Gold (XAUUSD)'s all-time high, markets mixed

Gold price chart at all-time high with safe-haven demand and mixed global market performance

Key Points

01Russia's November unemployment printed 2.1%, down from 2.2%, and indicated a modest improvement in labor conditions.
02Gold (XAUUSD) hit a new all-time high, supporting safe-haven demand, while social posts on US housing unaffordability and a White House growth claim contributed to mixed sentiment.
03Assertio effected a one-for-fifteen reverse stock split, prompting cash-in-lieu for fractional shares that may have affected short-term ASRT liquidity; the BoJ published JGB liquidity indicators.

Global Market Summary

Asian equities closed higher with the Nikkei (NKY) up 0.68% and the Shanghai Composite (000001.SS) up 0.10%; US markets were mixed with the Dow Jones (DJIA) down 0.06% and the Nasdaq (^IXIC) off 0.003%. European index data was unavailable for the session.

Top Movers

Sector action: basic materials XLB (0.47%) led gains while energy XLE (-0.51%) and consumer cyclical XLY (-0.34%) lagged. Notable stock movers included PSLV (7.70%), ZETA (7.67%) and CPNG (7.00%) among gainers, with RGC (-15.08%) and FLY (-13.13%) the largest decliners.

Macro highlights

Russia's November unemployment printed 2.1%, down from a prior 2.2% and below the 2.2% consensus, indicating a modest improvement in labor conditions. Multiple other calendar entries were repeats of the Russia unemployment release with no additional reported actuals.

News that moved markets

Assertio (ASRT) effected a one-for-fifteen reverse stock split effective Dec. 26, 2025, reducing outstanding share count and prompting cash-in-lieu mechanics for fractional shares that may affect short-term liquidity in ASRT. Reports and social posts noted gold (XAUUSD) hit a new all-time high, supporting safe-haven demand, while posts on U.S. housing unaffordability and a White House claim that U.S. growth is outpacing peers contributed to mixed sentiment; the Bank of Japan published November JGB liquidity indicators relevant to fixed-income market functioning.

Upcoming session watchlist

01US EIA Crude Oil Stocks Change (DEC/19) — vs -1.274M prior, Dec 29, 03:30 PM | Shows weekly crude oil inventory change and supply versus demand.
02US EIA Gasoline Stocks Change (DEC/19) — vs 4.808M prior, Dec 29, 03:30 PM | Shows weekly gasoline supply changes and short-term demand balance.
03RU Inflation Rate YoY (DEC) — forecast 6.2% vs 6.6% prior, Dec 29, 04:00 PM | Measures annual inflation trend and consumer price pressures.
04RU Inflation Rate MoM (DEC) — forecast 0.6% vs 0.4% prior, Dec 29, 04:00 PM | Measures monthly inflation momentum and short-term price pressure.
05IN Industrial Production YoY (NOV) — forecast 4.1% vs 0.4% prior, Dec 29, 10:30 AM | Measures broad industrial output and economic growth momentum.

Key Takeaways

01Asian equities closed higher, with the Nikkei (NKY) leading gains and the Shanghai Composite slightly higher, while US indexes finished mixed during the session.
02Basic materials led sector gains while energy and consumer cyclical lagged; PSLV, ZETA and CPNG were among notable winners while RGC and FLY registered the largest declines.
03Assertio's one-for-fifteen reverse split introduced cash-in-lieu mechanics that may affect ASRT short-term liquidity; the BoJ published JGB liquidity indicators.

References