Asia-Pacific markets posted modest gains in light holiday trading on Friday, with several major exchanges closed for Boxing Day. The session was marked by another surge in precious metals, with gold topping $4,530 per ounce and silver reaching $75.1—both setting fresh all-time highs.

Spot gold rose as much as 1% to $4,530 before easing to around $4,508, while silver added over 3%. For the year, gold has rallied more than 71% and silver 158%, driven by safe-haven demand, a weakening U.S. dollar, and uncertainty over the Federal Reserve’s rate path.

Regional Movers: Japan and South Korea Lead

• Japan’s Nikkei 225 rose 0.68%, led by tech stocks. SoftBank gained 1.8%, while chip-related names Advantest and Lasertec advanced over 2%.

• Tokyo’s core CPI rose 2.3% in December from a year earlier, staying above the Bank of Japan’s 2% target but cooling from November’s 2.8%. The data reinforced expectations of further gradual rate hikes.

• South Korea’s Kospi added 0.51%, with Samsung Electronics rebounding more than 5% after recent losses.

• China’s CSI 300 rose 0.32%, while India’s Nifty 50 and Sensex dipped about 0.4%.

• Markets in Australia and Hong Kong were closed for the holiday.

U.S. Futures Tick Higher After Record Session

U.S. equity futures edged up in late Asian hours, following another record close on Wall Street. The S&P 500 advanced 0.32% to 6,932.05 on Wednesday, while the Dow Jones Industrial Average gained 0.60% to 48,731.16. The Nasdaq Composite rose 0.22% to 23,613.31.

The precious metals rally underscores a persistent risk-off undercurrent even as equity markets grind higher. With trading volumes subdued and several key markets offline, gold and silver’s relentless climb served as the day’s dominant theme, reflecting ongoing concerns over geopolitical tensions, monetary policy divergence, and market volatility.