Haven Demand Sends Gold and Silver to Fresh Record Highs

Stocks stage a “Santa Rally,” but the big news is in the push in precious metals to new all-time highs.

Key Takeaways

• Asia Rallies While the U.S. Dollar Slips: Asia rocked and rolled today. Korea (+2.1%), Japan’s Nikkei 225 (+1.8%), Taiwan (+1.6%), Thailand (+1.3%), India (+0.8%), China’s Shanghai Composite (+0.7%), and Singapore (+0.7%) were all up. The DXY dollar index is down a smidge and is struggling to reclaim the 100-day trendline, with the yen showing a pulse following some supportive comments out of Atsushi Mimura, Japan’s chief currency official, who stated that he has become “deeply concerned” over the “one-sided, sudden moves” in the exchange rate.