10 Jul

Does Gold Have Much Farther To Run?

Source: Clive Maund (7/10/25)

Technical Analyst Clive Maund shares his thoughts on where he believes gold is headed. 

Gold has made impressive gains so far this year, but when it spiked up to touch $3500 in the middle of April it become heavily overbought which is why it then went into a rectangular consolidation pattern that has given time for the overbought condition to fully unwind, as shown by the MACD indicator on its 6-month chart below, and has also allowed its moving averages to catch up, especially the 50-day which has now fully closed the gap with the price.

Because there is still a considerable gap with the 200-day it means that there is room for the price to break down from the Rectangle and correct back towards or to this average. In attempting to weigh the probability of this happening versus the price instead breaking out upside from the Rectangle, we need to inspect the volume pattern and volume indicators, which normally provide valuable clues in a situation like this.

However, volume and volume indicators are no longer provided by Stockcharts for the metals but we can get around this problem by using a chart for the same time period for reliable gold proxy SPDR Gold Shares, whose chart is almost identical, which does show volume and volume indicators.

So, on the 6-month chart for SPDR Gold Shares, we see that, while the volume pattern is a little hard to decipher, the Accumulation line has continued to trend higher from the April peak as the price has tracked sideways and has even made new highs in recent days.

This is bullish and implies that, rather than breaking lower into a correction, GLD and thus gold itself will instead break higher into a new upleg. If it does break lower a likely scenario is that a short, sharp drop is followed by a rapid reversal to the upside.

Zooming out now to look at gold on a longer-term 6-year log scale chart we see that it broke out early last year from a big trading range to commence a powerful uptrend — an uptrend that remains very much in force, with the price still well above the lower rail of the channel — even if it broke down from the Rectangle shown on the chart above and dropped to the $3100 level it would not violate this channel.

On this chart, we can better see just how overbought gold got last April, hence the trading range that has since formed that we looked at above.

Zooming out again via a very long-term log-scale chart going all the way back to the start of the millennium, i.e., to the year 2000, affords us an overall Big Picture perspective.

This chart makes clear that the breakout early last year from the large trading range that started to form in the middle of 2020 actually marked the breakout from the Handle of a gigantic Cup & Handle continuation pattern that started to form as far back as 2012.

This is a truly enormous consolidation pattern that certainly has the capability to support a correspondingly big bull market and as we are only about 16 months into this major new bull market, it clearly has much further to run.

In conclusion, we are looking for a breakout from the current rectangular trading range that has formed from April into another major upleg. If gold should instead break down from this range and correct back towards or to its rising 200-day moving average and the lower rail of its uptrend channel, it should then reverse back to the upside into a vigorous uptrend.

Volume indicators are suggesting that the former scenario — a breakout into another upleg from the trading range without any further corrective action first — is more likely to prevail.

 

Important Disclosures:

  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Metals Opinions
10 Jul

GBP/USD Hits Two-Week Low as Pressure Mounts

By RoboForex Analytical Department

The GBP/USD pair dropped to 1.3602 on Thursday, marking a two-week low amid a strengthening US dollar and growing concerns over the UK’s public finances.

The sell-off intensified after US President Donald Trump confirmed the imposition of 25% tariffs on goods from 14 countries, including Japan and South Korea, effective 1 August. So far, only the UK and Vietnam have secured exemptions from these new tariffs, which are in addition to existing duties on cars, steel, and aluminium.

London is now scrambling to negotiate a US deal to exclude British steel from the tariffs. Failure to do so could see the rate rise to 50%, posing a severe threat to the UK’s already struggling steel industry.

Further pressure on the pound came from a bleak forecast by the Office for Budget Responsibility (OBR), warning that public debt could exceed 270% of GDP by the early 2070s. Key drivers include an ageing population, rising healthcare and pension costs, and heightened geopolitical tensions, which may necessitate increased defence spending – adding further uncertainty to the UK’s long-term fiscal stability.

Technical Analysis: GBP/USD

H4 Chart:

  • The pair completed a downward wave to 1.3525, followed by a recovery to 1.3590
  • Today, we anticipate a narrow consolidation range near this level
  • A breakout upwards could extend the correction to 1.3657, after which a fresh decline towards 1.3520 is expected, with a longer-term target at 1.3465
  • MACD confirmation: The signal line remains below zero, indicating a firm downward trend

H1 Chart:

  • The market has finished a correction to 1.3590, with consolidation now forming
  • An upward breakout may push the pair towards 1.3656, but a subsequent drop to at least 1.3520 is likely
  • Stochastic confirmation: the signal line is below 80, trending downward towards 20.

Conclusion

The GBP/USD remains under downward pressure, with fundamental and technical factors aligning for further weakness. A short-term correction is possible, but the broader trend suggests additional declines ahead.

 

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Financial News Forex and Currency News
10 Jul

Bitcoin hit a new all-time high. NVDA reached a market cap of $4 trillion.

