Gold jumps to $4,900 for the first time in history
Source: Barchart
Is Gold Still the Go-To Fear Hedge
Better hashtag#hedge alternatives? hashtag#Gold as the global fear hedge looks expensive relative to the VIX. Volatility remains somewhat elevated despite the recent pullback tied to the Greenland/Trump headlines, but chasing gold here as protection looks late. Source: TME
How Much Metal Can $10K Buy?
Source: ELEMENTS
Gold is now the most “crowded trade”, acc to BofA’s monthly Global Fund Manager Survey.
Source: Holger Zschaepitz @Schuldensuehner BofA
This is HISTORIC: The gold-to-silver ratio plunged to 50, the lowest in 14 YEARS.
This means it now takes just 50 ounces of silver to buy 1 ounce of gold, down from ~105 in April 2025. Since then, gold prices have rallied +43% while silver prices have SKYROCKETED an unbelievable +186%. Silver is outperforming gold at the fastest pace in decades. Source: Global Markets Investor Global Markets Investor
The Correlation Between Gold Prices and Japanese Bond Yields (2013–2025)
Gold (in organe) and 10-year JGB yields (in blue). Japan was always the endgame Source: www.zerohedge.com
The Gold/Silver pair down to 52x - the lowest since Dec 2012
Since: zerohedge
The next 24 hours could be extremely volatile! supreme court tariff ruling is expected today at 10:00 am et
Markets price a 71% chance that courts rule Trump’s tariffs illegal, raising the prospect of $600B+ in refunds and significant market uncertainty. A non-consensus view argues the opposite outcome is more likely: keeping the tariffs may be less disruptive than reversing them. U.S. businesses have already adapted by restructuring supply chains, repricing goods, and adjusting investment plans, so a sudden rollback could punish those who adjusted and reward those who didn’t. Early fears of runaway inflation, collapsing earnings, and stalled growth have not materialized. Striking down the tariffs would also create legal and fiscal uncertainty around refunds and replacement measures, increasing volatility. Once embedded, tariffs function as a fiscal revenue tool, not just trade policy. Bottom line: The court may prioritize the least disruptive outcome—maintaining or modifying tariffs rather than eliminating them outright. Source: Cassian @ConvexDispatch, @BobEUnlimited
