Global rebound lifts gold, silver and Asian markets as Tokyo and Seoul hit records

Global markets rebounded Tuesday as precious metals recovered sharply and technology-led rallies in Japan and South Korea pushed benchmark indexes to record highs. U.S. futures were modestly higher as investors digested corporate earnings and shifting risk appetite.

S&P 500 futures rose 0.3%, Nasdaq futures climbed about 0.5%, and Dow futures were flat in premarket trading. The moves followed a volatile stretch for both equities and commodities earlier in the week.

Tokyo and Seoul were the strongest markets on Tuesday. Japan’s Nikkei 225 surged 3.9% to close at 54,720.66, its highest finish on record. Gains were concentrated in tech and equipment makers, with Disco Corp. up 7.4% and Advantest rising 7.1%.

South Korea’s Kospi jumped 6.8% to 5,288.08, also a record. Samsung Electronics gained 11.4% and chip maker SK Hynix climbed 9.3%, as investors rotated back into semiconductor and AI-related names after recent weakness.

Analysts pointed to a mix of factors, including expectations for more market-friendly policy if the Liberal Democratic Party secures a strong showing in Japan’s Feb. 8 election, and a renewed appetite for tech exposure after recent sell-offs.

Gold rose nearly 6% on Tuesday and silver rebounded about 12%, reversing much of a sharp sell-off that crushed metal prices late last week. Silver’s price plunged more than 30% on Friday amid forced selling and heavy volatility.

Market participants attributed the earlier wipeout to a combination of leveraged positions being unwound and uncertainty around leadership at the Federal Reserve after President Donald Trump nominated Kevin Warsh to succeed the Fed chair. Some traders said Friday’s moves reflected deleveraging rather than a lasting change in precious metals demand.

On Wall Street, several corporate results influenced premarket moves. Artificial intelligence software firm Palantir jumped more than 12% after beating fourth-quarter sales and profit expectations and issuing strong guidance for 2026. The company reported full-year revenue of $4.48 billion, a 56% increase from 2024, and forecast another 60% revenue gain for 2026.

PepsiCo shares slipped after the snack and beverage giant narrowly beat sales and profit forecasts but said it will cut prices on some snack lines this year to regain price-sensitive customers.

Regional markets showed mixed but generally positive moves. Hong Kong’s Hang Seng added 0.2% and China’s Shanghai Composite rose 1.3%. Australia’s S&P/ASX 200 edged up 0.9% after the Reserve Bank of Australia raised its policy rate for the first time in two years, citing higher-than-expected inflation.

In Europe at midday, Germany’s DAX was up 0.4%, Britain’s FTSE 100 was down about 0.5% and France’s CAC 40 was flat. Benchmark U.S. crude rose 25 cents to $62.39 a barrel, while Brent crude gained 16 cents to $66.46 a barrel.

Currency markets were active. The U.S. dollar climbed to 155.87 Japanese yen from 155.61, and the euro traded at $1.1799, up slightly from $1.1791.

Investors will focus on incoming corporate earnings, central bank commentary and developments around U.S. Fed leadership. Japan’s Feb. 8 election outcome will be monitored for policy signals that could affect the yen and export-sensitive companies.

Volatility in precious metals underscores that momentum can reverse quickly, while tech-related gains in Asia show how regional politics and sector rotation can drive sharp market moves. Traders and long-term investors alike will be watching Friday’s data and next week’s central bank commentary for clearer direction.