By JustMarkets

At the end of Wednesday, the Dow Jones (US30) Index was up 0.49%. The S&P 500 (US500) Index rose by 0.61%. The Nasdaq (US100) technology Index closed higher by 0.94%. US stocks closed higher on Wednesday as investors assessed the impact of tariff expansion on corporate earnings and future Federal Reserve policy. Minutes from the Fed’s June meeting showed that officials view the recently announced tariffs as inflationary, prompting them to delay resuming interest rate cuts that were previously planned for earlier this year. The announcement came shortly after President Trump expanded the list of countries subject to US tariffs, effective August 1, to include the Philippines, Iraq, and possibly Brazil.

Nvidia (NVDA) became the first company to reach a market value of $4 trillion. Shares of the leading chipmaker rose about 2.4% to $164, thanks to continued growth in demand for artificial intelligence technology. Nvidia’s chips and related software are considered global leaders in the creation of artificial intelligence products.

The Mexican peso strengthened above 18.6 per US dollar, reaching an 11-month high, as investors assessed the ongoing price pressure against a strong external balance. The unexpected rise in core inflation in June to 4.24%, the highest level since April 2024, caused the market to maintain expectations of cautious rate cuts by the Bank of Mexico, which allowed it to maintain a significant margin of real yield even after the June 26 decision to cut the benchmark rate by 50 basis points to 8%. In the external market, a slight recovery in the US dollar against the backdrop of renewed threats of tariffs was offset in the local market by Mexico’s progress in negotiations to delay or soften retaliatory duties.

Bitcoin (BTC/USD) reached a new record high of $112,000, as investors shifted to riskier assets amid a broad rally in the stock market. Since the beginning of the year, Bitcoin has risen by more than 18% due to sustained institutional demand, as traditional financial players increasingly embrace the world’s largest cryptocurrency. The Trump administration’s pro-cryptocurrency stance has also bolstered the digital asset market, driving fresh capital into the sector.

European stock markets were mostly higher on Wednesday. Germany’s DAX (DE40) rose by 1.42%, France’s CAC 40 (FR40) closed up 1.44%, the Spanish IBEX35 (ES35) added 1.24%, and the British FTSE 100 (UK100) closed 0.15%. On Wednesday, the DAX index continued to rise, climbing more than 1% and surpassing the 24,500-point mark, reaching a new all-time high with the support of defensive stocks, as traders await news on the progress of trade negotiations. President Trump said he would likely notify the EU of the proposed export duty rate in the coming days, adding that negotiations with the EU were progressing well. The European Commission recently reiterated its goal of reaching a framework agreement with the US on the trade dispute by the end of this week.

WTI oil prices rose slightly on Wednesday and closed at $68.4 per barrel as traders assessed an unexpected increase in US oil inventories amid renewed tensions in the Red Sea and forecasts of a decline in US production. The EIA reported a 7.1 million barrel increase in US oil inventories for the week ending July 4, contrary to expectations of a 2.1 million barrel decline. Prices were supported by renewed Houthi attacks in the Red Sea, including an attack that sank a cargo ship and killed at least four crew members.

The US natural gas (XNG/USD) prices fell 5% to below $3.2 per million British thermal units (MMBtu) on Wednesday, the lowest in six weeks, due to rising supply and high inventory levels. In July, production in the 48 contiguous US states averaged 106.7 billion cubic feet per day (bcfd), surpassing June’s record high of 106.4 bcfd. Gas inventories remain about 6% above the five-year average, and analysts expect another above-average weekly increase — the 11th in 12 weeks. Despite this surplus, demand remains high due to forecasts of hotter-than-usual weather through the end of July, leading to increased electricity consumption for air conditioning.

Asian markets traded without a single trend. Japan’s Nikkei 225 (JP225) rose by 0.33%, China’s FTSE China A50 (CHA50) added 0.18%, Hong Kong’s Hang Seng (HK50) lost 1.06%, and Australia’s ASX 200 (AU200) showed a negative result of 0.61% yesterday.

The Central Bank of Malaysia lowered its base interest rate by 25 basis points to 2.75% at its monetary policy meeting in July 2025, in line with market expectations. This was the first rate cut in five years, underscoring the central bank’s desire to support domestic economic momentum amid weakening growth prospects and rising uncertainty in global trade. In the first five months of the year, headline and core inflation averaged 1.4% and 1.9%, respectively. Meanwhile, Malaysia’s GDP grew by 4.4% year-on-year in the first quarter of 2025, in line with early estimates but below the revised growth rate of 4.9% in the previous quarter.

S&P 500 (US500) 6,263.26 +37.74 (+0.61%)

Dow Jones (US30) 44,458.30 +217.54 (+0.49%)

DAX (DE40) 24,549.56 +342.65 (+1.42%)

FTSE 100 (UK100) 8,867.02 +12.84 (+0.15%)

USD index 97.57 +0.05 (+0.05%)

News feed for: 2025.07.10

  • Japan Producer Price Index (m/m) at 02:50 (GMT+3);
  • Norway Inflation Rate (m/m) at 09:00 (GMT+3).
  • US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
  • US Natural Gas Storage (w/w) at 17:30 (GMT+3).

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News
09 Jul

The Index Almost No One Is Watching . . . But Should Be

Source: John Newell (7/7/25) 

John Newell of John Newell & Associates explains why he thinks more people should be looking at the S&P/TSX Venture Composite Index (CDNX).

There’s an old market adage: “Stocks go down in an elevator and up in a staircase.”

