Silver and Gold Prices Rally; Stocks Hold Near Records

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The year’s run-up successful precious metals broke caller crushed connected Friday, portion U.S. stocks held adjacent to all-time highs.

Most-active metallic futures were up 4.5% astatine astir $75 a troy ounce, aft earlier hitting a caller intraday record. A runaway rally successful silver, which has much than doubled successful terms this year, has swept up amateur investors. Equivalent contracts for golden futures besides deed records, rising arsenic precocious arsenic $4,562 a troy ounce.

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Escalating geopolitical tensions apt bolstered gold, which is viewed arsenic a haven asset. The U.S. staged a Christmas Day onslaught connected Islamic State successful Nigeria, and has blockaded sanctioned lipid tankers entering and exiting Venezuelan waters. WTI crude futures, the U.S. lipid benchmark, are up astir 3% truthful acold this week, connected gait for their champion play gains successful 2 months.

U.S. banal indexes crept little successful bladed trading. The large gauges roseate for a 5th consecutive league connected Christmas Eve, with some the S&P 500 and the Dow industrials closing astatine records. Typically, stocks emergence successful the play spanning the past 5 trading days of the twelvemonth and the archetypal 2 of the next, successful what is sometimes termed a Santa Claus Rally.

On Friday, miners specified arsenic Southern Copper and Freeport-McMoRan rose, bolstered by higher metallic prices. Nvidia banal gained 1.5% aft the spot shaper precocious Wednesday unveiled a licensing woody with Groq, a semiconductor startup.

Shares of Coupang, South Korea’s e-commerce rival to Amazon, jumped 10% aft skidding successful caller weeks. The lawsuit accusation leaked successful a monolithic cybersecurity breach has been deleted by the suspect, according to media reports.

Biohaven’s banal dropped 4% aft the biopharmaceutical institution said an antidepressant cause campaigner missed its main extremity successful a study.

Numerous banal markets successful Europe and Asia-Pacific remained closed connected Friday, including successful the U.K. and Hong Kong.

The Japanese yen slipped against the dollar aft information showed Tokyo user prices roseate much dilatory than expected successful December, but held supra the Bank of Japan’s target. Japan’s furniture approved a record-high archetypal fund for the adjacent fiscal year.

Write to Katy Barnato astatine [email protected]