Highlights for the morning: precious metals records, U.S. duty pause against China, Motive IPOs

Gold, silver and platinum are hitting all-time highs amid demand for safe-haven assets and expectations of rate cuts in the US. Washington postpones the introduction of duties on Chinese semiconductors until 2027. These and other topics - in our review of key events in the morning of December 24.

Gold hit an all-time high, surpassing $4500 per ounce for the first time, amid demand for protective assets and expectations of further interest rate cuts in the U.S., Reuters reports. Silver and platinum also hit record levels, with palladium rising to a three-year high. Investors strengthened their positions in precious metals amid geopolitical tensions and expectations of monetary policy easing.

Gold has risen more than 70% since the beginning of the year, the best annual result since 1979, the agency points out. The growth is supported by central bank purchases, de-dollarization, inflows into ETFs and bets on two key rate cuts in 2026. Analysts estimate that if the trend continues, gold could target $5000 in the 6-12 month horizon and silver could target $80.

The U.S. has postponed duties on Chinese chips and will raise them from June 2027, the Office of the U.S. Trade Representative (USTR) said, CNBC reported. The specific rate will be announced at least a month before the measures take effect. Before that, the duty on Chinese chips will remain zero for 18 months - the decision comes amid an investigation into China's "unfair trade practices" in the industry.

The postponement signals an effort by the administration of US President Donald Trump to ease trade tensions with Beijing after an October truce that included duty relief and the resumption of rare earth metal exports from China. The new deadline gives U.S. companies clarity for supply chain planning.

US-based Motive, which develops software for managing corporate fleets and drivers, has applied for an IPO on the New York Stock Exchange under the ticker MTVE, CNBC reports. The company is part of a growing group of tech startups aiming to go public in 2026, amid reports of similar plans by a number of major market players, the channel said.

In the third quarter of 2025, Motive generated revenue of $115.8 million (+23% YoY), but increased its net loss to $62.7 million. Its customer base is approaching 100,000 companies. Motive's main revenue is generated by subscriptions; the company also sells equipment and professional services. Founded in 2013 (formerly Keep Truckin), the company employs more than 4.5k people, including 400 AI data annotators. Motive is also in a patent dispute with competitor Samsara, which went public in 2021.

Japan's Sapporo Holdings plans to sell its real estate business to a consortium led by KKR for 400 billion yen ($2.6 billion), NHK reports. The deal will allow the company to focus its resources on key areas, primarily brewing.

The portfolio of assets includes Yebisu Garden Place in Tokyo; PAG also participates in the consortium. Investors expect revenue growth by attracting new tenants, NHK notes. Sapporo shares rose almost 3% after the news; the parties had previously tried to agree on a deal, but differed in the valuation of the assets.

- Japan's broad Topix index rose 0.44% on Dec. 24, while the Nikkei 225 was little changed.

- Hong Kong's Hang Seng Index rose 0.17%, while mainland China's CSI 300 Index gained 0.27%.

- In South Korea, the Kospi index was down 0.22% and the Kosdaq was falling 0.53%.

- Australia's S&P/ASX 200 was falling 0.38 percent.

- S&P 500 futures, Nasdaq Composite futures and Dow Jones Industrial Average exchange-traded contracts were little changed.

This article was AI-translated and verified by a human editor