That sums up the S&P/TSX Venture Composite Index (CDNX) over the last 15 years, except this time, it didn’t just go down in an elevator. It got trapped in the basement, and every breakout attempt was met with rejection.

Now, it’s not just climbing, it’s breaking out. And hardly anyone’s paying attention.

The CDNX, Canada’s benchmark for early-stage resource and technology companies, has emerged from one of the longest and most painful sideways-to-down periods in its history. For over a decade, it’s been ignored by the mainstream, starved of capital, and left for dead by speculators who moved on to crypto, cannabis, AI, or just gave up.

But that’s changed. The long-term technicals are flashing green. Capital is rotating back into exploration. And the macro story, anchored by gold, copper, and the metals that power the global shift to electrification, is stronger than it’s been in years.

The Setup: Same Way Down, Same Way Up?

Pull up the long-term CDNX chart and you’ll see a dramatic elevator drop from the 2011 highs.

What followed was a decade-long churn that wore out all but the most patient investors. But the pattern that’s forming now? It looks a lot like the mirror image of the move down.

Same way down, same way up?

On the weekly chart, price has broken above long-term moving averages and resistance levels.

Technical targets are activating at 775, 1025, 1325, and 1480. And the long-term Big picture target?

3550, the level where everything started to unravel more than a decade ago.

This isn’t guesswork. It’s price memory. And markets never forget.

Amazon had 20% Corrections Too

Worried about volatility? Looking for the perfect entry? Consider Amazon.com Inc. (AMZN:NASDAQ).

Since the early 2000s, Amazon has gone through more than 15 corrections of 20% or more. Some were over 50%. That’s the price of conviction. And most investors can’t pay it.

If you want generational wealth, you don’t sit in the stands waving pom-poms, you put the pads on and step onto the field.

We celebrate Amazon, Microsoft, and Home Depot as legendary compounders. But almost no one held them through all the turbulence.

Now compare that to junior mining.

You’re not holding for 20 years, waiting on a trillion-dollar valuation. You’re hunting for a discovery, a single drill hole, or deal, that re-rates a company’s valuation in weeks. These aren’t slow burns.

They’re liftoff points.

This Isn’t Just a Rebound. It’s a Rotation.

The CDNX is heavily weighted toward the materials sector, about 40–50%, with gold and silver explorers doing most of the lifting. Base metals like copper and uranium are gaining momentum as investors wake up to the structural shortfalls in global supply.

This index doesn’t move unless real capital is coming back into exploration. And it is.

With gold now holding above $3,300 and copper emerging from a massive base, this isn’t just a bounce, it’s a rotation back to real assets. And junior miners, most of which are still trading near historic lows, are still early in that rotation.

The Venture Exchange is where the rerates happen first.

The Opportunity in One Chart

The index tells us capital is starting to flow. But if you want a more visceral example, take a look at what just happened with ArcWest Exploration Inc. (AWX:TSX.V).

In December 2024, the company was trading at $0.06 with a market cap of ~$5.5 million.

Then, in early July, they announced a $4 million drill program funded by a major.

The stock surged to $0.25 in three days, a revaluation to $22.5 million.

No results, no new resource, no discovery, just a funded drill commitment.

That’s what this part of the market can do.

At the risk of cherry-picking, Arc West shows how fast capital can reprice a stock when sentiment flips. And we’re starting to see more examples like this appear, quietly, for those paying attention.

Final Word

You hear it all the time: “If I’d just held Amazon, I’d be rich.” Sure. But how many did?

Junior mining is different. You don’t need to hold for decades. You just need to spot when a forgotten corner of the market is waking up and be early.

The TSX Venture Index is waking up. Few are watching. But for those willing to take a contrarian position, with eyes wide open, this may be the most explosive setup in the market today.

Like all great trades, it rewards action, not comfort.

 

Important Disclosures:

  1. John Newell: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  2. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

Opinions Stock Market News
09 Jul

Gold Drops Below $3,300 as Fed Rate Forecasts Shift

By RoboForex Analytical Department 

Gold prices fell below 3,300 USD per troy ounce on Wednesday, extending losses after a 1% decline the previous day. The downward pressure stemmed from the Federal Reserve’s cautious stance, which partially offset concerns over escalating trade tensions.

US President Donald Trump dismissed any further delays to tariff hikes set for 1 August, announcing additional aggressive measures. These include a 50% duty on copper imports, potential 200% tariffs on pharmaceuticals, and a 10% levy on goods from BRICS nations.

Another key factor weighing on gold was the neutral Fed outlook regarding a rate cut in July. Last week’s strong US jobs report alleviated fears of an economic slowdown, reducing expectations of imminent monetary easing.

The new tariffs could exacerbate inflationary pressures in the US, potentially limiting the Fed’s room for future rate reductions.

Investors are now awaiting the June FOMC meeting minutes, due later today, for further clues on the central bank’s policy direction.

Technical Analysis: XAU/USD

H4 Chart:

The XAU/USD pair is forming the fifth wave of a downward structure, targeting 3,233. Upon completion, a corrective wave towards 3,344 may follow before a potential resumption of declines to 3,121. This outlook is supported by the MACD indicator, whose signal line is below zero and trending sharply downward.

