Central Banks’ Gold Rush Continues as Citi Predicts Price Pullback

Citigroup has issued a bearish call on gold, predicting it could drop to $2,500 or lower next year after its record-breaking rally. However, UBS senior adviser Brendan O’Connor remains bullish, maintaining a year-end price target of $3,500 for gold, citing strong fundamentals like central bank demand and geopolitical tensions. O’Connor suggests investors consider silver as an alternative, seeing 8-9% upside potential. He also recommends looking at international stocks over U.S. equities due to better valuations, and advocates for alternative investments like private credit and private equity given expected muted returns in traditional markets.

Unemployment Claims Drop, But Four-Year High Raises Questions About Job Market Health

Weekly unemployment filings fell for the first time in a month, declining by 5,000 to 245,000 in the week ending June 14. The recent rise in claims since mid-May coincides with the end of the school year, when educational workers like bus drivers and cafeteria staff can collect benefits during summer break. Despite the four-week average reaching a four-year high, 38 of 53 states showed declines last week, suggesting seasonal patterns are the main driver. However, those who lose jobs are finding it harder to get new ones, with nearly 2 million people now collecting unemployment benefits—also a four-year high—as […]

Silver Closes Above $37 for First Time in 14 Years

Brandon Sauerwein, Editor Yesterday, silver did something it hasn’t done in 14 years: closed above $37.12. This isn’t just another price milestone. It’s the breach of a resistance level that’s held firm since 2011 — through multiple bull runs, global crises, and monetary upheavals. The momentum is undeniable:  Mike Maloney has been tracking this setup for months. In his latest analysis, he reveals why this breakout could be the precursor to a move that catches most investors completely off-guard…  Silver Breaks $37 — What Happens Next? Remember when Mike predicted silver’s “slingshot move” back at $33? It just happened. Silver smashed […]

Mali Breaks Ground on Regional Gold Refinery to End Decades of Raw Ore Exports

Mali has broken ground on a new gold refinery backed by Russia’s Yadran Group and a Swiss investment company. The 200-ton capacity facility, in which Mali holds a controlling stake, represents a major shift in how the West African nation manages its gold resources. Once operational, all gold mined in Mali will be processed domestically into doré bars before export, ending decades of shipping raw gold abroad for refining. This move is part of broader mining reforms across the Sahel region aimed at capturing more value from natural resources.

Powell vs. Trump: Fed Expected to Resist Calls for Aggressive Rate Cuts

At Wednesday’s Federal Reserve meeting, officials are anticipated to maintain current interest rates at 4.25%-4.5%, but all eyes are on the quarterly “dot plot” chart that reveals each Fed member’s rate predictions. The previous dot plot showed consensus for two rate cuts in 2025, and analysts expect this guidance to remain unchanged despite significant pressure from President Trump, who wants a full percentage point reduction. Fed Chairman Jerome Powell and colleagues are weighing multiple factors including Trump’s tariff policies, trade uncertainties, and recent milder inflation data. While Trump has publicly called for cuts and hinted at forcing action, Powell appears […]

CBO Analysis: Trump Tax Cuts to Add $2.8 Trillion to National Debt

President Trump’s tax cuts package would increase federal deficits by $2.8 trillion over the next decade, according to a new Congressional Budget Office analysis that factors in economic impacts. This is higher than the earlier estimate of $2.4 trillion and includes $441 billion in additional interest payments on federal debt. The House-passed bill faces revisions in the Senate, where Republicans are proposing deeper Medicaid cuts and work requirements to offset costs. Democrats argue the tax cuts won’t pay for themselves as Republicans claim, while the bill would also leave 10.9 million more people without health insurance and cost the poorest […]

Silver Just Did Something It Hasn’t Done Since 2011

Yesterday marked a significant milestone for precious metals investors: silver closed above $37.12, a level not seen since 2011. This breakthrough represents more than just another number — it’s the confirmation of a major technical breakout that Mike Maloney predicted months ago.  The “Slingshot Move” Unfolds  Back when silver was trading in the $33 range, Mike Maloney identified what he called a “slingshot move” pattern forming in the charts. His analysis suggested that once silver broke through key resistance levels, it would accelerate rapidly through multiple price points.  That’s exactly what we’ve witnessed. In recent weeks, silver has:  Why $37.12 […]

Fed Expected to Keep Rates Unchanged as Economic Uncertainty Persists

Federal Reserve policymakers are widely anticipated to hold interest rates steady at their Wednesday meeting, continuing their cautious approach amid economic uncertainty. The central bank has kept rates in the 4.25%-4.5% range since earlier this year, as officials seek more clarity on how government policy changes—especially trade tariffs—will affect the economy. Despite initial concerns that President Trump’s tariffs could boost inflation and unemployment, the Fed has been able to maintain its current stance thanks to steady job growth and cooling inflation. With many tariffs now being negotiated rather than immediately implemented, economists have scaled back their most pessimistic forecasts. The […]

Gold Dips Ahead of Fed Decision While Middle East Tensions Provide Support

Gold prices dropped slightly on Wednesday as investors held back before the Federal Reserve’s interest rate decision. While the Fed is expected to keep rates unchanged, traders are looking for hints about future rate cuts. The ongoing Israel-Iran conflict is preventing gold prices from falling too much, as geopolitical tensions typically support gold demand. Despite the small decline, analysts expect gold to stay above $3,000 per ounce due to strong buying from central banks and Chinese investors.