Precious metals retreated sharply, with silver and platinum falling from record highs hit earlier in the session, as investors booked profits after recent rallies. U.S. gold futures for February delivery settled 4.6% lower.
Profits at China’s industrial firms in November fell at their fastest pace in over a year, as weak domestic demand offset resilience in exports in another sign of a stuttering economic recovery that backs calls for additional policy stimulus.
Spot Bitcoin exchange-traded funds recorded heavy outflows over Christmas week, with investors pulling a combined $782 million from the products. The most significant single-day withdrawal during the period occurred on Friday, when spot Bitcoin ETFs posted $276 million in net outflows.
Oil prices settled more than 2% lower to end last week as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.
Silver extended its record rally, breaching the key $70-an-ounce mark, while gold and platinum also touched historic highs. Spot silver rose 3% after touching a record high, and prices are up 145% year-to-date.
Spot Ether exchange-traded funds in the US recorded $84.6 million in net inflows on Monday, breaking a seven-day outflow streak in one of the biggest single-day reversals this month. The shift came after over $700 million exited spot Ether products last week, highlighting a pause in selling pressure.
