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US futures fell Asian Stocks were mixed on Friday, with Tokyo’s Nikkei 225 trading near record highs.
Gold and silver prices hit record levels, extending their sharp gains for the year as investors, including central banks, stocked up on the precious metals, which are seen as safe havens in times of uncertainty.
Gold rose 0.8% to $4,538.80 a troy ounce, while silver jumped 4.5% to $74.90 an ounce.
Earlier, the surge in gold prices reflected concerns during the US government shutdown. It is expected that the US Federal Reserve will further cut interest rates in the new year, which will weaken the dollar against other currencies, which has also increased the buying of gold.
,Sleep “Gold does what it does when the world loses its anchor: it becomes anchor,” Stephen Innes of SPI Asset Management said in a recent report. “For centuries, gold has been an asset that doesn’t blink. When politics goes by the wayside, when currencies weaken, when inflation eats away at the furniture, gold is the one piece of collateral that the world still regards as ultimate.
In share trading, TokyoThe Nikkei 225 rose 0.8% to 50,822.25 after the Cabinet approved a record defense budget plan of more than 9 trillion yen ($58 billion) for the upcoming fiscal year. Prime Minister Sanae TakaichiThe government aims to strengthen Japan’s strike-back capability and coastal defenses with cruise missiles and unmanned arsenals at a time of heightened tensions with China.
Heavy industries and high-tech companies led the progress.
The dollar rose to 156.09 Japanese yen from 155.83 yen. The euro rose to $1.1787 from $1.1785.
Mainland China markets slipped, with the Shanghai Composite Index falling 0.2% to 3,952.09.
South Korea’s Kospi rose 0.3% to 4,120.04, while Taiwan’s Taiex jumped 0.6%.
shares Dropped in Thailand and India.
Elsewhere in the region, markets were closed in Hong Kong, Australia, New Zealand and Indonesia. Most European markets will be closed on Friday, while Wall Street will reopen for full-day trading after the Christmas holidays. Since most investors have closed their positions for the year, volumes are likely to remain light.
In other deals early Friday, U.S. crude rose 6 cents to $58.41 a barrel and Brent crude rose 4 cents to $61.84 a barrel.
Oil prices have fallen recently after reaching near $70 per barrel in June.
Bitcoin price rose 1.7% to $89,300.