The split screen this morning is stark: precious metals and equities are charging higher while crude oil falls off a cliff.
Palladium leads everything, up 6.71% to 1,351.27. Platinum is right behind at +6.50% (1,740.16), extending a 7.32% weekly gain. Both stand out as the clearest single move on the board.
Metals
The platinum-group surge dominates. Silver added 2.18% to 59.52, while gold managed a quieter 0.60% to 4,077.84, still down 1.02% on the month.
The standout context: platinum is up 6.61% over the month and palladium 6.28% on the week, so the strength isn’t a one-session blip.
Equities
Risk appetite is firmly on. The Nasdaq 100 jumped 2.90% to 29,691.70, capping an 8.44% weekly run. The S&P 500 (+1.82%) and Dow (+1.81%) followed closely.
In Asia, the Nikkei 225 rose 2.01% and now sits up 39.34% on the year, the strongest annual figure in the index set. Europe joined in, with the DAX +1.03% and Euro Stoxx 50 +1.02%.
Energy
Crude is the day’s outlier. US Oil dropped 5.77% to 74.40 and UK Oil fell 5.35% to 78.18. Both are down more than 10% on the week, though they remain up roughly 25% year-on-year.
Currencies
The dollar softened broadly. The rand was the biggest FX mover, with USDZAR down 1.15% to 16.328. USDSEK and USDPLN both fell around 0.6%.
Commodity currencies firmed: AUDUSD rose 0.64% and NZDUSD 0.43%. The yen was little changed against the dollar at 157.72, but USDJPY is down 3.42% on the week.
Crypto
Bitcoin climbed 1.16% to 64,190.65. Polkadot led the majors at +2.43%, extending a 9.92% week. XTZ was the softest, off 2.32%, and UNI remains down 13.07% on the week.
The divergence between the metals rally and the crude collapse is the session’s defining feature.
