AuAltinavcisiPrecious metals news and analysis

Metals markets

DOGE Commission’s First Month: USAID Bears Brunt of Musk’s $8.5B Federal Cuts

DOGE Commission’s First Month: USAID Bears Brunt of Musk’s $8.5B Federal Cuts

Analysis of 1,127 records from Elon Musk’s DOGE commission reveals $8.5 billion in claimed federal budget cuts across 39 agencies in its first month.

USAID has been hit hardest with $6.5 billion in cuts, followed by the Department of Education at $502 million and Social Security Administration at $232 million.

However, questions remain about the commission’s reporting accuracy and the timeline over which these “savings” would actually occur.

Eight more from the desk

Other dispatches from the bullion wire.

US Treasury Yields Jump as Hot Jobs Data Fuels Rate ExpectationsMetals marketsBig Tax Breaks, Bigger Deficits: What’s in the House’s Mega-Legislation
Could This Mega Deal Create Mining's New Giant?Metals marketsUS Brokers Mineral Deal in Congo as Part of Strategic Metals Push
Long-Term Concerns Linger After Treasury Market DisruptionMetals marketsLong-Term Concerns Linger After Treasury Market Disruption
Holiday Shopping Surge Caps Strong Year for U.S. Retail Despite Economic HeadwindsMetals marketsHoliday Shopping Surge Caps Strong Year for U.S. Retail Despite Economic Headwinds
Gold Imports from Switzerland Up 1,100% on Trade ConcernsMetals marketsMetal Markets Brace for Reshuffling as US Tariffs Target Key Allies
Markets Doubt Trump Can Balance Tax Cuts With Spending ReductionsMetals marketsMarkets Doubt Trump Can Balance Tax Cuts With Spending Reductions
Mastercard: Holiday Retail Climbs 3.8% Despite Economic ConcernsMetals marketsMastercard: Holiday Retail Climbs 3.8% Despite Economic Concerns
Budget Reality vs. Rhetoric: Federal Spending Rises Despite Musk’s Cost-Cutting PromisesMetals marketsBudget Reality vs. Rhetoric: Federal Spending Rises Despite Musk’s Cost-Cutting Promises