Silver Rises Over 120% YTD 
Major central banks are taking divergent policy paths as U.S. tariffs create different challenges across the global economy. While the U.S. Federal Reserve holds rates steady due to inflation concerns, the Swiss National Bank is considering negative rates to combat currency strength, and the Bank of Japan maintains a potential hiking bias despite growing caution. The article outlines the current positions of ten developed-market central banks, with many European and Pacific nations cutting rates or signaling future cuts while dealing with the disinflationary effects of stronger currencies against the dollar and the broader impact of trade tensions.
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Gold Is Up 41% From a Year Ago. The Fed Can’t Stop It
Gold is trading at $4,648/oz — up 41% from a year ago, down 14% from January’s record. Both numbers are true. The one that matters is the 41%. It held through a war, three hawkish Fed holds, and the most fractured FOMC vote since 1992. Here’s why that gap between the record and today’s price is a floor, not a warning.
May 1, 2026