H1 Chart:

The pair has established a downward wave to 3,286, followed by a tight consolidation range near 3,296. Today, we anticipate a drop to 3,282, followed by a retest of 3,296 (from below). A breakout below this range could extend losses towards 3,247 – a near-term target. The Stochastic oscillator aligns with this view, with its signal line sitting below 50 and trending downward towards 20.

Conclusion

Gold remains under pressure amid shifting Fed expectations and trade uncertainties. A bearish technical structure suggests further downside potential unless key support levels hold.

 

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Financial News Metals
09 Jul

US Copper hits records on Trump’s 50% tariff threat

By ForexTime 

  • US copper hits fresh all-time highs 
  • Trump announces 50% tariffs on copper imports
  • Prices firmly bullish on D1, but RSI overbought 

Copper futures in New York surged to records on Tuesday after Trump announced a higher-than-expected 50% tariff on copper imports.

Prices jumped as high as $5.818, pushing 2025 gains to more than 36%.

Note: FXTM Copper tracks Copper futures on the New York Mercantile Exchange’s COMEX division.

The prospect of steep tariffs may fuel more buying of copper before the levies officially come into effect. However, no date has been confirmed yet. 

Still, this development could spark major supply-chain ripples through global metal markets. This is already being reflected in LME copper, which has dropped as much as 2% before later rebounding.

Note: LME (London Metal Exchange) copper serves as a global benchmark for copper prices. 

Copper prices are firmly bullish, but the Relative Strength Index (RSI) is heavily overbought.

  • BULLISH – Should $5.4 prove to be reliable support, prices may push back toward the all-time high at $5.8183 and the next psychological level at $6.0.
  • BEARISH – Weakness below $5.4 could trigger a decline back toward $5.12.
copper 5
 

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Metals Opinions
09 Jul

The RBNZ has paused its cycle of rate cuts. Trump is introducing new tariff measures.

By JustMarkets

At the end of Tuesday, the Dow Jones Index (US30) fell by 0.37%. The S&P 500 (US500) Index fell by 0.07%. The Nasdaq (US100) technology index closed higher by 0.03%. On Tuesday, US stocks were virtually unchanged as investors tried to make sense of President Trump’s mixed signals on tariffs. Trump initially postponed the return of comprehensive “Liberation Day” tariffs until August 1, but then changed course and said there would be no further extensions, further exacerbating trade instability. Markets reacted sharply to Trump’s announcement of high 50% tariffs on copper imports, causing copper futures to jump more than 10% and shares in producers such as Freeport-McMoran and Southern Copper to rise. Meanwhile, pharmaceutical stocks pared gains after Trump hinted at imposing a 200% tariff on foreign-made drugs but offered a one-year grace period.

US consumer inflation expectations for the coming year fell to 3% in June 2025 from 3.2% in May, the lowest level in five months. Meanwhile, inflation expectations for the three-year and five-year horizons remained unchanged at 3.0% and 2.6%, respectively.

European stock markets were mostly up on Tuesday. Germany’s DAX (DE40) rose by 0.55%, France’s CAC 40 (FR40) closed up 0.56%, the Spanish IBEX35 (ES35) rose by 0.03%, and the British FTSE 100 (UK100) added 0.54%. The US imposed tariffs on major Asian trading partners in addition to sectoral tariffs. Still, we excluded the EU, noting statements by EU officials that the US minimum tariff of 10% could be reached. Car manufacturers benefited from the negative impact of tariffs on Asian competitors, with BMW and Stellantis adding 2% and 3%, respectively. In addition, UniCredit added 1.9% as the EU is expected to reject the Italian government’s conditions for the acquisition of Banco BPM, increasing the likelihood of the deal going through.

WTI crude oil futures rose by 0.6% to close at $68.3 per barrel on Tuesday, hovering near a two-week high, as investors assessed the impact of new US tariffs and a larger-than-expected increase in OPEC+ production in August. President Trump’s announcement of tariffs on 14 countries raised concerns about global economic growth and oil demand. On Saturday, OPEC+ agreed to increase production by 548,000 barrels per day in August, marking the fourth consecutive monthly increase and exceeding analysts’ expectations. The move will restore nearly 80% of the 2.2 million barrels per day that eight OPEC members voluntarily cut. Meanwhile, API and EIA data on oil inventories are expected to show a decline of 2.6 million barrels for the week ending July 4, marking the sixth consecutive decline in seven weeks.

Asian markets were mostly lower yesterday. Japan’s Nikkei 225 (JP225) rose by 0.26%, China’s FTSE China A50 (CHA50) gained 0.42%, Hong Kong’s Hang Seng (HK50) added 1.09%, and Australia’s ASX 200 (AU200) showed a positive result of 0.02%.

In China, consumer prices rose slightly in June after four months of decline, indicating continued high deflationary pressure. Meanwhile, producer prices experienced their sharpest decline in nearly two years amid fierce competition among Chinese companies, persistently weak domestic demand, and growing risks of tariffs.

The New Zealand dollar fell to $0.598 on Wednesday, its lowest level in two weeks, after the Reserve Bank of New Zealand (RBNZ) paused its cycle of interest rate cuts but signaled that further easing was likely if price pressures eased. The central bank kept its official refinancing rate at 3.25%, as expected, after six consecutive cuts since August 2024, when it first lowered the rate since March 2020. Policymakers expect rates to continue falling, in line with May forecasts, provided that medium-term inflation continues to decline. Markets also expect that the ongoing economic weakness will allow the RBNZ to make at least one more rate cut at the end of this year.

