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China Buys 10 Tonnes of Gold in May, Largest Since Jan 2025
China added 10 tonnes of gold to its reserves in May, the biggest monthly increase since January 2025, extending its buying streak to 19 consecutive months. Total official gold reserves hit a record 2,331 tonnes.
WTI Steadies Near $87.50 After Previous Day’s Drop
West Texas Intermediate crude oil stabilizes around $87.40 per barrel during Asian hours after falling more than 2.5% the previous day, as renewed supply concerns offset recent losses.
Xi and Kim Reach Consensus, Pledge Stronger Ties
Chinese President Xi Jinping and North Korean leader Kim Jong Un reached an important consensus during talks, with Xi calling his visit to North Korea a success. Both sides pledged to strengthen strategic ties and work to safeguard regional and global peace, per KCNA.
Supertanker Orders Surge to Record High, Exceeding 2008 Peak
The number of supertankers on order globally has hit a record 262, a more than 1,000% increase from two years ago, surpassing the 2008 record that later led to a market crash in shipping rates.
US Launches Strikes on Iran in Retaliation for Downed Helicopter
The United States has launched a second round of military strikes on Iran, targeting air defense and radar systems, according to US officials cited by Axios.
Iran Warns US to Leave Region, Threatens Response to Attacks
Iranian Foreign Minister Abbas Araghchi warned the United States to leave the region or face consequences, stating that Iran's armed forces will not ignore any attack or threat.
Gold Slumps Below $4,250 on US-Iran Tensions, Rate Hike Expectations
Gold (XAU/USD) fell to around $4,235 in early Asia on Wednesday, the lowest since March 23, pressured by renewed US-Iran tensions and rising bets on a US interest rate hike ahead of CPI data.
AI Boom Drives Magnificent 7 Revenue Per Employee Surge, Small Caps Slump
Revenue per employee for the Magnificent 7 has soared 20% since early 2023 to ~$270,000, while Russell 2000 companies have seen a 14% decline to $122,000, highlighting a stark productivity gap.
US consumer financial sentiment hits highest since January 2023
In May, 43.6% of Americans said they are financially worse off than a year ago, the highest since January 2023. The share expecting to be worse off in the next year also rose sharply.
Rising Inflation Could Drive Real Yields Lower, Boosting Gold
Despite rising nominal rates, accelerating price inflation may reduce real interest rates, creating a bullish environment for gold and silver.
AI Stock Valuations Questioned as SpaceX, OpenAI IPOs Loom
Investors are growing skeptical of AI stock valuations after recent gains, with upcoming IPOs from SpaceX and OpenAI expected to add significant equity supply. Renewed volatility in semiconductor stocks adds to the uncertainty.
Wall Street Rotates From Tech Into Broader Sectors Amid Growth Hopes
Investors shifted out of major technology stocks into a wider range of sectors tied to improving economic growth. Chipmakers and AI shares fell, but gains across most S&P 500 companies limited overall market losses.
China rare earth export controls send prices soaring
China's export licensing requirements imposed in April 2025 have driven sharp price increases in yttrium, terbium, and dysprosium, with yttrium rising 14,000%.
Crude Oil Unfazed by Trump's Threat of Response to Iran Helicopter Downing
President Trump announced that the US military concluded Iran shot down an Apache helicopter over the Strait of Hormuz, vowing a US response. However, crude oil prices showed little reaction to the escalation.
Gold Tumbles Below $4,250 as Trump Vows Response to Helicopter Strike
Gold (XAU/USD) plunged nearly 2% on Tuesday after US President Donald Trump vowed retaliation for Iran's downing of a US helicopter near the Strait of Hormuz. The metal trades below $4,250, down 1.93% on the day.
Iran FM Warns Foreign Forces to Leave, Rejects Hormuz as International Waters
Iran's Foreign Minister Abbas Araghchi warned foreign forces near Iranian territory to leave, saying the best way to reduce risk is their departure. He added that Iran prefers diplomacy but is capable of other languages, and rejected the Strait of Hormuz as international waters.
S&P 500 single-stock volatility hits highest since March 2025 amid index calm
The average 3-month implied volatility of S&P 500 single stocks has surged to ~40, the highest since the March-April 2025 sell-off, while the index's implied volatility remains near 15, signaling growing divergence and hidden stress beneath the surface.
US and Iran Close to Breakthrough on 15-Year Nuclear Freeze: NYT
According to a New York Times report citing US officials and diplomats, the US and Iran are nearing an agreement to freeze Iran's nuclear program for 15 years, addressing four key nuclear themes.
Iran Downed US Apache Helicopter over Strait of Hormuz, Trump Says
President Trump claims Iran shot down a U.S. Apache helicopter over the Strait of Hormuz; both pilots are safe. A U.S. investigation confirms an Iranian drone caused the crash but has not determined intent.
US Official Says Iranian Drone Struck Helicopter, Caused Crash
A senior US official stated that an investigation determined an Iranian drone struck the helicopter that crashed, but has not yet determined if the strike was intentional.
US official says Iranian drone struck US helicopter, crash cause under investigation
A US official cited by Axios reporter tells that a drone strike from Iran hit a US helicopter, causing the crash. Investigators have yet to determine whether the attack was intentional.
S&P 500 Reverses Sharply After Trump Says Iran Shot Down US Helicopter
The S&P 500 erased a 1.5% gain and $2.1 trillion in market cap within three hours after President Trump stated Iran shot down a US helicopter, prompting a sharp reversal.
Trump Reports US Apache Shot Down by Iran Near Strait of Hormuz
President Trump stated on Truth Social that Iran shot down a US Apache helicopter near the Strait of Hormuz, with both pilots safe. He indicated the US must respond to the attack.
EIA Raises 2026 WTI Price Forecast to $88.32, Brent to $95.39
The U.S. Energy Information Administration lifted its 2026 average price forecast for WTI crude to $88.32 per barrel and for Brent to $95.39 per barrel, while keeping 2027 estimates unchanged. U.S. oil output is expected to rise in June and July.