This week, three primary indices of the US stock market closed higher, marking a rebound after a challenging spellThe Dow Jones Industrial Average rose by 0.35%, breaking a previous streak of three consecutive weekly declinesThe Wen De index, which tracks the top seven US tech players, reflected a reduced weekly gain of just 0.56%. However, this slight uptick was overshadowed by a significant drop in stock prices on Friday, indicating increasing volatility.

As the financial trading landscape for 2024 approaches its conclusion, the performance of the renowned “Seven Tech Giants” reflects an intriguing dichotomyAs of the close on December 27, Nvidia emerged as the standout performer, appreciating approximately 177% throughout the yearIn stark contrast, Microsoft managed to gain just over 15%, showcasing a discrepancy of more than 160 percentage points between the two giants.

Shifting gears to the commodities market, international gold futures prices exhibited a continuing pattern of fluctuation this week

Nonetheless, 2024 has proven to be a robust year for gold, with prices achieving multiple all-time highsCurrently, COMEX gold futures have accumulated gains exceeding 27%, suggesting that this could become the best annual performance since 2010. Industry experts opine that various factors could fuel a renewed ascent in the gold market leading into 2025.

According to reports from Xinhua News Agency, the Kremlin announced on the 28th that Russian President held a conversation with Azerbaijani President Ilham Aliyev upon a request from the Russian sideCommunicating condolences regarding a "tragic incident" involving an Azerbaijani airline's aircraft within Russian airspace was central to the discussion, with assurances of remorse expressed for the victims' families.

Notable Divergence in the Performance of the Tech Giants This Week

In tandem with this divergence in tech performances, the broader US stock market indices witnessed an overall climb, with the Dow Jones advancing by 0.35%, thus ending a trio of weekly declines; the S&P 500 index climbed by 0.67%, concluding its own two-week downward streak; and the Nasdaq Composite appreciated by 0.76%.

However, Friday’s setbacks saw all seven tech giants suffer on the stock front, which contributed to the reduction in the total weekly gain for the Wen De index, now resting at merely 0.56%. A closer examination reveals that during this week, both Tesla and Meta Platforms observed increases of over 2% in their stock prices, while Nvidia saw a rise exceeding 1%. Google’s Class A shares and Apple registered modest gains, in contrast to a slight dip for Amazon and a more pronounced decline of over 1% for Microsoft.

From a total market capitalization viewpoint, Apple boasts the highest valuation at approximately $3.86 trillion

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Nvidia and Microsoft trail behind with market capitalizations of roughly $3.36 trillion and $3.20 trillion, respectivelyBoth Google’s Class A shares and Amazon maintain values above $2.3 trillionIn terms of weekly shifts, Nvidia led the pack with an increase of $56.57 billion in market capitalization among the tech giants; both Meta and Tesla followed closely behind, each gaining over $30 billionConversely, Apple saw an increase of $16.63 billion, and Google’s Class A recorded an uptick of $15.03 billion, while Amazon and Microsoft’s valuations diminished by approximately $12.30 billion and $45.13 billion, respectively.

Looking at the larger picture, this week represents the final complete trading week of 2024, with just two trading days remaining in the yearThe “Seven Tech Giants” have demonstrated powerful momentum throughout the calendar year, with the Wen De index reflecting an overall gain surpassing 51% as of the close on December 27, setting it up for a potential second consecutive annual increase

Nvidia has significantly outperformed with a near 177% uptick, while both Tesla and Meta have surpassed 70%. Amazon recorded over a 47% gain, with Google’s Class A shares and Apple both exceeding 30%, and Microsoft trailing with a 15% appreciation.

When looking toward 2025, several international investment banks continue to maintain optimistic projections for the performance of tech giantsThis sentiment could indicate that the bullish market for technology stocks is set to embark on its third consecutive yearAnalysts at Bank of America project that these organizations may continue to outperform the broader market during 2025. Derivative markets analyst Benjamin Bowler explains that factors such as interest rate reductions and the sustained enthusiasm surrounding artificial intelligence may bolster the stock prices of significant tech firms further.

Optimistic Outlook for Gold Prices in 2025

In the precious metals domain, this week’s international commodities had varied trends, with COMEX gold futures recently trading at $2636.5 per ounce, reflecting a weekly drop of 0.33%. COMEX silver futures, on the other hand, saw a slight increase to $29.975 per ounce, marking a 0.06% gain throughout the week

Industry experts suggest that the recent downturn in international gold prices primarily stems from rising real interest rates in the United States, changes in Federal Reserve policy expectations, and decreasing demand for safe-haven assets.

Despite the recent volatility observed in gold prices, the market has remained resilient throughout 2024, achieving new historical highs on several occasionsAs of the December 27 close, gold futures have escalated by 27.26%, and silver futures by 24.45%. Gold is on track to achieve its best annual performance since 2010, which saw an overall increase of about 29.41%.

Looking ahead to 2025, analysts from Dongwu Securities, including Meng Xiangwen, believe that multiple factors will support a bullish trend in the gold marketProjections suggest that the US economy will enter a phase of reflation, effectively lowering real interest rates ahead of the Federal Reserve’s likely return to an interest rate hike cycle

Such conditions could lead to an increase in gold asset pricesAdditionally, in the current climate of economic unpredictability and rising anti-globalization sentiments, central banks in emerging markets may seek to bolster gold reserves to stabilize their currencies and mitigate economic volatilityThese nations are anticipated to maintain gold purchasing levels ranging from 800 to 1200 tons annually over the coming years.

Furthermore, during this cycle of gold growth, global gold exchange-traded funds (ETFs) have not witnessed adequate net inflowsAs of the end of October, the net inflow into gold ETFs during this round of easing totaled 145 tons, a stark contrast to the 1500 tons observed during the 2019-2020 periodAs the initial premium subsides and prices undergo corrections, there has been a resurgence in net inflows into gold ETFs since late November

With conditions for price elevation gradually aligning, it is expected that ETF inflows could see significant growth.

Xia Yingying, the director of colored metals at Nanhua Futures, agrees that the upward trajectory in gold prices remains intactHowever, she cautions that the pace of this increase may slow in 2025, potentially culminating in a pattern characterized by initial volatility followed by an uptick, then a subsequent correction.

Russia Issues Apology to Azerbaijan for “Tragic Incident”

According to a statement from the Kremlin dated the 28th, a phone call took place at the behest of the Russian side between President Vladimir Putin and Azerbaijani President Ilham AliyevDuring this conversation, Putin expressed condolences regarding a "tragic incident" involving an Azerbaijani passenger aircraft in Russian airspace, offering sincere apologies while reassuring the families of the victims.

On the 25th, an Azerbaijani aircraft, traveling from the capital Baku to Groznyj in Russia, tragically crashed near the city of Aqtau in western Kazakhstan

The flight had 62 passengers and 5 crew members on board, with 38 individuals confirmed deceasedOn the 27th, the Azerbaijani airline stated that “external physical and technical interference” was deemed a contributing factor in the crash.

According to reports released by the Azerbaijani presidential press center on the 28th, during the call with Aliyev, President Putin reiterated his apology concerning the physical and technical interference experienced by the aircraft while traversing Russian airspace.

Details from the Kremlin reveal that the ill-fated aircraft operated per its scheduled timings and made several attempts to land at Groznyj AirportUnsuccessful in landing at its designated destination, the aircraft subsequently redirected towards Aqtau, subsequently crashing nearby.

In response to perceived violations of aviation regulations, Russian authorities have initiated an investigation