Gold Sets New Records as Thin Holiday Trading Lifts Asia Stocks and Jars Brazil’s Real

Overview

• China’s mainland rally extended, with Shanghai logging a seventh and eighth straight rise this week as AI, aerospace and robotics shares led gains.
• Precious metals advanced to fresh highs, with gold near $4,550 an ounce and up roughly 70% this year as safe‑haven demand and a softer dollar supported the move.
• Japanese and South Korean officials reiterated readiness to counter excessive FX swings, while the PBoC signaled a steady yuan and set a stronger‑than‑expected fixing.
• U.S. stocks traded near records after the S&P 500’s latest closing high before Christmas, with Friday’s session showing little direction on light volume.
• Brazil’s real weakened after Jair Bolsonaro endorsed Flávio Bolsonaro for 2026, and the central bank scheduled up to $2 billion in dollar‑lease auctions to supply liquidity.