Stocks Hold Gains While Precious Metals Fluctuate – Asia Market Wrap

Global stocks held gains from a record-breaking run fueled by artificial intelligence that’s helped markets rebound from an April slump sparked by tariff concerns. Volatility gripped precious metals such as silver, which rose to another all-time high.

The MSCI All Country World Index – one of the broadest measures of the equity market – was steady after climbing 1.4% last week to a fresh peak as a much-expected year-end rally took hold. A gauge of Asian shares advanced 0.3% for a seventh straight day of gains, boosted by tech names and miners. US equity-index futures edged lower after the S&P 500 finished near its peak on Friday.

Silver gyrated after smashing through $80 an ounce for the first time amid a historic surge powered by speculative trades and a persistent mismatch between supply and demand. Gold was lower after reaching a new peak in the previous session, while copper jumped more than 6% to hit a record on the London Metal Exchange.
In geopolitical news. President Trump said he made “a lot of progress” in talks with Ukrainian President Zelenskiy over a possible peace deal, but that it might take a few weeks to get it done and there’s no set timeline.

Elsewhere in markets, oil was higher on prospects for improved Chinese demand in 2026. It is still on track for a fifth monthly drop in December, which would be the longest losing streak in more than two years. Bitcoin rallied about 3% while a gauge of the dollar was steady.