S&P 500 (US500) 6,225.52 −4.46 (−0.07%)

Dow Jones (US30) 44,240.76 −165.60 (−0.37%)

DAX (DE40) 24,206.91 +133.24 (+0.55%)

FTSE 100 (UK100) 8,854.18 +47.65 (+0.54%)

USD index 97.51 +0.03 (+0.03%)

News feed for: 2025.07.09

  • China Consumer Price Index (m/m) at 04:30 (GMT+3);
  • China Producer Price Index (m/m) at 04:30 (GMT+3);
  • New Zealand RBNZ Interest Rate Decision at 05:00 (GMT+3);
  • New Zealand RBNZ Rate Statement at 05:00 (GMT+3);
  • UK FPC Meeting Minutes at 12:30 (GMT+3);
  • Mexico Inflation Rate (m/m) at 15:00 (GMT+3);
  • US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
  • US FOMC Meeting Minutes at 21:00 (GMT+3).

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News
09 Jul

From glass and steel to rare earth metals, new materials have changed society throughout history

By Peter Mullner, Boise State University 

Many modern devices – from cellphones and computers to electric vehicles and wind turbines – rely on strong magnets made from a type of minerals called rare earths. As the systems and infrastructure used in daily life have turned digital and the United States has moved toward renewable energy, accessing these minerals has become critical – and the markets for these elements have grown rapidly.

Modern society now uses rare earth magnets in everything from national defense, where magnet-based systems are integral to missile guidance and aircraft, to the clean energy transition, which depends on wind turbines and electric vehicles.

The rapid growth of the rare earth metal trade and its effects on society isn’t the only case study of its kind. Throughout history, materials have quietly shaped the trajectory of human civilization. They form the tools people use, the buildings they inhabit, the devices that mediate their relationships and the systems that structure economies. Newly discovered materials can set off ripple effects that shape industries, shift geopolitical balances and transform people’s daily habits.

Materials science is the study of the atomic structure, properties, processing and performance of materials. In many ways, materials science is a discipline of immense social consequence.

As a materials scientist, I’m interested in what can happen when new materials become available. Glass, steel and rare earth magnets are all examples of how innovation in materials science has driven technological change and, as a result, shaped global economies, politics and the environment.

A diagram showing red arrows, labeled 'politics in' 'society in' 'environment in' 'technology in' etc, leading to a box labeled 'innovation' with arrows pointing away from that box with the same labels but 'out' instead of 'in.'
How innovation shapes society: Pressures from societal and political interests (orange arrows) drive the creation of new materials and the technologies that such materials enable (center). The ripple effects resulting from people using these technologies change the entire fabric of society (blue arrows).
Peter Mullner

Glass lenses and the scientific revolution

In the early 13th century, after the sacking of Constantinople, some excellent Byzantine glassmakers left their homes to settle in Venice – at the time a powerful economic and political center. The local nobility welcomed the glassmakers’ beautiful wares. However, to prevent the glass furnaces from causing fires, the nobles exiled the glassmakers – under penalty of death – to the island of Murano.

Murano became a center for glass craftsmanship. In the 15th century, the glassmaker Angelo Barovier experimented with adding the ash from burned plants, which contained a chemical substance called potash, to the glass.

The potash reduced the melting temperature and made liquid glass more fluid. It also eliminated bubbles in the glass and improved optical clarity. This transparent glass was later used in magnifying lenses and spectacles.

Johannes Gutenberg’s printing press, completed in 1455, made reading more accessible to people across Europe. With it came a need for reading glasses, which grew popular among scholars, merchants and clergy – enough that spectacle-making became an established profession.

By the early 17th century, glass lenses evolved into compound optical devices. Galileo Galilei pointed a telescope toward celestial bodies, while Antonie van Leeuwenhoek discovered microbial life with a microscope.

A large round, convex glass lens mounted on a metal stand, with a technician wearing scrubs looking at it.
The glass lens of the Vera Rubin Observatory, which surveys the night sky.
Large Synoptic Survey Telescope/Vera Rubin Observatory, CC BY

Lens-based instruments have been transformative. Telescopes have redefined long-standing cosmological views. Microscopes have opened entirely new fields in biology and medicine.

These changes marked the dawn of empirical science, where observation and measurement drove the creation of knowledge. Today, the James Webb Space Telescope and the Vera C. Rubin Observatory continue those early telescopes’ legacies of knowledge creation.

Steel and empires

In the late 18th and 19th centuries, the Industrial Revolution created demand for stronger, more reliable materials for machines, railroads, ships and infrastructure. The material that emerged was steel, which is strong, durable and cheap. Steel is a mixture of mostly iron, with small amounts of carbon and other elements added.

Countries with large-scale steel manufacturing once had outsized economic and political power and influence over geopolitical decisions. For example, the British Parliament intended to prevent the colonies from exporting finished steel with the iron act of 1750. They wanted the colonies’ raw iron as supply for their steel industry in England.

