S&P 500, Dow hit all-time closing highs; gold, silver touch records

S&P 500, Dow hit all-time closing highs; gold, silver touch records

By Stephen Culp

Wed December 24, 2025 4:51 PM  

As has been the trend this week, the Santa Claus rally is going strong as all the indexes were straight up again today, especially the Dow with a handsome 3-digit gain, new records for both the Dow and S&P. Because of seasonal holiday hiring, jobless claims dropped this week but, surprisingly, continuing claims also rose. For the big picture, our expert tells us, “It’s been a good year for stocks and it’s been a super year for precious metals” as today we saw gold rise to just below the $4500 mark.  

But, really, this just highlights the split in investor sentiment as gold and silver is where we go when we feel the market tumbling. So half the market has lost confidence and put their riches into metals so gold has risen 70% and silver 150% for the year. The others are putting all their bets on stocks with all indexes set to have a third straight year of gains but the S&P specifically heading for a whopping 18% return on the year. The smarter investors are likely doing both. Volume being light for the holiday and a shortened session, per the CBOE there were 7.9 billion trades today vs a 16.6 average. 

DJ: 48,442.41  +79.73        NAS: 23,561.84  +133.02       S&P: 6,909.79  +31.30           12/23

DJ: 48,731.81  +289.40      NAS: 23,613.31  +51.46         S&P: 6,932.13  +22.34           12/24

Wed 12-24-25 4:51 pm S&P 500, Dow hit all-time closing highs; gold, silver touch records | Reuters