchmarks at the Shanghai Futures Exchange have been moving sideways. Rebar gained 0.16%, while stainless steel gained 1,55%. Hot-rolled coils slipped 0.06%, while wire rods fell by 1.59%.
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Silver recovers from a two-week low and gold bounces back
On Tuesday, gold rose to recover from a two week low that was hit the previous session. This is due to a 'profit-taking at year-end which sparked a wide pullback of precious metals. As of 0322 GMT spot gold was up by 0.7% to $4,363.79 an ounce after reaching a record-high of $4,549.71 last Friday. On Monday, it fell to its lowest level since December 17, and also suffered its biggest daily loss?since October 21, U.S. Gold Futures for February Delivery were up 0.8% to $4,377.80/oz. Kelvin Wong is a senior market analyst with OANDA. He said that the earlier run was overextended within the last week. This makes the precious metals more vulnerable to the leveraged positions being squeezed at the bottom. On Monday, the relative strength indices (RSIs) for gold and silver both fell from their overbought levels. Bullion is on a stellar rise in 2025. It has already risen 66%. Gold's rise this year has been fueled by interest rate cuts, bets on further easing from the U.S. Federal Reserve and geopolitical conflict, strong demand from central bankers, and increasing holdings in exchange traded funds. The traders expect two rate cuts at least next year. In a low interest rate environment, non-yielding investments tend to perform well. Silver spot was up 3% to $74.41 an ounce after reaching a record high of $83.62 the previous session. On Monday, silver registered its biggest daily loss since August 11 2020. Silver is up 154% in the past year, outpacing gold. This has been attributed to its inclusion on the U.S. critical minerals list, low inventories, and supply constraints. Wong said, "I expect the longer-term rally for both gold and silver to continue with price targets of $5,010/oz gold, and $90.90 silver in the next six month." Spot Platinum increased 1.1% to $2132.86 an ounce. It dropped the most ever in one day on Monday after reaching an all-time record high of $2478.50. Palladium rose 1.1%, to $1,634.29 an ounce after it dropped 16% in value on Monday. (Reporting and editing by Rashmi aich, Harikrishnan Nair, and Ishaan arora)
EXPLAINER-What's next after Biden blocked the $15 bln Nippon Steel/US Steel deal?
U.S. President Joe Biden blocked Nippon Steel's proposed $14.9 billion purchase of U.S. Steel pointing out national security concerns, in a potentially fatal blow to the deal after a yearlong evaluation.
Biden, President-elect Donald Trump and a prominent labor union opposed the effort by Japan's leading steelmaker to get the iconic American firm, which would have produced the world's. third-largest steelmaker, according to World Steel Association. information.
The course forward is unclear. The companies might take legal action against the. U.S. government, another buyer could swoop in for U.S. Steel, or. Republicans who prefer the deal might urge Trump to find a method to. approve it.
Here is what might come next:
THE DEAL ITSELF
The proposed offer has actually not yet been ended by the. companies even after Biden obstructed the offer.
In a joint declaration, Nippon and U.S. Steel called. Biden's choice illegal, and Nippon Steel might submit a claim. against the U.S. federal government challenging the treatments behind. the decision, Japan's Nikkei company daily reported on. Saturday.
David Burritt, U.S. Steel's president, said on Friday. we mean to combat President Biden's political corruption.
Some legal representatives, such as Nick Wall, M&A partner at Allen &&. Overy, have said a legal difficulty would be difficult.
Nippon Steel argued it made many concessions, consisting of. providing to move its head office to Pittsburgh, to satisfy the. demands of CFIUS, the Committee on Foreign Financial Investment in the. United States, the panel that decides on whether foreign. purchases of U.S. business must move forward.
CFIUS was divided over a decision and did not make a. recommendation on the offer.
If they litigate most of the choices by the. numerous CFIUS agencies will be revealed, stated Brett Lambert,. a former senior Pentagon authorities under Barack Obama, pointing out the. uncommon relocate to forward a split choice to the president.
If the deal does not go through, Nippon Steel would have. to pay a $565-million split cost.
U.S. STEEL'S FUTURE
Pittsburgh-based U.S. Steel had actually warned that mills could. close and thousands of jobs would be at risk without the offer. U.S. Steel's revenues have dropped for 9 straight quarters. in the middle of a global market downturn, but it still sports a forward. price-to-earnings ratio of 12.87, more costly than U.S. peers, according to LSEG information.
The United Steelworkers union, which opposed the deal,. has actually called the company's cautions unwarranted, stating Friday that. it is clear that U.S. Steel's recent monetary performance programs. it can easily remain a strong and durable company.
Other suitors might emerge. U.S.-based Cleveland-Cliffs. , which previously bid for the business, might return. with a lower deal. However, its market value is now smaller sized. than that of U.S. Steel.
One would think that Nucor and Cleveland. Cliffs will be in discussions with U.S. Steel, however based on. governmental messages one would think the U.S. federal government may. pertained to its help and buy its facilities, said Jay. Woods, chief global strategist at Liberty Capital Markets.
TRUMP'S POSITION
Trump, who takes workplace on Jan. 20, has consistently sworn to. obstruct the sale, a view he showed Biden.
I am absolutely against the as soon as excellent and effective U.S. Steel. being bought by a foreign company, in this case Nippon Steel of. Japan, he composed on his Reality Social platform last month. As president, I will obstruct this offer from occurring. Purchaser. Beware!!!
Trump's transition group did not talk about Friday. However,. numerous existing and former Republican officeholders on Friday. slammed Biden's decision, stating it would cost investment in. the U.S.
U.S.-JAPANESE RELATIONS
Some experts warned that obstructing the deal might sour. relations between the United States and Japan, which Biden had. worked on enhancing to counter the threat of China's economic. and military increase.
Japan is the leading U.S. investor in the U.S. and its. most significant business lobby has raised issues about political. pressure on the offer, a view the White Home declined.
It would have assisted us restore our competitiveness and. counter China. To do this effectively, we require our friends,. especially Japan, Wendy Cutler, who functioned as a senior trade. mediator under former President Barack Obama, wrote on social. media platform X.
Trump's stance on trade could contribute to that anxiousness when he. go back to office, as he has actually currently threatened heavy tariffs on. essential allies Canada, Mexico and Europe.
(source: Reuters)