The Silver Institute: World Silver Survey 2025

The Silver Institute’s comprehensive World Silver Survey 2025 reveals another year of historic deficit for the white metal, marking the fifth consecutive year of supply shortages. The 92-page report shows the global silver market recorded a deficit of 148.9 million ounces in 2024 (down from 200.6 million ounces in 2023), with industrial demand reaching a new record high of 680.5 million ounces. Key highlights include: Silver prices averaged $28.27/oz in 2024, up 21% year-over-year and the highest since 2012 Industrial fabrication hit another all-time high, driven by solar panels, 5G technology, and automotive electronics Global mine production rose modestly by […]

15 States and Cities Raise Minimum Wage Starting July

Starting July 1, 2025, minimum wage workers in 15 states and cities will see pay increases, with Alaska, Oregon, and Washington D.C. leading the way. Over 880,000 workers will collectively earn $397 million more annually. Alaska’s minimum wage jumps from $11.91 to $13, Oregon’s rises from $14.70 to $15.05, and D.C.’s increases from $17.50 to $17.95. Major cities like Chicago, Los Angeles, and San Francisco will also see increases. While 30 states now exceed the federal minimum of $7.25, some lawmakers are attempting to limit voter-approved wage hikes, as seen in Missouri and Nebraska.

Oil Plunges 12% Weekly as Iran-Israel Ceasefire Removes Supply Fears

Oil prices are heading for their biggest weekly drop in over two years, falling about 12% this week. Despite rising slightly on Friday, Brent crude sits around $68 per barrel and WTI at $66. The sharp decline came after the Iran-Israel ceasefire announcement removed fears of supply disruptions, eliminating the risk premium that had briefly pushed prices above $80. With geopolitical tensions easing, the market has refocused on supply-demand fundamentals, including upcoming OPEC+ production decisions and strong inventory drawdowns in key regions.

Global Copper Inventories Plummet 80% as US Tariff Fears Drive Historic Supply Squeeze

Copper prices are surging as traders rush to ship metal to the US before potential import tariffs take effect. The scramble has drained global inventories by nearly 80% this year, creating severe shortages that are driving up costs for buyers. Goldman Sachs warns the situation will worsen before September, when tariff decisions are expected. The shortage is causing major price spikes, with some copper contracts trading at their highest premiums in four years.

Gold Miners Tumble as Bullion Retreats from Record High

Gold mining stocks pulled back Friday after a strong 2024 rally. Newmont fell 2.2% in premarket trading—the S&P 500’s worst performer—as gold prices dropped 1.5% to $3,296.40 per ounce. Gold hit a record high on June 13 during global trade tensions but has since fallen 4.5% as investors shifted back to riskier assets. Despite Friday’s decline, Newmont remains up 59% year-to-date, highlighting how mining stocks closely follow gold’s volatile price swings.

Treasury Yields Rise as May Inflation Exceeds Expectations at 2.7%

U.S. Treasury yields edged higher following stronger-than-expected inflation data. The 10-year yield held steady at 4.253%, while the 2-year yield rose 2 basis points to 3.732%. Core inflation, which excludes food and energy, climbed to 2.7% in May—higher than the 2.6% economists predicted and up from April’s 2.5%. The inflation surprise comes as President Trump escalates tensions with Fed Chairman Jerome Powell, criticizing the Fed’s cautious stance on interest rates amid tariff uncertainty. Trump claims to have a shortlist of replacements and may announce Powell’s successor as early as September, well before Powell’s term expires in 2026.

Gold Tumbles to One-Month Low as Geopolitical Risks Ease

Gold prices dropped over 1% on Friday to their lowest level in nearly a month, falling to $3,282.68 per ounce. The decline was driven by easing global tensions, including the Iran-Israel ceasefire and progress on U.S.-China trade discussions. Gold has lost more than 2% this week and fallen over $200 from its April record high. Investors are now watching for U.S. inflation data that could influence future interest rate decisions. Other precious metals also declined, with platinum falling nearly 6% after recently hitting its highest level since 2014.