U.S. stock index futures fell, precious metals declined across the board, spot silver surged and then fell sharply by 6% during the day, palladium dropped more than 11%, and WTI crude oil rose over 1%.

U.S. stock index futures fell, precious metals declined across the board, spot silver surged and then fell sharply by 6% during the day, palladium dropped more than 11%, and WTI crude oil rose over 1%.

As the year-end rally unfolds, technology and industrial sectors boost Eurasian stocks. The metals market has experienced dramatic volatility, with silver prices historically surging past $80 per ounce for the first time before retreating, and London copper rising over 6% to a new record high. On December 29, US stock index futures slipped slightly, while most Eurasian stock indices rose. US Treasury yields were mostly unchanged, Japanese 40-year government bond yields increased. The dollar was basically flat, the Korean won strengthened, and the Thai baht had its largest one-day drop against the dollar in seven months. Various metals pulled back after surging, with spot silver breaking through the $80/oz mark before retreating, spot gold falling below $4,500/oz, spot palladium plunging over 11%, London copper soaring over 6% to a historical high, and crude oil rising. Cryptocurrency prices climbed, with Bitcoin briefly breaking above $90,000. Precious metals have become the market's focal sector, driven mainly by several structural factors resonating together: global central banks’ continued and unprecedented gold buying, significant net capital inflows into investment tools like ETFs, and the low interest rate environment created by the Federal Reserve's turn to a more dovish monetary policy. Since precious metals themselves do not generate interest income, the decline in real interest rates has significantly reduced their holding costs, enhancing their appeal as non-interest assets. Currently, market trading logic has further extended to pricing the rate cut path through 2026, with investors seeing precious metals as a core tool for hedging against future liquidity expansion and potential inflation risk. Key market moves are as follows: - Dow futures were flat, S&P 500 futures fell over 0.1%, Nasdaq futures fell over 0.2%. - The Euro Stoxx 50 index opened up 0.4%, the German DAX rose 0.4%, the UK FTSE 100 was flat at open, France's CAC 40 index rose 0.3%. - Japan's Nikkei 225 closed up 0.4% at 50,526.92 points, TOPIX closed up 0.1% at 3,426.52 points, South Korea's KOSPI closed up 2.2% at 4,220.56, the highest close since November 3; Samsung Electronics closed up 2.14%, SK Hynix up 6.84%, both setting all-time closing highs. - The 10-year US Treasury yield was basically unchanged at 4.13%, Japanese 40-year government bond yield rose 6 basis points to 3.65%. - The Korean won hit its highest intraday level in nearly two months. US dollar against the won once fell 0.9% to 1429.25, lowest since November 3; Thai baht had its largest single-day drop against the dollar in seven months. - Spot silver dropped 6.0% intraday to $74.58/oz, after breaking through $80 earlier at a record high; spot gold fell 1.1% to $4,483.53/oz; London copper jumped more than 6% to a record high; spot palladium plunged over 11%, now at $1,726.23/oz; WTI crude oil rose 1.5% intraday to $57.67/barrel. - Bitcoin rose nearly 2% to $89,581, Ethereum rose 3.3% to $3,032.46. US stock index futures are under pressure as markets await the release of the Federal Reserve meeting minutes this week. Spot silver surged nearly 6% in the early session, approaching $84/oz before plunging, dropping over 5.7% intraday to $74.78/oz. According to Wallstreetcn, as spot silver staged a rollercoaster early Monday, rumors circulated on overseas social media that a systemically important bank had been forced to close out short silver futures positions after failing to pay an additional $2.3 billion margin, and the Federal Reserve urgently injected $3.4 billion for market rescue. Some speculate the party involved is a major European bank. Analysis shows that even if true, given a major European bank's $330 billion liquidity reserve, the $7.75 billion funding gap is manageable and “unlikely to cause bankruptcy,” but caution is warranted as the market could follow a “sell now, ask later” panic logic. Driven by concerns about tightening supply, London copper surged over 5%, approaching $13,000 at one point for a new historical high. The continuous price escalation is partially fueled by strong sentiment in precious metals spilling over to industrial metals. Amid ongoing geopolitical risks, international oil prices edged up. Although talks between Trump and Zelensky on a peace agreement reportedly made “significant progress,” the final deal will take several weeks and has no clear timeline, so the market remains cautious about the outlook, lending support to oil prices. Bitcoin rose nearly 2%, close to $90,000, briefly breaking that level during the Asian trading session. Sebastian Bea, CIO of crypto asset management company ReserveOne, said Monday’s rally “seems to be partly driven by short-term retail traders, whose futures market positions continue to increase.” Risk Warning and Disclaimer The market carries risks, and investment requires caution. This article does not constitute personal investment advice, nor does it take into account the individual investment objectives, financial situation, or needs of any particular user. You should consider whether any opinions, views, or conclusions in this article fit your own circumstances. Investing based on this article is your own responsibility.