January 12th, the global financial markets experienced a generally upward trend. How did the performance look on this day? Let's take a look one by one.

**Commodity Markets Are Exceptionally Hot**

Spot silver surged by 6.52% in a single day to $85.10/oz, becoming the most dazzling star of the day. The sudden surge in industrial demand and expectations of supply shortages pushed silver prices higher. Meanwhile, spot gold also performed strongly, closing at $4596.87/oz, up 1.95%, supported by safe-haven demand and ongoing central bank gold purchases worldwide.

Oil prices are also rising. WTI crude oil closed at $59.85/barrel, up 1.84%; Brent crude oil closed at $64.20/barrel, up 1.9%. Tensions in the Middle East and OPEC+ production cut expectations are driving oil prices steadily higher through dual factors.

**Stock Markets Slightly Turn Green, Fed Rate Cut Expectations Are Brewing**

The three major US stock indices all rose, though modestly. The S&P 500 increased by 0.16% to 6977.27 points, Nasdaq rose by 0.26% to 23733.9 points, and Dow Jones gained 0.17% to 49590.2 points. The market expects the Federal Reserve to continue maintaining a relatively accommodative policy stance.

Most European stock indices are slightly in the green. Germany’s DAX led with a 0.57% increase, the UK FTSE 100 and Europe’s STOXX 50 rose by 0.16% and 0.31%, respectively. France’s CAC 40 slightly declined by 0.04%, but the overall trend remains bullish.

**Dollar Under Pressure, Risk Appetite Rises**

The US dollar index weakened slightly during this rally, indicating that market risk appetite is warming up. Although the cryptocurrency sector showed some divergence in performance, the overall market sentiment has clearly improved — commodity prices soaring and stock indices rising together usually signal that investors are becoming more daring. For cryptocurrencies like Bitcoin, such macro environments are not bad.