Wall Street stocks edged slightly lower from record highs on Friday in thin, post-holiday trading, while precious metals extended their year-long rally, with both gold and silver reaching fresh all-time highs. Silver climbed above $75 an ounce for the first time, while gold also pushed to a new record. The surge reflected heightened geopolitical uncertainty, including ongoing US military and economic pressure on Venezuela, alongside broader global risks.
Precious metals have rallied strongly throughout 2025, supported by uncertainty surrounding US policy under President Donald Trump and expectations of further Federal Reserve interest rate cuts. These factors have weakened the US dollar, boosting demand for metals as safe-haven assets.
Trading volumes were light in New York following the Christmas holiday, with major indices moving sideways for much of the session. All three benchmarks closed marginally lower, with the Dow Jones Industrial Average and the S&P 500 ending just below the record levels set earlier in the week. Despite the modest pullback, market sentiment remains positive heading into the final trading days of the year. Stocks often rise during the late-December period, a seasonal trend commonly referred to as the “Santa Claus rally.”
“We’ve had a good week, and with the weekend ahead and light trading expected next week, some investors are likely taking profits,” said Sam Stovall of CFRA Research. “But I still think we’re going to end the year on a high note.”
Asian markets mostly advanced on Friday, with gains in Tokyo, Shanghai, Seoul, and Taipei, while markets in Hong Kong, Australia, and much of Europe were closed for holidays. Oil prices fell more than two percent as investors looked ahead to a scheduled meeting on Sunday between President Trump and Ukrainian President Volodymyr Zelensky to discuss peace proposals. Russia expressed skepticism ahead of the talks, with Deputy Foreign Minister Sergei Ryabkov accusing Ukraine and its European allies of attempting to undermine a US-brokered plan.
In New York, the Dow Jones closed down less than 0.1 percent at 48,710.97, the S&P 500 fell less than 0.1 percent to 6,929.94, and the Nasdaq dropped 0.1 percent to 23,593.10. In Asia, Tokyo’s Nikkei 225 rose 0.7 percent to 50,750.39, while the Shanghai Composite edged up 0.1 percent to 3,963.68. The dollar strengthened to 156.50 yen, the euro traded at $1.1776, and the pound slipped to $1.3501. Oil prices fell as well, with West Texas Intermediate crude down 2.8 percent at $56.74 per barrel and Brent North Sea crude down 2.6 percent at $60.64 per barrel.
Source: AFP
Bd-pratidin English/ Jisan
