Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
Gold prices soared to unprecedented levels on Wednesday, breaking above the $4,800 per ounce mark as intensifying geopolitical tensions and renewed trade uncertainty rattled global financial markets. Investors flocked to safe-haven assets, pushing bullion to yet another record high amid concerns surrounding U.S.-Europe relations, trade disputes, and currency weakness.
Spot gold jumped 1.7% to reach a fresh all-time high of $4,844.39 per ounce late Wednesday, extending a powerful rally that has seen gold prices notch multiple record highs this month alone. U.S. gold futures also climbed, gaining 1.3% to trade around $4,830.04 per ounce. Overall, gold prices have surged more than 5% this week, underscoring strong investor demand for the precious metal.
The latest rally in gold was largely driven by escalating tensions linked to Greenland’s strategic importance. U.S. President Donald Trump reiterated that there is “no going back” on Greenland, citing security concerns in the Arctic region, while also threatening potential tariffs against European countries. These comments unsettled markets already grappling with broader global trade risks. European leaders pushed back, with French President Emmanuel Macron emphasizing that cooperation and mutual respect should define alliances, rejecting what he described as coercive tactics. His remarks at the World Economic Forum in Davos highlighted growing unease in Europe over Washington’s rhetoric.
Although Trump later attempted to reassure investors by stating that the U.S. was working toward a NATO-friendly solution, market sentiment remained cautious. Adding further support to gold prices was a notable decline in the U.S. dollar. The dollar index slid roughly 0.8% on Tuesday to a two-week low and remained under pressure during Asian trading on Wednesday. A weaker dollar typically boosts gold demand by making it more affordable for buyers using other currencies.
Other precious metals showed mixed performance. Silver prices eased slightly to around $93.90 per ounce after hitting a record high earlier in the week, while platinum touched a new all-time high above $2,500 before trimming gains. Overall, rising geopolitical risks, trade tensions, and a softer dollar continue to reinforce gold’s appeal as a safe-haven investment.
