Gold, industrial metals, agriculture and the inflation transmission channel.
21 report(s) in the archive
Dalio says investors should own 'a bit of Bitcoin' as a hedge against U.S. debt risk, even as he still favors gold as the bigger hedge.
Bitcoin held above $77,000 after a 21% weekly rally, as Treasury Secretary Bessent's $4 billion bond buyback failed to bring yields down.
Both metals opened higher on August 20, 2026, drawing support from the same Treasury announcement that failed to hold down bond yields.
Gold and silver both rallied on August 20, 2026, as Treasury's expanded debt buyback plan and newly released FOMC minutes pushed investors toward precious metals.
Bullion held its overnight gain through the August 20 Asian session, and listed gold producers in the region tracked it higher.
Gold held above $4,500 an ounce after an overnight surge, and Asian gold mining shares rose with it in the August 20 session.
Gold and silver stage a mid-week surge, sending Wheaton Precious Metals up 11%, as fresh White House escalation against Tehran injects a geopolitical risk premium into commodity markets with policy details still undisclosed.
President Trump's announcement of an unspecified 'crushing economic operation' targeting Iran drove a sharp bid into precious metals, lifting streamers and miners. Wheaton Precious Metals jumped 11% while DRDGOLD reported Q4 results into a strengthening bullion tape.
Poland's KGHM posts higher second-quarter earnings on firm copper pricing while structural silver supply shortfalls point to operating leverage for miners; Cerrado Gold lifts output 35% but concedes cost inflation
KGHM reported stronger Q2 profit driven by robust copper prices, validating the industrial-metals thesis. Analysts point to a persistent silver supply-demand deficit as the next leg for precious metals producers, while Cerrado Gold's 35% production increase alongside rising costs illustrates the sector's central tension between volume growth and unit-cost discipline.
The miner's FY2026 disclosure frames copper as the margin engine and insists its expansion pipeline is self-funded, sharpening the structural bull case for electrification metals against a softening bulk commodity backdrop.
BHP's FY2026 results presentation credits copper with driving record group margins and stresses that growth capital is being funded internally rather than through leverage or equity issuance. The framing marks a decisive strategic rotation away from iron ore dependence and toward electrification-linked demand, with implications for the entire diversified mining complex.
Falling yields and repricing toward a Federal Reserve pause drove the FTSE 100 and continental benchmarks higher, with bullion catching a bid as the dollar's rate advantage narrowed.
European equity benchmarks ticked higher as weaker-than-expected U.S. retail sales prompted markets to trim expectations for further Federal Reserve tightening. Government bond yields eased across the curve, providing a valuation tailwind for long-duration equity sectors, while gold advanced as real-rate expectations softened.
A sharp retracement in the silver price cuts directly into the input cost base of the world's largest jewellery producer by volume, opening a gross-margin box the market had priced as a headwind.
Falling silver prices are reversing one of the most acute cost pressures on Pandora, whose product mix is heavily weighted to sterling silver. The move illustrates how commodity volatility is now a first-order driver of consumer-discretionary earnings revisions rather than a background variable.
Strong July purchases by China's official sector, combined with technical analysis pointing to the completion of the current advance's first leg, reinforce the structural case for bullion as a reserve-diversification and credibility hedge.
China Gold Market data showed robust official sector accumulation in July, while precious metals strategists argue the first phase of the cycle is completing ahead of a second, potentially more aggressive leg. The bid is being reinforced by currency credibility concerns, notably around a yen approaching the 160 threshold.
Wesdome and Aya Gold & Silver report into a firm bullion backdrop while analysts argue Albemarle retains upside with lithium at $20 per kilogram, as Stellantis weighs a Brampton plant sale amid union talks.
A cluster of resource-sector results and revised commodity assumptions point to improving cash generation across precious metals and lithium, even as automotive restructuring underscores that downstream demand remains uneven.
Derivatives flow diverged from spot as traders bought protection into unconfirmed take-private speculation at Workday and faded a 7% Copart rally.
