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Silver tops $75 as gold and platinum surge to records

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Silver tops  as gold and platinum surge to records


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Reuters

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December 26, 2025

Silver hit $75 for the first time on Friday, with gold and platinum too striking record highs, as speculative bets, expectations for more US rate cuts, and rising geopolitical tensions powered precious metals.

Silver jewelry displayed in New York City in Manhattan, New York City, U.S., October 15, 2025 – REUTERS/Jeenah Moon

Spot gold rose 0.8% to $4,515.73 per ounce, as of 0818 GMT, after touching a record $4,530.60 earlier. US gold futures for February delivery climbed 0.9% to $4,545.10. Spot silver jumped 3.8% to $74.68 per ounce, after touching an all-time high of $75.14.

Momentum-driven and speculative players have been powering the rally ⁠in gold and silver since early December, with thin year-end liquidity, expectations of prolonged US rate cuts, a weaker dollar, and a flare-up in geopolitical risks ⁠combining to push precious metals to fresh record highs,” said Kelvin Wong, senior market analyst at OANDA. 

“Looking ahead into the first half of 2026, gold could move towards the $5,000 level, while silver has the potential to reach around $90,” said Wong.

Gold staged a strong ‍rally this ‌year, recording its biggest annual gain since 1979, fuelled by Federal Reserve policy easing, geopolitical uncertainty, ⁠strong central bank demand, rising ETF ‌holdings, and ongoing de-dollarisation. Meanwhile, gold discounts in India hit a more than six-month high ‌as record prices curbed retail buying, while China’s discounts retreated from last week’s five-year peak. 

Silver soared 158% year-to-date, outpacing gold’s nearly 72% gain, on structural deficits, its listing as a US critical mineral, and robust industrial demand. With traders pricing in two US rate cuts next year, non-yielding assets ‍like gold are likely to remain well-supported in a low-interest-rate environment.

On the geopolitical front, the US is focusing on enforcing a “quarantine” of Venezuelan oil for the next two months. On Thursday, it struck ‌Islamic State militants in ⁠northwest ​Nigeria over attacks on local Christian communities.

Spot platinum rose 5.8% to $2,349.65 per ounce, ⁠after touching ​an all-time high of $2,448.25 earlier, while palladium climbed 7% to $1,801.25, following a three-year high in the previous session. All precious metals were headed for weekly gains.

Platinum and palladium, widely used in automotive ​catalytic converters, have surged on tight supply, tariff uncertainty, and rotation from gold investment demand, with platinum up roughly 160% and palladium more than 90% year-to-date. “Platinum ⁠prices are being supported by strong industrial demand, and ⁠stockists in the US have been covering positions amid sanctions-related concerns, which is helping keep prices elevated,” said Jigar Trivedi, senior research analyst at Reliance Securities, based in Mumbai.

© Thomson Reuters 2025 All rights reserved.



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UK’s M&S doubles down on denim with Spring 26 campaign

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UK’s M&S doubles down on denim with Spring 26 campaign



M&S is doubling down on its market lead in women’s denim and momentum in men’s denim with a dedicated campaign to launch its Spring 26 collections. 

M&S enters 2026 holding the leading position in women’s denim and a growing market share in men’s denim as more customers turn to M&S for style, quality and accessible price points. 

M&S is strengthening its dominance in women’s denim and building momentum in men’s with its Spring 26 campaign.
Holding an 18.2 per cent share in women’s denim, it is expanding trend-led fits, reducing legacy lines by 40 per cent, and introducing modern silhouettes with broader sizing.
Updated men’s smart-casual shapes and wider washes aim to attract younger shoppers and drive higher volumes.

With the denim market in growth – +7.9% vs LY (WW), +6.1% vs LY (MW) – M&S is well placed to accelerate its leadership in one of its key growth categories.

A confident women’s proposition

The Spring 26 womenswear offer reflects M&S’s category strength in fit and breadth. Already the UK’s leading retailer in women’s denim, with a market share of 18.2%, M&S is doubling down on trend led newness while refreshing customer favourites to drive volume.

