## Precious Metals Surge, US Stocks Hit New Highs: Four Market Signals on Christmas Eve

As the Christmas holiday approaches, the global financial markets are unusually active. The prices of gold, silver, and copper have collectively hit new highs, driven by a trifecta of geopolitical tensions, supply shortages, and capital seeking safe havens.

### Gold, Silver, and Copper Lead the Rally, Safe-Haven Capital Flows In

The precious metals market is astonishing. Gold prices surged to $4,525 per ounce, silver reached $72.65 per ounce, and platinum hit $2,378 per ounce, all setting historical records. The driving forces are threefold: escalating geopolitical tensions prompting investors to seek safe-haven assets, ongoing tightness in global supply chains, and strong investment demand.

Copper in London is even more remarkable. After breaking through the $12,000 mark yesterday, it continued to rise, currently at $12,213, up 0.96%. The logic behind the copper price increase is clear: on one hand, expectations of Trump tariffs have prompted traders to buy copper shipped to the US, leading to a surge in import demand; on the other hand, mines in the Americas, Africa, and Asia have halted production, expanding supply gaps and intensifying global competition for copper.

### US Stocks Close Early, Market Sentiment Remains Optimistic

Due to the Christmas holiday, US markets closed three hours early on December 24. The three major index futures opened slightly lower: Dow futures down 0.07%, S&P 500 and Nasdaq 100 futures down 0.09%. Individual stocks showed mixed performance, with Nvidia (NVDA) down 0.29%, and Tesla (TSLA) up 0.21%.

However, these short-term fluctuations do not obscure the long-term trend. The S&P 500 closed at 6,909 points yesterday, reaching a new all-time high. Goldman Sachs remains confident about the future, believing that global stock markets have entered a bullish phase, with earnings expected to sustain the rally through 2026. Including dividends, the total return could reach 15%. Asian stock markets generally rose today, in sync with this trend.

### Australian Dollar Rises Fiercely, Rate Hike Expectations Fuel the Rally

The AUD/USD exchange rate hit a new high in over a year, rising for the third consecutive day, reaching as high as 0.6717. Traders are betting that the Reserve Bank of Australia (RBA) may raise interest rates as early as June 2026. Commonwealth Bank of Australia has explicitly stated that the Australian dollar will rise to 0.68 by the end of the year. The expectation of rate hikes, coupled with the US dollar’s movements, is the core driver behind the AUD’s appreciation.

### Market Highlights Summary

Whether it’s the trio of precious metals rising together, London copper reaching new highs, US stocks hitting record levels, or the Australian dollar soaring to a one-year high, all point to the same signal: global capital is searching for new structural opportunities. Commodities facing supply shortages, dividend-supported stock markets, and currencies driven by rate hike expectations are taking turns stepping into the spotlight. Beneath the calm surface of Christmas Eve, market currents are surging.