December 2025 and Full 2025 in Figures
January 1, 2026
Gold and silver prices soared in 2025, as the dollar experienced its weakest performance in almost a decade. Despite central bank interest rate cuts in Europe and North America, long-term interest rates advanced somewhat. Bitcoin swung all over the place but fell only around 6% on balance. Lower oil prices enabled reported total inflation to stay lower than would have otherwise been the case.
| 10-Yr Yield | 12/31/25 | Chg in Dec | 2025 Change |
| U.S. | 4.17% | +9 basis points | +40 basis points |
| Germany | 2.85% | +10 | +49 |
| Japan | 2.05% | +19 | +98 |
| U.K. | 4.47% | +1 | -9 |
| Canada | 3.43% | +19 | +21 |
| Switzerland | 0.23% | +12 | +2 |
| CB Policy Rate | 12/31/25 | Chg in Dec | 2025 Change |
| Fed funds target | 3.50/3.75% | -25 basis points | -75 basis pts |
| ECB deposit rate | 2.00% | 0 | -100 |
| BOJ policy rate | +0.75% | +25 | +50 |
| BOE Bank Rate | 3.75% | -25 | -100 |
| Swiss Policy Rate | 0.0% | 0 | -50 |
| FX | 12/31/25 | Dec Chg in $ | 2025 Change |
| EUR/USD | 1.1744 | -0.9% | -11.8% |
| USD/JPY | 156.79 | +1.1% | -0.3% |
| USD/CHF | 0.7930 | -1.2% | -12.6% |
| GBP/USD | 1.3466 | -1.6% | -7.1% |
| AUD/USD | 0.6674 | -1.7% | -7.3% |
| NZD/USD | 0.5753 | -0.2% | -2.8% |
| USD/CAD | 1.3721 | -1.7% | -4.6% |
| USD/CNY | 6.9934 | -1.2% | +1.4% |
| Equities | 12/31/25 | Chg in Dec | 2025 Change |
| S&P 500 | 6845 | +0.4% | +16.4% |
| Nasdaq | 23242 | -0.1% | +20.4% |
| Djia | 48063 | +1.6% | +13.0% |
| Dax | 24490 | +3.8% | +29.5% |
| Nikkei | 50339 | +2.1% | +26.2% |
| Ftse | 9931 | +1.7% | +21.5% |
| Canada TSE | 31713 | +1.8% | +28.2% |
| Swiss SMI | 13267 | +3.2% | +14.4% |
| Commodities | 12/31/25 | Chg in Dec | 2025 Change |
| Oil, $ per barrel | 57.42 | -3.5% | -19.9% |
| Gold, $ per ounce
Bitcoin, $ |
4341
87,637 |
+1.8%
+3.0% |
+64.4%
-6.2% |
Copyright Larry Greenberg 2026. All rights reserved. No secondary distribution without express permission.
ShareThis
