Sapporo Holdings Limited

KKR & Co. Inc.

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.

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

Analysts admit increased volatility and a temporary pause in the growth of gold prices during the New Year holidays

Gold set 50th record for the year amid demand for defensive assets

Suntory Beverage & Food Limited

The People's Bank of China keeps rates unchanged despite weak data and the lingering real estate crisis, while industrial and precious metals are hitting all-time highs. These and other topics are in our review of key events for the morning of December 22.

Highlights for the morning: China's central bank kept rates on hold, copper and gold hit records

Analysts reiterated forecasts for silver to rise to $100 an ounce after the metal hit an all-time high of over $62 on December 10. Against the backdrop of a rapid rally and years of supply shortages, experts Solomon Global, BNP Paribas Fortis and Standard Chartered believe that a combination of structural demand, growing industrial use of silver and its undervaluation could create conditions for the metal to reach $100 by the end of 2026, <a href="https://www.cnbc.com/2025/12/11/100-silver-what-may-be-next-after-devils-metal-hits-record-high.html">writes</a> CNBC.

$100 an ounce? Analysts expect silver to rise after its record rally

Silver prices rose to an all-time high, surpassing the peak recorded in October amid a sharp shortage of the metal in London, a key global bullion trading hub. The spot price of the precious metal <a href="https://www.kitco.com/charts/silver">jumped </a>5.5% on November 28 and reached almost $56.3 per ounce. March futures <a href="https://www.cnbc.com/quotes/@SI.1">traded </a>above $57. The growth was facilitated by increased expectations of a rate cut by the U.S. Federal Reserve in December, the inflow of investment in exchange-traded funds backed by precious metals, as well as the continuing shortage of physical silver, <a href="https://www.bloomberg.com/news/articles/2025-11-28/spot-silver-hits-fresh-record-after-surpassing-october-peak">explains</a> Bloomberg.

The price of silver has hit a record. Persistent deficits are only one of the reasons

UBS raised the "bullish" scenario on the price of gold from $4700 to $4900 per ounce, <a href="http://seekingalpha.com/news/4524281-ubs-lifts-gold-upside-target-to-4900oz-maintains-bullish-view-and-long-position">reports</a> Seeking Alpha. The new price implies growth of another 20% from the current level. The bank also increased its base average annual forecast for 2026 - from $4200 to $4500, while the pessimistic one remained at the same level - $3700 per ounce. The bank believes that after the mid-term elections in the U.S. at the end of 2026, the price of precious metal may be temporarily fixed around $4300, and in case of growth of political and financial risks it is quite possible to realize the "bullish" forecast.

UBS expects gold prices to rise by another 20%. Why does the bank believe in the continuation of the rally?

Newmont Corporation

Shares of the world's largest gold mining company Newmont collapsed by 8% after the opening of major trading in the U.S. Newmont a day earlier reported revenues and profits for the third quarter, which exceeded expectations due to the rapid rise in the price of gold, which several times updated the record value. Why did investors start the sell-off after the stock rallied 140% this year?

Gold miner Newmont's earnings beat expectations. Why did the stock plummet?

Gold is already up more than 50% since the beginning of the year

Morgan Stanley believes that gold will continue to rise in price. What can stop this rally?

In trading on October 21, the cost of gold <a href="https://www.bloomberg.com/quote/XAU:CUR">fell</a> more than 4% to $4168.07 per troy ounce. This was the strongest decline over the past four years after several weeks of rapid growth, <a href="https://www.bloomberg.com/news/articles/2025-10-20/gold-s-record-busting-rally-resumes-after-dip-buyers-emerge">noted</a> Bloomberg.

Gold posted its biggest drop in four years after a record rally

Since the beginning of 2025, gold has risen in price by about 60%, while bitcoin has added about 20%

"Gold is the new bitcoin": Yardeni expects the precious metal to rise to $10,000 in four years

Canada Rare Earth Corp.

Shares in Australian companies that mine rare earth metals rose after China tightened export controls on these resources, escalating trade tensions with the United States. Beijing now requires export licenses for goods containing even small amounts of rare earth elements. Amid Donald Trump's threats to impose an additional duty on Chinese imports in response, investors began buying shares of companies that can replace Chinese supplies.

Rare earth metal producers rose in price due to the dispute between the US and the PRC. Who is the favorite?

Investors are moving into safe haven assets

Precious metals