Unusual options activity in Workday signals institutional hedging around reported Silver Lake takeover interest, while Copart's contract flow turned defensive despite a 7% advance in the shares. The pairing points to derivatives markets pricing event risk and mean reversion rather than directional conviction.
Bullion consolidates historic highs while volatility drains out of both crypto and traditional markets, leaving U.S.-Iran risk and swelling sovereign debt as the market's main unpriced tail risks.
Gold is holding firmly above $4,400 an ounce after a softer inflation print strengthened the case for policy easing, even as realized volatility across crypto and TradFi collapses to unusually subdued levels. Strategists warn the calm masks live geopolitical and fiscal risks.
A double miss against second-quarter consensus sent Pan American Silver sharply lower amid softening spot prices, while G Mining Ventures and Canada Nickel highlight a widening quality gap across the junior resource complex.
Weakness in precious metals pricing collided with operational underperformance at Pan American Silver, exposing the leverage embedded in mining equities and the fragile balance sheets of development-stage peers.
Royal Gold posts a 115% revenue surge while Coeur Mining declares an inaugural dividend on record free cash flow, confirming that the gold complex's price gains have now converted into balance-sheet transformation across the mining chain.
Second-quarter results from Royal Gold and Coeur Mining show precious metals producers and royalty holders capturing the full margin benefit of elevated bullion prices. Royal Gold's 115% revenue increase reflects both metal price leverage and portfolio expansion, while Coeur's record free cash flow and first-ever dividend mark a structural shift from balance-sheet repair to shareholder returns. Gold-copper exposed midcaps are drawing renewed institutional screening interest.
Currency and bullion markets settle into a holding pattern ahead of a US inflation print that will shape the Federal Reserve's autumn policy path, with gold's historic price plateau signaling persistent hedging demand.
The US dollar traded mixed and gold held above $4,400 an ounce as investors positioned defensively ahead of the July consumer price index release. The muted cross-asset action reflects a market unwilling to take directional risk into a data point widely viewed as decisive for the Fed's next move.
Hecla Mining reports record free cash flow and a debt-free balance sheet alongside i-80 Gold's quarterly update, even as strategists warn that persistent shelter inflation could delay the rate cuts underpinning the gold trade.
Hecla Mining posted record free cash flow with a debt-free balance sheet, and i-80 Gold reported quarterly results, capping a period of exceptional operating leverage for precious metals producers. But the macro backdrop is turning ambiguous: analysis flagged this session argues that sticky shelter inflation in the forthcoming CPI print signals inflation persistence, which would push out the Federal Reserve easing path that has been the primary driver of the bullion rally.
U.S. government debt has underperformed every major sovereign bond index except Japan since the inauguration, undermining the administration's rate-cost narrative and reinforcing gold's structural bid against the S&P 500.
A scorecard of Treasury performance since January shows U.S. sovereign debt trailing nearly all major global government bond indices, complicating the Treasury Secretary's borrowing-cost narrative. The relative-value gap is feeding directly into the gold trade, where fund commentary and strategist work argue the metal's outperformance versus the S&P 500 has considerable room left to run.
From Swiss Re and Wharf REIC to Century Aluminum, Core Natural Resources and Pacific Basin Shipping, a broad cross-market earnings wave reveals resilient commodity and insurance cash flows against faltering discretionary demand.
A dense international earnings slate spanning European insurance, Asian property, North American materials and global shipping landed in the same window, offering a rare synchronised read on the cycle. The dispersion is the story: capital-heavy, hard-asset and balance-sheet businesses are printing durable results while consumer-facing and rate-sensitive models remain under pressure.
Britain's financial regulator is preparing rules for tokenized digital assets including gold, while Schroders received Irish clearance for a tokenised money market fund.
A weaker-than-expected US payrolls report cut market-implied odds of further Fed tightening, while unresolved tensions around the Strait of Hormuz kept crude firm and gold near a seven-week high. Investors now turn to US CPI.