Benjamin Huntsman invented a smelting process using 3-foot tall ceramic vessels, called crucibles, in 18th-century Sheffield. Huntsman’s crucible process produced higher-quality steel for tools and weapons.

One hundred years later, Henry Bessemer developed the oxygen-blowing steelmaking process, which drastically increased production speed and lowered costs. In the United States, figures such as Andrew Carnegie created a vast industry based on Bessemer’s process.

The widespread availability of steel transformed how societies built, traveled and defended themselves. Skyscrapers and transit systems made of steel allowed cities to grow, steel-built battleships and tanks empowered militaries, and cars containing steel became staples in consumer life.

Bright hot metal pouring out of a large metal furnace.
White-hot steel pouring out of an electric arc furnace in Brackenridge, Penn.
Alfred T. Palmer/U.S. Library of Congress

Control over steel resources and infrastructure made steel a foundation of national power. China’s 21st-century rise to steel dominance is a continuation of this pattern. From 1995 to 2015, China’s contribution to the world steel production increased from about 10% to more than 50%. The White House responded in 2018 with massive tariffs on Chinese steel.

Rare earth metals and global trade

Early in the 21st century, the advance of digital technologies and the transition to an economy based on renewable energies created a demand for rare earth elements.

A wind turbine with three thin blades rising out of the water.
Offshore turbines use several tons of rare earth magnets to transform wind into electricity.
Hans Hillewaert/Wikimedia Commons, CC BY-SA

Rare earth elements are 17 chemically very similar elements, including neodymium, dysprosium, samarium and others. They occur in nature in bundles and are the ingredients that make magnets super strong and useful. They are necessary for highly efficient electric motors, wind turbines and electronic devices.

Because of their chemical similarity, separating and purifying rare earth elements involves complex and expensive processes.

China controls the majority of global rare earth processing capacity. Political tensions between countries, especially around trade tariffs and strategic competition, can risk shortages or disruptions in the supply chain.

The rare earth metals case illustrates how a single category of materials can shape trade policy, industrial planning and even diplomatic alliances.

Six small piles of rock
Mining rare earth elements has allowed for the widespread adoption of many modern technologies.
Peggy Greb, USDA

Technological transformation begins with societal pressure. New materials create opportunities for scientific and engineering breakthroughs. Once a material proves useful, it quickly becomes woven into the fabric of daily life and broader systems. With each innovation, the material world subtly reorganizes the social world — redefining what is possible, desirable and normal.

Understanding how societies respond to new innovations in materials science can help today’s engineers and scientists solve crises in sustainability and security. Every technical decision is, in some ways, a cultural one, and every material has a story that extends far beyond its molecular structure.The Conversation

About the Author:

Peter Mullner, Distinguished Professor in Materials Science and Engineering, Boise State University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Economics & Fundamentals Opinions
08 Jul

Gold: From Ancient Treasures to Tomorrow’s Wealth Standard

Source: Brian Hicks (7/7/25) 

Brian Hicks of Wealth Daily shares his thoughts on gold’s importance and how he believes NatGold Digital Ltd. represents a great opportunity to capitalize on gold.

Throughout human history, great societies have constructed their wealth upon golden foundations — from Roman vaults and imperial Chinese treasuries to Spanish vessels during the golden age of exploration.

In our modern era, gold transcends mere ornaments or ingots; it represents global power dynamics, international reserve banking, and a stabilizing force against currency uncertainty. Within this unfolding narrative, my bold projection — $16,402 per ounce — reflects both historical patterns and calculated foresight.

Let me explain why precious metal markets are poised for an unprecedented upward trajectory, examining the evidence. . .

Financial Titan’s Resource Stockpiling

Investment legend Ray Dalio, who established Bridgewater Associates, consistently advocates for gold as protection against monetary devaluation and institutional vulnerabilities. His Bridgewater funds recently expanded physical gold holdings substantially, directing $319 million during the year’s first quarter alone.

His reasoning stems from historical understanding: tracking gold’s evolution. Dalio’s perspective aligns perfectly with our analysis: Gold’s thousand-year journey now intersects with dollar weakness, mounting international liabilities, and transforming global hierarchies. His guiding principle resonates: Gold exists “independent of any one nation’s economy.”

Wealthy Investors Securing Mining Interests

This precious metal pursuit extends beyond major investment firms. Ultra-wealthy individuals are claiming their stakes.

  • John Paulson — renowned from the 2008 financial meltdown — anticipates $5,000 gold within three years. He’s invested $1 billion into Alaska’s Donlin Gold venture, targeting one of Earth’s richest undeveloped reserves. His analysis suggests that central banking institutions pivoting from traditional currencies drives this movement.
  • Thomas Kaplan — mining entrepreneur and Donlin participant through NovaGold Resources Inc. (NG:TSX; NG:NYSE.MKT) — supports this optimistic outlook. His Kaplan Doctrine advises investing in premium, expandable deposits within secure jurisdictions. This pattern reveals a broader shift: Financial elites transitioning from passive bullion ownership to enhanced exposure via mining operations.

I’m thoroughly convinced my $16,402 price target isn’t mere speculation — it’s a calculated strategy.

Reserve Banks: Contemporary Gold Guardians

National reserve institutions propel gold’s market ascension. A January 2025 HSBC survey spanning 72 central banks discovered over one-third planned to boost gold reserves — with none indicating reductions.

