London — Britain's benchmark FTSE 100 index briefly surged past the historic 10,000-point mark for the first time on Friday, opening the 2026 trading year on a symbolic high before paring gains to close at 9,951, up 0.2%. The momentary breach extends the index's powerful momentum from 2025, when it posted its strongest annual gain since 2009.

Analysts greeted the milestone with measured optimism, emphasizing the need for solid fundamentals to sustain the level. "Passing any large round number on an index is psychologically important but the foundations for the move have to be solid for the new level to set a floor rather than act as a ceiling," said Toni Meadows of BRI Wealth Management.

Precious Metals Rally Persists, Global Markets Mixed

Supporting the positive sentiment in London, precious metals continued their explosive rally. Spot gold rose 1.9% to $4,393.14 per ounce, while silver jumped over 4.3% to $74.31, building on their best annual performances since 1979. The metals are buoyed by expectations of U.S. rate cuts, geopolitical tensions, and strong institutional demand.

Globally, markets presented a mixed picture. In Asia, South Korea's Kospi climbed to a new record, though major markets like Japan and China remained closed. U.S. stock indices traded near the flatline in early session, with the S&P 500 little changed and the Nasdaq Composite dipping 0.2%.

A Cautious Celebration for the Blue-Chip Index

The FTSE 100's flirtation with the 10,000-point threshold marks a significant psychological achievement for U.K. equities, which have often trailed their U.S. counterparts in recent years. The move represents a notable strategic pivot for investor sentiment toward British large-caps.

However, sustaining this level will require the index to navigate the same macroeconomic crosscurrents—including monetary policy uncertainty and global trade tensions—that are fueling the parallel rally in safe-haven assets like gold. The day's action sets up 2026 as a year where traditional equity benchmarks and alternative stores of value are engaged in a complex high-stakes race for capital within a volatile competitive ecosystem.