Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Asian Stock Markets Start New Year Higher as Tech and AI Shares Drive Gains 
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
Gold prices soared to an unprecedented level above $4,100 per ounce in Asian trading on Tuesday, driven by renewed geopolitical tensions between the United States and China. Investors turned to safe-haven assets amid escalating uncertainty in global markets, pushing both gold and silver to fresh record highs.
Spot gold climbed 1.3% to $4,164.80 per ounce by 00:17 ET (04:17 GMT), after briefly touching an all-time high of $4,169.66 earlier in the session. U.S. gold futures followed suit, advancing 1% to $4,175.92.
The rally came after former U.S. President Donald Trump announced plans to impose a 10% tariff on Chinese imports, retaliating against Beijing’s restrictions on critical mineral exports used in electronics and defense manufacturing. However, Trump later softened his tone, assuring on social media that the U.S. “was not seeking any harm to China.”
Despite the initial tension, signs of potential diplomacy emerged. Treasury Secretary Scott Bessent confirmed that a meeting between Trump and Chinese President Xi Jinping is still scheduled later this month in South Korea. Meanwhile, China’s Ministry of Commerce stated that working-level discussions with U.S. counterparts are ongoing, though it vowed to “fight till the end” against what it described as unfair measures.
The combination of conflicting political signals and a weakening U.S. dollar further boosted bullion demand. Analysts noted that the uncertainty surrounding trade relations and economic stability continues to drive investors toward precious metals.
Silver also surged 2% to $53.47 per ounce, reaching a new record high, while platinum futures gained 1.2% to $1,704.55. With market volatility likely to persist, analysts expect gold to remain a top safe-haven asset in the near term.