Bloomberg confirms: “Central banks will keep buying gold in a push to diversify away from paper currencies amid political and economic upheaval.”

BRICS nations (Brazil, Russia, India, China, South Africa) spearhead this accumulation. Russia has amassed reserves since its 2022 asset confiscation — a cautionary lesson about traditional currency risks. China and India, culturally connected to gold, have expanded both national reserves and domestic bullion demand. As one market observer noted, gold increasingly serves as the “de-dollarization tool” against Western financial influence.

BRICS Alliance and Gold-Centered Economic Systems

The BRICS coalition represents more than trade partnerships and political alignment — it signals monetary strategy evolution. India, China, Russia, and additional members explore de-dollarized trade settlements, potentially incorporating gold-backed frameworks. While a formal “gold-based currency” partnership remains aspirational, the momentum grows undeniably.

BRICS participants actively expand gold reserves for financial security. A popular phrase circulates among their strategists: “When U.S. paper whispers, BRICS gold roars.” As international power structures evolve, gold assumes a transformative role in global finance.

The Weakening Foundation: Diminishing American Currency

The inverse relationship between gold and dollar values follows predictable patterns — yet accelerates now. The dollar confronts:

  • Exploding federal obligations (approaching 140% of GDP)
  • Persistent government shortfalls
  • Federal Reserve independence challenges, heightening inflation worries
  • Recurring international commerce disputes, undermining dollar confidence

These circumstances create ideal conditions for gold’s ascendancy. Our $16,402 forecast depends on continued dollar deterioration — a narrative seemingly shared by Dalio, Paulson, and monetary authorities worldwide.

Eastern Hemisphere’s Consumer Gold Enthusiasm

Asia — the global gold epicenter — maintains impressive momentum. Singapore Bullion Market Association reporting emphasizes regional consumer appetite. Yet our pathway toward $16,402 isn’t fantasy—it’s a narrative where:

Our $16,402 projection captures gold’s multifaceted convergence, representing more than mere valuation but fundamental significance. Amid currency vulnerability and global transformation, gold transcends simple hedging — it embodies historical continuity.

Now, considering gold’s trajectory toward $16,402 per ounce (many analysts project even higher valuations), NatGold Digital Ltd. represents exceptional opportunity.

Consider this crucial point: As gold appreciates, its fundamental worth increases. However, extraction expenses remain relatively stable, meaning NatGold token values will skyrocket dramatically . . . alongside your investment returns.

Let me elaborate…

How NatGold Tokens Enable Ownership Before Wall Street’s Discovery

Imagine obtaining shares in America’s subterranean gold wealth — before extraction begins. Imagine preceding Wall Street, exchange listings, and media coverage. And imagine this investment representing not just precious metal . . . but American prosperity itself.

This embodies NatGold Tokens — pioneering blockchain-secured gold certificates directly linked to verified, untouched, domestic gold deposits within American borders. This isn’t conventional stock ownership, exchange-traded funds, or another digital currency. It represents digital gold’s evolutionary leap — and following recent American economic policy shifts, could soon become central to national financial strategy.

Presidential Initiative: Establishing $12 Trillion National Investment Fund

Earlier this year, Executive Order 14241 received presidential authorization, enabling development across 640 million federal acres containing approximately $100 trillion in untapped mineral resources.

This encompasses substantial copper, uranium, rare earth elements, and crucially: gold reserves.

The presidential vision?

Creating an American Sovereign Wealth Fund utilizing tokenized natural assets — finally monetizing underground national treasures without decades-long permitting delays.

Simply stated, America is beginning to digitize its inherent wealth, with NatGold pioneering this transformation.

Digitizing Inaccessible Resources: Major Deposits Nationwide

For generations, America has possessed some earth’s most valuable — yet unavailable — gold deposits.

  • Northern Dynasty Minerals Ltd.’s (NDM:TSX; NAK:NYSE.MKT) Pebble Creek (Alaska) — Among the world’s largest undeveloped gold-copper resources, delayed through environmental regulatory challenges.
  • Nova Gold Resources Inc.’s (NG:NYSE) Donlin Gold (Alaska) — Contains over 39 million gold ounces, with regulatory hurdles preventing development across decades.
  • Ruth, Nevada — Premium gold concentration zone with billions in buried assets, largely abandoned through outdated extraction regulations.

These represent merely several “stranded resources” NatGold aims to unlock, not through physical extraction but digital tokenization. Each NatGold Token is supported by an authentic geological assessment verified through NI 43-101 protocols, providing token holders with a legal interest in these assets. This represents gold ownership without equipment, permits, or litigation, and zero environmental impact.

Gold: Returning as American Monetary Foundation

Since 1971, American currency has operated independently, without gold backing. Yet historical patterns often circle back. With global debt expansion, persistent inflation, and competing economies like BRICS planning gold-backed currencies, America quietly reintroduces gold into economic discussions.

Presidential conversations have included potential new gold standards — utilizing blockchain technology. Consequently, gold ownership becomes not merely prudent, but potentially fundamental to the American fiscal framework. Through NatGold Tokens, everyday investors participate before institutional recognition.

