Gold and silver continue to hit record highs, with precious metal stocks showing unstoppable momentum. In the previous trading session, Iamgold (IAG) and Pan American Silver (PAAS) both rose nearly 5%, while Newmont Mining (NEM) surged over 2% to a record high.
On Monday morning, spot gold surpassed the $5,000/oz mark for the first time in history, just over 100 days after it first broke the $4,000 threshold on October 8, 2025. Market analysts pointed out that central banks increasing gold purchases, geopolitical tensions, and economic uncertainties are key macro factors driving gold prices higher in recent years. Spot silver also reached new highs during early trading, surpassing $106/oz for the first time.
Wall Street institutions are generally bullish on the outlook for precious metals. Previously, JPMorgan projected that gold could reach $5,000 by Q4 2026 and even $6,000 in the long term. Citi raised its gold price target to $5,000 and silver to $100 in a bull-case scenario over the next 0–3 months. UBS expects silver to have about 25% upside from current levels, while cautioning that prices may experience a “roller-coaster” pattern within the year.
Q4 sales and net profit exceed expectations, Ericsson (ERIC) surged nearly 9% in the previous session
Last Friday, Ericsson released a strong Q4 2025 financial report. Q4 revenue fell 5% year-over-year to SEK 69.29 billion, still surpassing analysts’ expectations of SEK 66.65 billion; net profit attributable to shareholders reached SEK 8.56 billion, also exceeding the expected SEK 6.61 billion; gross margin rose from 44.9% to 47.2%.
Adjusted EBITA for Q4 reached SEK 12.7 billion, up 24% year-over-year, significantly above analysts’ prior estimate of SEK 10.5 billion. Moreover, the adjusted EBITA margin increased to 18.3%. Net profit in the quarter was particularly notable, rising from SEK 4.9 billion in Q4 2024 to SEK 8.6 billion, almost doubling; diluted EPS increased from SEK 1.44 to SEK 2.57.
In addition, Ericsson announced plans to propose a dividend of SEK 3 per share for 2025 and a SEK 15 billion share buyback program. Analysts had previously expected a dividend of SEK 3.76 per share. It is noteworthy that this marks the first time in Ericsson’s history that such a large-scale share buyback proposal has been made.
Key cancer therapy clinical data highlight competitiveness, Gilead Sciences (GILD) rose nearly 4% in the previous session, accumulating nearly 9% gain last week
On January 21, the New England Journal of Medicine (NEJM) published the full text of Gilead Sciences’ Phase 3 ASCENT-04 study on Trodelvy combined with Keytruda for first-line treatment of PD-L1+ metastatic triple-negative breast cancer. Data showed that the combination therapy reduced the risk of disease progression or death by 35%, with median progression-free survival (PFS) significantly extended to 11.2 months. This highly competitive clinical evidence has strengthened market confidence in Gilead’s oncology pipeline as a future growth driver.
At the JPMorgan Healthcare Conference on January 12, Gilead emphasized the long-term moat of its HIV pipeline. The market is highly optimistic about the upcoming large-scale commercialization of Yeztugo—a twice-yearly HIV prevention injection approved in 2025—expected in 2026. Additionally, the company’s single-tablet regimen (Bictegravir + Lenacapavir) is progressing smoothly in clinical trials, and the CEO highlighted that Gilead faces no significant patent expirations over the next decade. This high level of earnings certainty has attracted substantial defensive capital.
Since the start of January 2026, multiple Wall Street investment banks have actively raised Gilead’s price targets. UBS upgraded Gilead from “Neutral” to “Buy,” increasing its target from $112 to $145; BofA Securities and Morgan Stanley were even more aggressive, setting targets of $154 and $150, respectively; Citi also raised its target to $140.