Gold & Silver: The “Ultimate Anchor”

• Record Breaking Run: Precious metals are ending the year with a massive surge. Gold climbed 0.8% to a new record of $4,538.80/oz, while Silver jumped a stunning 4.5% to $74.90/oz.
• The Drivers: Investors and Central Banks are aggressively stocking up on metals as a hedge against global uncertainty, the recent US government shutdown, and expectations of Fed rate cuts in 2026.

Tokyo: Defense Spending Boosts Equities

• Nikkei Nears Record: The Nikkei 225 advanced 0.8% to 50,822, trading near all-time highs.
• Fiscal Catalyst: The rally was fueled by the Cabinet’s approval of a record 9 trillion yen ($58 billion) defense budget. This aggressive spending plan to fortify coastal defenses lifted Heavy Industries and High-Tech stocks significantly.

Mixed Bag in Asia & Currencies

• Regional Divergence: While Taiwan jumped 0.6% and Korea added 0.3%, mainland China slipped 0.2%. Many major hubs (Hong Kong, Australia) remained closed for the holidays.
• FX & Crypto: The Dollar strengthened slightly to 156.09 Yen. Bitcoin continues its upward trend, rising 1.7% to $89,300.
• Oil: Crude remains relatively flat/soft near $58.41, significantly down from its June highs.