 

Important Disclosures:

  1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NatGold Digital Ltd.
  2. Brian Hicks: I, or members of my immediate household or family, own securities of: NatGold Digital Ltd. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  3. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Metals Opinions
08 Jul

The RBA unexpectedly kept interest rates unchanged. Oil prices are rising despite increased OPEC+ production.

By JustMarkets 

At the end of Monday, the Dow Jones index (US30) fell by 0.94%. The S&P 500 Index (US500) fell by 0.79%. The Nasdaq (US100) tech index closed down 0.92%. The US stocks fell sharply on Monday as President Trump reignited trade tensions by announcing new tariffs and extending the deadline for their implementation to August 1. Trump posted letters on social media announcing the introduction of 25% tariffs on imports from Japan and South Korea, as well as additional duties of up to 40% on goods from countries such as Malaysia, Myanmar, and South Africa. He also warned of additional 10% tariffs for countries joining the “anti-American BRICS policy” as the bloc holds a summit in Brazil. Treasury Secretary Scott Bessent confirmed that new trade announcements are expected within 48 hours. Shares in trade-sensitive companies, such as Toyota (-3.9%), Honda (-3.8%), Apple (-1.7%), and AMD (-2.2%), fell. In comparison, Tesla fell 6.8% after Elon Musk’s announcement of a new political party sparked a negative reaction from investors

European stock markets were mostly up on Monday. Germany’s DAX (DE40) rose by 1.20%, France’s CAC 40 (FR40) closed up 0.35%, the Spanish IBEX35 (ES35) added 0.73%, and the British FTSE 100 (UK100) closed down 0.19% yesterday. Notable leaders included Allianz, Münchener Rück, Deutsche Bank, Commerzbank, Airbus, and Siemens Energy, which gained between 0.8% and 1.1%. German industrial production rose by 1.2% month-on-month in May, exceeding expectations of no change and recovering from a revised 1.6% decline in April.

Annual inflation in Sweden rose to 0.8% in June 2025, accelerating from 0.2% in May and exceeding expectations of a rise to 0.4%. This is the highest figure since February, but still well below the Riksbank’s target of 2%. Every month, consumer prices rose 0.5% — the most in four months — after rising 0.1% in May. Meanwhile, the fixed interest rate CPI (CPIF), the Riksbank’s target, rose to 2.9% year-on-year in June, the sharpest increase since February, compared with 2.3% in May and above forecasts of 2.5%.

WTI oil prices rose by 1.4% to $67.90 per barrel on Monday, rebounding from previous lows despite a larger-than-expected increase in OPEC+ production and concerns about possible US tariffs. In a sign of confidence in demand, Saudi Arabia raised its August Arab Light oil price to a four-month high for Asia. Meanwhile, markets are closely watching US trade policy, as Trump’s tariffs on certain countries are set to take effect on August 1. Although oil remains supported by supply shortages, tariff uncertainty continues to cloud the outlook for the second half of 2025.

On Monday, silver prices fell about 1% to $36.50 an ounce, retreating from 13-year highs, as President Donald Trump effectively extended the deadline for retaliatory tariffs, weakening demand for safe-haven currencies. Treasury Secretary Scott Bessent said tariffs would return to April 2 levels for countries that had not reached a deal with the US by that date, allowing more time for trade negotiations to proceed. So far, only China, the UK, and Vietnam have reached partial agreements with Washington.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) fell by 0.56%, China’s FTSE China A50 (CHA50) declined by 0.42%, Hong Kong’s Hang Seng (HK50) lost 0.12%, and Australia’s ASX 200 (AU200) showed a negative result of 0.16%.

At its July meeting, the Reserve Bank of Australia (RBA) maintained its cash rate at 3.85%, contradicting market forecasts of a 25-basis-point rate cut. The central bank cited a more balanced outlook for inflation risks and strong labor market conditions as the main reasons for maintaining its current policy. Nevertheless, the board remains cautious about the outlook amid uncertainty about aggregate demand and supply. Policymakers noted that they would wait for additional data to confirm that inflation is on track to return to the 2% target in a sustained manner.

In New Zealand, the Reserve Bank (RBNZ) is widely expected to keep rates unchanged, pausing its aggressive cuts for the first time since August last year. Markets currently expect at least one more 25-basis-point cut at the end of this year due to the risks of slower growth linked to the economic impact of US tariffs.

S&P 500 (US500) 6,229.98 −49.37 (−0.79%)

Dow Jones (US30) 44,406.36 −422.17 (−0.94%)

DAX (DE40) 24,073.67 +286.22 (+1.20%)

FTSE 100 (UK100) 8,806.53 −16.38 (−0.19%)

USD index 97.53 +0.35 (+0.36%)

News feed for: 2025.07.08

  • Australia NAB Business Confidence (m/m) at 04:30 (GMT+3);
  • Australia RBA Rate Statement at 07:30 (GMT+3);
  • Australia RBA Interest Rate Decision at 07:30 (GMT+3);
  • Australia RBA Press Conference at 08:30 (GMT+3);
  • German Trade Balance (m/m) at 09:00 (GMT+3);
  • Canada Ivey PMI (m/m) at 17:00 (GMT+3).

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Economics & Fundamentals Financial News
← Previous Page
Next Page →