Over the past year, M&S has reduced legacy lines by 40%, enabling the business to pivot into faster moving, trend aligned fits. The introduction of new fashion led silhouettes – alongside a new pricing architecture where 40% of the SS26 range sits at £30 ($40.92) or under – will sharpen value and style perception further. 

New silhouettes include the High Waisted Patch Pocket Flare, sitting alongside updated customer favourites, such as the Barrel – including the new High Waisted Crease Front Barrel Leg, High Waisted Turnup Wide Leg and Lyocell Blend Wide Palazzo fits. Wide Leg and Barrel fits now account for 65% of total womenswear denim sales. M&S has sold 105,000 pairs of Barrel Leg Jeans since first introducing the shape in March 2025.

With sizes 6–24 and across up to five different leg lengths, the offer maintains M&S’ position as a destination for inclusive and reliable denim. The breadth of trend-aligned shapes and sizing mix is playing a key role in attracting a younger shopper – sales among the 35–54-year-old customer have increased by +9.5%, with M&S outgrowing the wider denim market. 

Maddy Evans, Director – M&S Woman, said: “We’re building on our market share leadership in women’s denim with new refreshed shapes that are modern, versatile and stylish. This season, we’ve strengthened our offer around the fits our customers are loving most, from new takes on Wide Leg to updated Barrel silhouettes. With 65% of sales now driven by these modern shapes, and 40% of our SS26 range coming in at £30 or under, we are continuing to stay ahead by staying close to our customers and what they want – modern fits and a consistent focus on value, quality and style. ” 

Momentum building in men’s denim 

In menswear, M&S is sharpening its style credentials with a modernised proposition. The Spring collection introduces straighter and more tailored shapes, complemented by a wider wash palette ranging from deep indigo to soft ecru. These updates reflect a category-wide shift towards smart casualwear.

With a 12.1% share of the men’s denim market, M&S aims to further strengthen its relevance among younger male shoppers who are seeking style, dependable quality and great value. The introduction of a new £20 price point broadens entry-level accessibility while the £60 Autograph Selvedge Denim range gives customers access to premium craftsmanship at a market-leading price point. 

Mitch Hughes, Director of Menswear at M&S, said: ‘Denim at M&S Man continues to gain momentum, and this season we’ve sharpened the offer with more modern, tailored shapes and clearer price points, including our new £20 ($27.28) tier, through to £60 Autograph Japanese Selvedge”

“Combined with an expanded wash palette including overshirts and an array of new denim fits our latest collection – backed by a bold campaign – positions M&S as a stronger, more relevant choice to help broaden our customer base.’

Kidswear denim: durable, great value and backed by the Kidswear Guarantee

The Spring 26 kidswear denim range has been designed to offer reliable, everyday value for families, supported by M&S’s One Year Kidswear Guarantee. The collection includes essential fits as well as style-led shapes, including carpenter and barrelleg complemented by relaxed denim shirts, with prices starting from £10. Each product has been designed for durability, comfort and repeat wear, incorporating practical ‘grow with me’ design details such as reinforced seams and adjustable waists.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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US signs trade deal with Taiwan to reduce tariff barriers

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US signs trade deal with Taiwan to reduce tariff barriers



The United States yesterday signed a trade deal with Taiwan, with the latter agreeing to remove or reduce 99 per cent of its tariff barriers, according to the Office of the US Trade Representative (USTR).

Taiwanese exports to the United States will be taxed 15 per cent, the US government’s ‘most favoured nation’ rate, the USTR office said.

The US yesterday signed a trade deal with Taiwan, with the latter agreeing to remove or reduce 99 per cent of its tariff barriers, according to the Office of the US Trade Representative.
Taiwanese exports to the US will be taxed 15 per cent, the US government’s ‘most favoured nation’ rate.
Taiwan will make investments of $250 billion in US industries like computer chips, AI applications and energy.

The rate is equal to that levied on other US trading partners in the Asia-Pacific region.

USTR Jamieson Greer attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan’s Vice Premier Lichiun Cheng and its Government Minister Jen-ni Yang also attended the signing.

