Few people know exactly what was said, promised, discovered, obscured, or threatened during the tense days around the collapse of Bear Stearns and its subsequent, taxpayer-assisted absorption by JPMorgan. What is indisputable is that JPMorgan assumed Bear Stearns’ enormous and disastrous short position in silver. The bank’s response to that legacy position reshaped the silver … Read more

London’s precious metal vaults registered modest declines in February, according to data from the London Bullion Market Association (LBMA). Gold holdings dipped by 0.68%, bringing total stocks to 8,477 metric tons. Silver recorded a larger fall, decreasing 4.5% to 22,462 metric tons versus January. The LBMA, which publishes regular reports on London’s vault inventories, remains … Read more

Germany and Italy face increasing pressure to repatriate roughly $245 billion in gold that is currently stored in vaults at the U.S. Federal Reserve. Concerns have grown among European politicians and taxpayer advocacy groups after public criticisms of the Federal Reserve by President Trump. These critics worry that a tense political relationship could put foreign-held … Read more

Copper traders are racing to move shipments before President Trump’s new 50% tariff on certain imports takes effect on August 1. With U.S. futures trading at roughly a 25% premium to global prices, market participants are accelerating logistics and adjusting sourcing to lock in contracts and avoid the higher levy. To shave days off transit … Read more

Financial markets are unusually calm right now, with volatility measures for stocks, bonds and currencies all sitting at multi-month lows. The VIX “fear gauge” has fallen to its lowest level since December, while measures of Treasury volatility are close to the early‑2022 trough. That serenity may seem surprising in light of persistent risks — geopolitical … Read more

The U.S. Treasury market reacted unevenly after President Trump announced tariffs on major trading partners, as investors weighed the implications for inflation, interest rates and economic growth. Short-term yields moved sharply higher: the 2-year Treasury jumped about 6 basis points to roughly 4.28%, signaling that markets expect the Federal Reserve may keep policy rates elevated … Read more

Gold prices dropped as much as 1.4% amid a firmer US dollar and reduced demand for traditional safe-haven assets. The dollar strengthened after reports that Japan may adjust its debt levels, a development that also contributed to a rise in global bond yields. Market participants are closely watching developments in US-EU trade discussions and awaiting … Read more

There’s a potentially major shakeup brewing in the mining industry. Mining giants Rio Tinto and Glencore are reportedly exploring a potential merger valued at roughly $160 billion that could reshape the global metals landscape. If completed, the combination would create a dominant copper producer able to challenge industry leader BHP. The proposal remains in early … Read more

President Trump’s renewed emphasis on an audit of the Fort Knox gold reserve, mentioned several times during an Air Force One press briefing, has caught the attention of investors and analysts. Treasury Secretary Scott Bessent has stated that the gold holdings are audited on a regular basis and are “all present and accounted for.” Still, … Read more

San Francisco Fed President Mary Daly says the Federal Reserve has struck a sound balance between its dual mandates of maximum employment and price stability. Speaking at a weekend economics conference, she emphasized the need for monetary policy to remain flexible and responsive to changing economic conditions while maintaining equal attention to both goals. Daly … Read more