[Spot Gold Rises Approximately 2.5% This Week to $4,302.68] On Friday (December 12), spot gold rose 0.53% in late New York trading to $4,302.68 per ounce, marking a cumulative increase of 2.49% for the week. Gold prices remained roughly flat from Monday to Wednesday ahead of the Federal Reserve's announcement of interest rate cuts and Treasury bond purchases, then continued to climb, with a significant pullback on Friday. COMEX gold futures rose 0.48% to $4,333.60 per ounce, up 2.14% for the week, and briefly surged to $4,387.80 during Friday's session.

[U.S. 30-Year Treasury Yield Rises to 4.86%, Hits Highest Since September] The yield on the U.S. 30-year Treasury briefly rose 6 basis points to 4.86%, marking its highest level since September 5. The 2-year Treasury yield was mostly flat on Friday. Chicago Fed President Austan Goolsbee and Kansas City Fed President Esther George stated that concerns over inflation are the main reason for opposing rate cuts. Strategist Edward Harrison pointed out that, given traders expect two 25-basis-point rate cuts by the end of 2026, Goolsbee's remarks indicate downside risks for U.S. Treasuries.

[U.S. Supreme Court to Rule on Legality of Trump Tariffs] The U.S. Supreme Court is set to rule on the legality of the comprehensive tariffs introduced by President Trump in April. The S&P 500 Index has rebounded 39% from its low point that month, closing at a record high on Thursday. The court held its final public hearing of the year on Wednesday, with the next session scheduled for January 9 next year. Wells Fargo's chief equity strategist estimated in October that if the tariffs are ruled invalid, the earnings before interest and taxes (EBIT) of S&P 500 constituent companies will grow by 2.4% by 2026 compared to this year.

[Moody's Proposes New Stablecoin Rating Framework, Focusing on Reserve Asset Quality] Moody's has released a new proposed framework for rating stablecoins, with a core emphasis on the credit quality of reserve assets, market value risk, and operational risk assessment. Under this framework, even two stablecoins both pegged '1:1 to the US dollar' may receive different ratings due to differences in the types of reserve assets. The rating process includes evaluating asset credit quality, setting 'loan-to-value ratios,' and incorporating operational risks. The report highlights that issuers must segregate reserve assets from other business operations.

Since November 1st, wallets holding 100000 to 100 million Cardano cards have increased their holdings by 26770 ADAs, while wallets holding 100 or fewer ADAs have sold 44750 ADAs during the same period. （Santiment）