Under the deal, Taiwan will make investments of $250 billion in US industries like computer chips, artificial intelligence applications and energy. Taiwan will provide up to an additional $250 billion in credit guarantees to help smaller businesses invest in the United States.

“The Agreement on Reciprocal Trade with Taiwan will eliminate tariff and non-tariff barriers facing US exports to Taiwan, furthering opportunities for American farmers, ranchers, fishermen, workers, small businesses and manufacturers. This Agreement also builds on our longstanding economic and trade relationship with Taiwan and will significantly enhance the resilience of our supply chains, particularly in high-technology sectors,” Greer said in a USTR release.

The United States said the deal would help create several ‘world-class’ industrial parks in America to help build up domestic manufacturing of advanced technologies.

Fibre2Fashion News Desk (DS)



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US’ Eddie Bauer retail unit files chapter 11, starts liquidation

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US’ Eddie Bauer retail unit files chapter 11, starts liquidation



Eddie Bauer LLC (the “Retail Company”), operator of Eddie Bauer stores in the United States and Canada and a licensee of the Eddie Bauer brand, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with the Retail Company’s secured lenders and commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of New Jersey (the “Court”).

The RSA is designed to enable the Retail Company to move through the chapter 11 process as quickly and efficiently as possible. Through the RSA and the chapter 11 proceedings, the Retail Company will conduct liquidation sales at its stores while continuing to pursue an ongoing sale process to conduct an expeditious, value-maximizing going concern sale of all or part of its store operations. In the event of a sale, the Retail Company may depart from a full wind down of operations to facilitate a going-concern transaction. The Retail Company believes this dual-path process will best maximize value for all stakeholders.

Eddie Bauer’s retail operator has filed for Chapter 11 after signing a restructuring deal with secured lenders, launching liquidation sales while seeking a going-concern buyer for all or part of its stores.
Shops in the US and Canada will stay open during the process, while e-commerce and wholesale operations run separately and remain unaffected.

The Retail Company’s retail and outlet stores in the United States and Canada will remain open and continue serving customers as the Retail Company begins its process of winding down certain stores. The Retail Company’s e-commerce and wholesale operations are not impacted by the wind down, as they are operated by a separate licensed operator, Outdoor 5, LLC (Oved), and will continue to operate as usual. Authentic Brands Group continues to own the intellectual property associated with the Eddie Bauer brand and may license the brand to other operators. The operations of other brands in the Catalyst Brands portfolio are not affected by this filing and will continue in the normal course.

The Retail Company has filed customary motions with the Court seeking a variety of “first-day” relief, including approval of the consensual use of cash collateral to pay employee wages and benefits in the ordinary course of business and otherwise fund operations through the chapter 11 process.

Marc Rosen, CEO of Catalyst Brands, said, “Even prior to the inception of Catalyst Brands last year, the Retail Company was in a challenged situation, with declining sales, supply chain challenges and other issues. Over the past year, these challenges have been exacerbated by various headwinds, including increased costs of doing business due to inflation, ongoing tariff uncertainty, and other factors. While the leadership team at Catalyst was able to make significant strides in the brand, including rapid improvements in product development and marketing, those changes could not be implemented fast enough to fully address the challenges created over several years.”

Rosen continued, “The Retail Company has evaluated all options and taken actions to best position the Retail Company for the future, including transitioning the Retail Company’s e-commerce and wholesale operations to Outdoor 5 LLC. After careful deliberation, the Retail Company has made the difficult decision to file under chapter 11 to implement a court-supervised sale process and solicit a going concern transaction. If the Retail Company is unable to come to such an arrangement, we will commence an orderly wind down of the Retail Company’s store operations.”

Rosen concluded, “This is not an easy decision, and we are grateful to the Retail Company’s associates and customers for their loyalty and trust. We are working to minimize the impact on the Retail Company’s employees, vendors, customers and other stakeholders. However, this restructuring is the best way to optimize value for the Retail Company’s stakeholders and also ensure Catalyst Brands remains profitable and with strong liquidity and cashflow.”

Eddie Bauer’s retail store locations outside of the United States and Canada are operated by other licensees, are not included in the chapter 11 filings, and will continue operating in the ordinary course.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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