Hong Kong – Traders took it easy Tuesday as the year comes to a close, with precious metals giving back some of their recent gains and stock markets showing mixed moves ahead of the New Year.
Gold and silver, after hitting record highs earlier this month, saw a pullback on profit-taking. Gold dipped to around $4,340 per ounce from a peak near $4,550, while silver retreated to $73.50 from $84. Investors had piled into metals this year, betting on more U.S. rate cuts, a weaker dollar, and ongoing geopolitical tensions. Central bank buying and supply concerns also supported silver’s gains, which surged roughly 150% over 2025.
Stock markets were mixed in quiet trading. Tokyo’s Nikkei fell 0.1% to 50,465, Shanghai dropped 0.3% to 3,954, while Hong Kong rose 0.2% to 25,675. Sydney, Taipei, Singapore, Wellington, and Jakarta saw small gains or losses. Wall Street ended lower on Monday, contributing to the cautious tone in Asia.
Oil prices eased slightly after jumping more than 2% on Monday amid uncertainty over peace talks between the U.S. and Ukraine. Brent crude fell to $61.75 per barrel and West Texas Intermediate to $57.91. The brief rallies came on hopes that the nearly four-year conflict might ease, which could release additional Russian oil to the market.
Bitcoin, which peaked above $126,000 in October, stabilized just below $90,000, reflecting the quiet year-end trading and profit-taking in the crypto market.
Traders are also awaiting the Federal Reserve’s release of minutes from its latest policy meeting, following three interest rate cuts in a row this year. The markets will be looking for clues on whether a fourth cut is on the way in January.
2025 has been a strong year overall for global markets. Tech stocks pushed indices to record highs, and major Asian markets enjoyed big gains — Seoul’s Kospi jumped more than 75% and Tokyo’s Nikkei gained over 25%. Yet the year-end calm shows investors are taking profits and pausing ahead of 2026.
