Silver Soars While Markets Weigh Growth and Inflation Signals (December 22 – 26, 2025, Recap)

Last week’s review highlighted key economic data releases, market-moving events, and corporate earnings that shaped global markets. Investors focused on growth and labor indicators from Canada and the United States, alongside notable moves in currencies, commodities, equities, and individual stocks. The period also featured several earnings reports that drove sharp price reactions, offering insight into how companies are navigating shifting economic and cost pressures.

Major Economic Indicators and Events in Review

Tuesday, December 23

15:30 – Canada: GDP m/m (CAD)

Economic output shrank by 0.3% in October, reversing the 0.2% growth seen in September. The slowdown was widespread, with 11 out of 20 major industries reporting declines.

The weakness was led by goods-producing sectors, which fell 0.7%, mainly due to weaker manufacturing activity. Service industries also edged down by 0.2%, partly because labor stoppages disrupted normal business activity.

Overall, October reflected a clear loss of economic momentum after the brief rebound in September.

The USDCAD fell by 0.44% on the day.

15:30 – USA: Prelim GDP q/q (USD)

The US economy grew strongly in the third quarter of 2025, with GDP rising at an annual pace of 4.3%, faster than the 3.8% growth seen in the previous quarter. The expansion was mainly driven by higher consumer spending, stronger exports, and increased government spending, while business investment declined.

Economic growth picked up compared to the second quarter as consumers spent more and exports and government activity rebounded. Imports fell, which also helped boost overall GDP growth.

Inflation pressures increased during the quarter. Prices across the economy rose faster than before, including consumer prices, even after excluding food and energy.

Corporate profits jumped sharply, rising by about $166 billion, a major improvement from the modest increase seen in the prior quarter. Overall, the data point to a strong growth quarter, firmer inflation, and a significant rebound in business profitability.

The EURUSD rose by 0.29% on the day.

Wednesday, December 24

15:30 – USA: Unemployment Claims (USD)

New claims for unemployment benefits fell in the week ending December 20, dropping to 214,000 from 224,000 the week before. This suggests fewer people are newly losing their jobs. The four-week average, which smooths out weekly volatility, also edged slightly lower.

At the same time, the number of people receiving unemployment benefits continued to increase. The insured unemployment rate rose to 1.3%, and ongoing claims climbed to about 1.92 million, indicating that some unemployed workers are taking longer to find new jobs.

Overall, the data point to a labor market where layoffs remain low, but rehiring appears to be slowing modestly.

The EURUSD fell 0.09% on the day.

Commodities

1. Crude Oil
   Crude oil prices increased by 0.69% over the past week
2. Brent Oil
   Brent was down 0.36% compared to the previous week
3. Gold
   The precious metal Gold (XAUUSD) concluded the week on Friday with a 4.48% weekly increase
4. Silver
   XAGUSD increased by 18.11% from last week

Stock Market

1. S&P 500 increased by 1.32%
2. DJIA was up 1.15%
3. NASDAQ 100 increased by 1.11%

Top Gainers

1. PicoCELA Inc. (PCLA) 211.54%
2. Haoxin Holdings Limited (HXHX) 151.68%
3. Starfighters Space, Inc. (FJET) 119.43%

Top Losers

1. X3 Holdings Co., Ltd. (XTKG) -92.92%
2. Smart Digital Group Limited (SDM) -86.60%
3. Agroz Inc. (AGRZ) -58.35%

Company Earnings (December 22- 26)

Monday, December 22: EBF (Ennis, Inc.)

Monday, December 22: MSS (Maison Solutions Inc.)

Tuesday, December 23: LMNR (Limoneira Company)

Ennis reported slightly higher revenue and stronger profits for the quarter ended November 30, 2025, with earnings rising compared to last year as margins improved. The company benefited from operational efficiencies and recent acquisitions, while maintaining a debt-free balance sheet. It also declared a quarterly dividend of $0.25 per share.

EBF shares rose by 1.22% from the previous week.

Maison Solutions reported weaker results in the second quarter of fiscal 2026, with revenue falling to $27.6 million from $29.4 million a year earlier. Higher costs and inflation pressures reduced margins, pushing EBITDA to a loss of $4.2 million. The net loss widened to about $5.0 million, mainly due to lower sales, higher expenses, and a one-time loss linked to digital asset value changes.

MSS shares fell by 26.93% from the previous week.

Limoneirareported fourth-quarter revenue of $42.8 million, slightly down from $43.9 million a year earlier. Lemon sales jumped to $19.2 million, but avocado revenue dropped sharply to $0.3 million from $8.9 million. Higher costs led to a net loss of $8.8 million, with a loss per share of $0.49, compared with a loss per share of $0.11 in the same quarter last year.

LMNR shares fell 12.73% compared to the previous week.

Conclusion

Overall, the week underscored a mixed economic and market backdrop. Strong U.S. growth data contrasted with softer signals from Canada, while labor conditions remained resilient but showed signs of cooling. Commodity prices, particularly precious metals, outperformed, equity markets posted steady gains, and company earnings drove sharp stock-specific moves, highlighting a market still sensitive to economic momentum, inflation trends, and corporate performance.