1. Stock futures rose on Monday as investors put a bruising week behind them, waiting for an upcoming flurry of economic data to help expectations for interest-rate cuts in 2026. Contracts on the S&P 500 and on the tech-heavy Nasdaq 100 moved up roughly 0.5% on the heels of closing sharply lower. Meanwhile, Dow Jones Industrial Average futures gained 0.4%, on track to retrace its Friday loss. Recently, concerns about overhyped AI expectations have prompted investors to exit tech and move into value stocks. That has pressured the Nasdaq Composite and the S&P 500, but spared the Dow the worst, given it includes fewer tech names.
2. Gold traded near a record as investors assessed U.S. inflation data that came in softer than expected. Platinum extended a breakneck rally that saw it surge close to $2,000 an ounce. Bullion traded little changed around $4,340 an ounce, paring earlier losses and just $40 away from an all-time high reached in October. Meanwhile, heightened geopolitical tensions can enhance the appeal of precious metals. Gold has jumped about two-thirds this year and is on track for its best annual performance since 1979, after a blistering rally driven by central-bank buying. Platinum rose for a sixth consecutive session and has more than doubled this year, set for the biggest annual gain in data compiled going back to 1987.
3. The federal government’s employment data, released Tuesday morning, showed the U.S. economy added 64,000 jobs in November, comfortably topping economists’ expectations of roughly 40,000 to 50,000. But the headline beat came with a warning sign. Unemployment climbed to 4.6 percent, the highest level in four years, leaving 7.8 million Americans looking for work. That rate has been creeping higher for months, up from a recent low of 4.1 percent in May.
4. The explosion in AI models, software, and agents has raised questions about the impact of the technology on the broader job market as companies find new efficiencies from this new technology. But according to the latest U.S. AI Pulse Survey, just 17% of 500 business executives at U.S. companies saw productivity gains via AI, turned around and cut jobs. “There’s a narrative that we hear quite frequently about companies looking to take that benefit that they’re seeing and put it into the financial statements … reducing costs, or … cutting heads,” global consulting AI leader Dan Diasio said. “But the data that we asked those 500 executives does not bear that out. That is happening less than one out of five times, and more often they are reinvesting that,” he added.
5. Inflation pressures eased more than expected in November, according to the latest data on consumer prices published. The Consumer Price Index (CPI) rose 2.7% over the prior year in November, less than the 3.1% increase that had been expected by economists. On a “core” basis, which strips out the more volatile costs of food and energy, prices rose 2.6% over the prior year in November. Economists had also expected to see a 3.1% increase in core prices. Thursday’s report should also mark the final time major economic data, notably the monthly jobs report and inflation data, is published on an altered schedule following the government shutdown that lasted 43 days earlier this year.
6. In the week ending December 13, the advance figure for seasonally adjusted initial claims was 224,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 236,000 to 237,000. The 4-week moving average was 217,500, an increase of 500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 216,750 to 217,000.
7. Oil edged higher for a second day as geopolitical risks in Venezuela and Russia offered some support to prices that have slumped on a bearish oversupply outlook. Brent crude initially rose toward $61 a barrel, extending a 1.3% increase on Wednesday, but then pared most gains in a choppy session. Oil is still on track for a yearly loss of about a fifth as global supply eclipses demand, with U.S. futures hitting the lowest since 2021 earlier this week before the spike in tensions pushed prices higher. Market metrics from the Middle East to the U.S. have been flashing signs of underlying weakness.
8. EUR/USD gains traction and trades above 1.1730 in the American session, looking to end the week virtually unchanged. The bullish opening in Wall Street makes it difficult for the U.S. Dollar to preserve its recovery momentum and helps the pair rebound heading into the weekend.
9. The USD/JPY is up 0.85% to near 156.90 during the European trading session. The pair surges as the Japanese Yen underperforms across the board, following the Bank of Japan monetary policy announcement. In the policy meeting, the BoJ raised interest rates by 25 bps to 0.75%, as expected, the highest level seen in three decades.
Gold rose, approaching record levels, silver climbed to a fresh peak, and platinum jumped to the highest since 2008. Gold bullion traded near $4,350 an ounce, recovering from a modest decline in the previous session that snapped a five-day winning streak. Gold is not far off the record high above $4,381 an ounce set in October. The precious metal has jumped more than 60% this year and is on track for its best annual performance since 1979. The scorching rally has been driven by elevated central bank buying, as well as a broader pullback by investors from government debt and key currencies. Geopolitical tensions have also enhanced its haven appeal.
The jobs report for November provided fresh evidence of softening in the labor market, but it isn’t likely to change the outlook for the Federal Reserve much for now. “We do not think this was weak enough to spur another near-term rate cut,” said Krishna Guha, head of global policy for Evercore ISI. “The data will have to come in appreciably worse than expected to deliver another cut. The Oct-Nov print does not meet that test in our view, though the Fed will not be complacent and will be very attentive to what December brings.” Stephen Brown, economist for Capital Economics, also said he doubts the report “will be enough for the FOMC to consider resuming interest rate cuts at the next couple of meetings.” Economists and Fed observers say caution is warranted in assigning significance to the numbers, given potential distortions in the data due to the government shutdown that lasted throughout October and into November.
Home sales notched their third straight month of gains in November, though 2025 sales are likely to finish the year at a 30-year low. Existing home sales rose 0.5% from October to a seasonally adjusted annual rate of 4.13 million, according to National Association of Realtors data. Lower mortgage rates were likely a boost: Homes sold in November typically went under contract during September or October, around when mortgage rates began holding steady near year-to-date lows of 6.2%. “The low mortgage rate conditions of this autumn compared to the early part of the year are clearly helping some of the affordability conditions,” said NAR chief economist Lawrence Yun.
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Friday to Friday Close (New York Closing Prices)
| Dec. 12, 2025 | Dec. 19, 2025 | Net Change | ||
| Gold | $4,293.68 | $4,353.08 | 59.40 | 1.38% |
| Silver | $61.76 | $67.35 | 5.59 | 9.05% |
| Platinum | $1,748.50 | $1,977.19 | 228.69 | 13.08% |
| Palladium | $1,505.96 | $1,712.34 | 206.38 | 13.70% |
| Dow | 48446.83 | 48129.29 | -317.54 | -0.66% |
Previous Year Comparison
| Dec. 20, 2024 | Dec. 19, 2025 | Net Change | ||
| Gold | $2,626.04 | $4,353.08 | 1727.04 | 65.77% |
| Silver | $29.43 | $67.35 | 37.92 | 128.85% |
| Platinum | $934.15 | $1,977.19 | 1043.04 | 111.66% |
| Palladium | $924.36 | $1,712.34 | 787.98 | 85.25% |
| Dow | 42841.67 | 48129.29 | 5287.62 | 12.34% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 4275/4197/4091 | 65.41/62.50/61.41 |
| Resistance | 4380/4459/4564 | 68.52/72.38/74.03 |
| Platinum | Palladium | |
| Support | 1720/1659/1568 | 1489/1446/1394 |
| Resistance | 1871/1961/2004 | 1601/1652/1735 |