US stocks fell on December 30, gold weakened despite rising demand for safe-haven assets due to geopolitical tensions and US debt. Oil prices rose slightly, diesel jumped to its highest level since November 2024 thanks to increased heating demand.
At the end of the trading session on December 30, the US stock market fell across the board. The Dow Jones lost 418.48 points (equivalent to 0.97%) to 42,573.73 points, while the S&P 500 fell 1.07% to 5,906.94 points. The Nasdaq Composite was no exception, falling 1.19% to 19,486.78 points.
The yield on the 10-year US Treasury note remained above 4.6% last week, despite showing signs of decline earlier in the week.
Japan's finance minister said the government would take appropriate steps to counter excessive yen volatility. The Bank of Japan signaled that a rate hike next month was still on the table. Meanwhile, South Korea's won led declines among emerging market currencies after the country's parliament impeached acting President Han Duck-soo.
Spot gold fell 0.6% to $2,603.53 an ounce, while gold futures fell 0.6% to $2,616.4 an ounce. Geopolitical tensions are expected to remain high next year, according to experts from Zaner Metals. Central banks are expected to continue to increase gold purchases amid a possible worsening of the US debt situation and a widening budget deficit under the Trump administration, thereby boosting safe-haven demand for gold.
In the energy market, Brent crude oil prices increased by 0.3% to 74.39 USD/barrel, while WTI crude oil increased by 0.6% to 70.99 USD/barrel. Notably, the price of ultra-low sulfur diesel futures in the US skyrocketed by 2.5% to 2.30 USD/gallon, the highest level since November 5, 2024.
Concerns about colder weather in the coming weeks are boosting demand for diesel as an alternative to natural gas for heating, experts say. Stay tuned. HVA to update and grasp the fastest information about the financial market every day.
