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News Topical, Digital Desk : This morning holds significant signs for global markets and geopolitics. The meeting between US President Donald Trump and Ukrainian President Volodymyr Zelensky has strengthened hopes for peace in the Russia-Ukraine war. Meanwhile, precious metals like gold and silver are experiencing significant gains. China's growth plans, US market movements, and news related to Nigeria are also in focus in today's Global Wrap.
Situation of Asian markets
On Monday, Japan's main index Nikkei 225 slipped by about 0.55%. Along with this, the broader index Topix also registered a decline of 0.26%. Investors appeared cautious in the Japanese markets before the end of the year and profit booking was dominant.
On the other hand, a positive sentiment was seen in the South Korean markets. The benchmark Kospi rose by 0.62%, while the tech-heavy Kosdaq gained 0.19%. Hong Kong's Hang Seng Index is up by 0.7%. However, there was a slowdown in the mainland Chinese markets and the CSI 300 was seen trading almost flat. Australia's S&P/ASX 200 is down by 0.21%
Trump-Zelensky meeting: Peace deal very close The meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy is being considered very positive. Trump stated that "significant progress" has been made in the negotiations and a peace agreement is now very close, although it may take a few weeks to finalize. Trump also clarified that he would speak with Zelensky again in the coming weeks. A major indication was that Europe would play a major role in guaranteeing Ukraine's security. This could reduce the direct burden on the United States.
Zelensky's claim: 90% agreement on the peace framework Zelensky stated that all aspects of the peace framework were discussed in the talks. According to him, approximately 90% agreement has been reached on the peace plan framework, while 100% agreement has been reached on US-Ukraine security guarantees. Zelensky stated that security guarantees are the key to lasting peace. Additionally, a "Prosperity Plan" for Ukraine is being finalized, which will accelerate the country's economic recovery after the war.
Putin's warning and attack on Ukraine Amidst this diplomatic turmoil, a statement from Russian President Vladimir Putin also emerged. Before the phone call with Trump, Putin had stated that if Ukraine did not hurry with peace, Russia would achieve all its goals through force. Meanwhile, Russia launched a major attack on Kyiv and Ukraine's vital energy infrastructure on Saturday. According to reports, more than 500 drones and 40 missiles were used in this attack.
Gold and silver have made history in the global commodity market. Silver prices jumped nearly 11% in a single day, reaching nearly $80 per ounce. Silver has risen nearly 170% so far in 2025. Gold also set a new record, with gold futures surpassing $4,550. Both gold and silver are on track for their best annual returns since 1979. Platinum rose 9%, and palladium 10%. Copper prices in China also rose nearly 5%, reaching close to 100,000 yuan for the first time.
What's driving the rally? There are several major reasons behind this rally. Supply shortage in silver, geopolitical tensions, expectations of further rate cuts from the US Federal Reserve, weak dollar, strong investment in ETFs and continuous purchase of gold by central banks are supporting this rise.
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