Research & Analysis

Gold Holds $4,400 as Copper Nears Record on Grasberg Outage

Gold holds $4,408/oz as central-bank buying offsets crowded futures positioning, while a Grasberg-linked smelter outage pushes copper toward a 2026 deficit.

Tech Rally Meets July PPI Test as Small Caps Try to Join In

Tech (XLK +1.49%) and small caps (IWM +0.57%) lead an AI-earnings-driven rally as equities await today's July PPI print, whose consensus estimates conflict across data providers ahead of Applied Materials' earnings.

Gold Holds $4,408 as Managed-Money Longs Hit 130,766

Gold holds $4,408/oz as COMEX Managed Money net longs jump to 130,766 contracts, Brent slips to $88.37 on a Hormuz standoff, and copper sits near record highs after a Grasberg-linked smelter outage.

July CPI: What It Means

July CPI rose 0.1% m/m and held at 3.4% y/y, matching consensus, while core CPI eased to 2.5% annually, the lowest since early 2026.

CPI Day Tests a Two-Session Tech Pullback as Energy Leads

S&P 500 fell for a second session as capital rotated into energy and utilities ahead of July CPI, with Kalshi pricing a cooler print than consensus.

Warsh's Fed Split 9-3 Hawkish Ahead of July CPI Print

July CPI lands today as the swing data point for a Fed caught between a 9-3 hawkish FOMC split and the first payroll contraction in over a year. Here is the range of paths for Chair Warsh's committee.

Bitcoin ETF Inflows Hit $853.5M as BTC Holds Five-Week Range

Bitcoin ETFs Draw $853M as BTC Stays Range Bound

Spot Bitcoin ETFs pulled in $853.5 million over five sessions, nearly five times July's total, yet BTC remains locked in a $62,000 to $66,000 range as OTC selling offsets the demand.

July FOMC: Fed Held at 3.50%-3.75% on a 9-3 Hawkish Split

The Fed held rates at 3.50%-3.75% on a 9-3 vote, with three hawkish dissents. Core PCE and CPI remain well above target as gold and silver hit records.

Gold Nears $4,450, Silver $65 on Record Central Bank Buying

GLD holds near $400.96 and SLV near $58.55 after a sharp two-week breakout, with record central bank buying providing the floor ahead of Wednesday's CPI print.

Stocks Await CPI as Tech Slides, Energy Leads

Tuesday marked a second straight down session for tech as capital rotated into energy, utilities, and industrials ahead of today's CPI print.

Gold and Silver Break Out on Central Bank Buying, CPI Risk

GLD is up 7.2% and SLV 11.6% off early-August lows as record central bank gold buying meets a dovish Fed repricing, with Wednesday's CPI print the next swing factor for a crowded managed-money long book.