Gold and Silver Industry & Investing News

The BRICS nations met in Brazil for a two-day summit where they criticized rising tariffs and military actions in the Middle East, without directly naming the U.S. or President Trump. Key leaders Xi Jinping and Vladimir Putin were notably absent from the in-person meeting. The group condemned attacks on Iran and the humanitarian crisis in Gaza, while carefully avoiding criticism of Russia’s actions in Ukraine. In response, Trump threatened to impose an additional 10% tariff on any country aligning with what he called “Anti-American policies of BRICS.” Brazil, as host, tried to focus on less controversial topics like trade and...

The U.S. dollar strengthened slightly on Monday as markets await clarity on President Trump’s tariff plans. A 90-day moratorium on “Liberation Day” tariffs ends Wednesday, with higher rates set to take effect August 1. Trump announced he’ll name about a dozen countries receiving letters with increased levies and threatened an additional 10% tariff on BRICS-aligned nations. Despite the dollar’s recent gains, it remains near multi-year lows, having declined 10% this year as investors question its safe-haven status.

Treasury yields showed minimal movement Monday, with the 10-year yield rising slightly to 4.364% and the 2-year yield dipping to 3.874%. The stability comes as investors digest the Trump administration’s decision to extend the tariff reprieve deadline from this week to August 1. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent confirmed that countries without trade deals will see tariffs return to April 2 levels if agreements aren’t reached by the new deadline. Adding to trade tensions, President Trump threatened new 10% tariffs on BRICS nations (Brazil, Russia, India, and China), who responded with criticism of U.S. protectionist policies....

Gold experienced a notable decline on Monday, falling 0.9% to $3,303.93 per ounce amid dollar strength and trade uncertainty. The dollar’s 0.2% rise against other currencies made gold more expensive for international buyers, contributing to the pullback. Strong U.S. economic data, including solid job growth, has reduced expectations for immediate Federal Reserve rate cuts, further pressuring gold. President Trump’s approaching July 9 deadline for tariff negotiations adds another layer of complexity, with 10% base tariffs on most countries and up to 50% reciprocal rates scheduled for August 1. Trump also threatened an additional 10% tariff on BRICS nations. While Trump...

Treasury Secretary Scott Bessent believes dollar-backed stablecoins could help maintain the US dollar’s dominance as the world’s reserve currency, much like the petrodollar system did in the 1970s. He sees stablecoin regulation as a potential game-changer for the 2020s. However, this vision faces resistance from international financial leaders and central banks. Countries like Hong Kong and South Korea are exploring their own currency-backed stablecoins, while European and global banking officials worry that private digital currencies could undermine monetary policy and public control over money.

The U.S. Dollar has fallen 10% this year and hit a 3-year low, with UBS calling it “unattractive” and predicting further declines as the economy slows. The currency faces pressure from mounting concerns about the growing U.S. deficit and uncertainty surrounding tariff policies. This weakness is already impacting international trade, with vendors across Latin America and Asia requesting that American importers settle transactions in alternative currencies such as euros, pesos, and renminbi to protect themselves from dollar volatility.

Oil markets retreated Thursday amid a confluence of bearish factors. Prices declined as uncertainty grew over U.S. tariff policies, with a 90-day pause ending July 9th and trade agreements with the EU and Japan still unresolved. This demand concern coincides with OPEC+ producers planning to increase supply by 411,000 barrels per day. China’s service sector showed its weakest expansion in nine months, signaling reduced demand from the world’s largest oil importer. U.S. crude inventories unexpectedly rose by 3.8 million barrels, contrary to analyst predictions of a drawdown. These factors outweighed Wednesday’s price gains driven by Iran’s nuclear tensions and a...

Two major Wall Street banks have dramatically different predictions for gold prices. Citigroup expects gold to crash 25% to $2,500, while JPMorgan forecasts a 20% surge to $4,000. The key disagreement centers on Chinese insurance companies’ new ability to invest in gold – Citi sees this as temporary support masking weakness, while JPMorgan views it as the start of broader institutional adoption. The $3,320 price level being tested now could determine which bank is right. Both banks might be correct on different timelines: range-bound trading around $3,100-$3,500 in 2025 (Citi’s view), followed by a potential breakout toward $4,000 in 2026...