A sudden spark in nuclear Nuclear stocks have rarely looked this lively. Oklo has surged more than 1,000% over the past year, including a 63% gain last week. NuScale climbed 26%, while Nano Nuclear jumped nearly 40%. Uranium producers joined the frenzy, with Cameco and Uranium Energy rising
Saxo Bank
The Federal Reserve’s policy decision today carries significant weight for the precious metals markets, with both gold and silver having rallied strongly over the past six weeks as softer labor market data, and Fed Chair Powell’s pivot at Jackson Hole revived expectations for a resumption of the rate cutting cycle. After being paused in December […]
Commodities The Bloomberg Commodity Index (BCOM) extended its rally, rising 2.5% in the latest reporting week. Gains in energy and precious metals supported fresh buying and short covering, while agriculture broadly struggled—corn being the notable exception. Managed money accounts responded by adding length across all energy and metal contracts, while fresh short selling
Gold has surged to a fresh record high at USD 3,547 per ounce, extending an already strong year that has seen the yellow metal gain 34% year to date. Silver has provided further support to the sector, trading above USD 40 for the first time in 14 years, leaving it up 41% year to date. […]
Silver has climbed above USD 40 an ounce to its highest level in 14 years, extending a rally that has already delivered a 37.5% year-to-date gain. Gold is up 31% over the same period, but silver’s outperformance reflects its dual role as both an investment and industrial metal. The latest advance is not the start […]
Saxo Bank announces H1 2025 results with steady growth in net profits and a record number of clients
The Saxo Bank Group achieved a net profit of EUR 73 million in the first half of the year, representing an 18% increase compared to the same period in 2024. The group is now servicing a record 1.4 million clients globally, with client assets amounting to EUR 118 billion, the highest in company history. In […]
Investment metals: Governance risk meets hard asset demand President Trump’s attempted—and legally contested—removal of Fed Governor Lisa Cook is less about an individual and more about the institution. Whatever the legal outcome, the signal is clear: political pressure on the central bank is rising, and it may over time introduce an “independence premium” into U.S. […]
The commodity market is heading for its first gain in three, with the Bloomberg Commodity Index (BCOM) on track for a modest weekly gain of less than 1%. This advance has been carried by strong performances across the agriculture sector, and a rebound across the energy sector excluding natural gas, all of which have helped […]
Crude oil remains trapped in relatively tight ranges, with WTI finding support around USD 62 and Brent near USD 65. The market continues to weigh a mix of bullish and bearish drivers that, which together with thin summer liquidity, are keeping prices boxed in while traders search or wait for the next decisive catalyst. On […]
Gold and silver have been trading in tight, range-bound zones with muted volatility despite positive year-to-date gains (+26% for gold, +30% for silver). Support remains solid from steady ETF inflows, central bank purchases, and persistent investment demand, including gold-backed ETFs at multi-year highs and ongoing but modest bullion flows. However, major
Macro overview August has so far been shaped by a tug-of-war between supportive supply-side stories in parts of the commodity market and macro headwinds from weakening economic data in the US and around the world. The latest US inflation data, in the form of a hotter-than-expected July PPI, forced markets to recalibrate their Fed expectations. […]
The latest USDA World Agricultural Supply and Demand Estimates (WASDE) report delivered a jolt to U.S. grain markets on Tuesday, triggering sharp price moves across corn, soybeans and wheat. The report’s most significant surprise came in corn, where updated forecasts pointed to an even larger harvest than traders had anticipated, while soybeans moved in the […]
Commodities In the week to August 5, several major developments drove positioning changes across key commodities. Trump’s abrupt reversal on copper tariffs triggered a 22% slump in New York prices, prompting funds to halve their HG copper net long. In energy, OPEC+’s continued production increases—potentially into a softening demand period—pressured crude oil, while fading
Gold futures on the COMEX exchange in New York soared overnight relative to the London spot price after an article in the Financial Times suggested the US would now—counter to expectations—apply tariffs on imports of 1 kg and 100 oz bars adding a fresh blow to Switzerland, the world’s largest refining hub. One-kilo bars are […]
The global crude oil market continues to navigate a complex web of supply pressures and geopolitical crosswinds, with prices holding up surprisingly well despite expectations of an emerging supply glut once the peak summer demand season comes to an end, driven by rising OPEC+ output and fading global demand growth amid tariff-related demand concerns. Brent […]
President Trump continues to wield considerable influence over global markets, including commodities. In July, attention centered on intense trade negotiations ahead of the self-imposed August 1 deadline. While a framework deal was reached between the U.S. and EU, and talks with China continued ahead of the mid-August expiry of a 90-day tariff truce, other U.S. […]
Macro data and monetary policy Q: Will the Fed hint at a September rate cut? A: While a July cut is unlikely, the decision is unlikely to be unanimous. A dissent from key members such as Waller or Bowman could shift market expectations toward a September move. That would likely trigger a rally in bonds […]
In just six months since Donald Trump returned to the White House, markets have experienced a whirlwind of policy headlines, geopolitical recalibrations, and economic crosswinds. Echoing Lenin’s famous words, there are decades where nothing happens, and weeks where decades happen. The first half of 2025 has seen the U.S. government adopt a more self-directed, assertive
High-grade copper futures in New York surged on Tuesday, reaching a fresh record high of USD 5.8955/lb, after President Trump, during a cabinet meeting, stated he was considering a 50% tariff on copper imports—well above the 25% anticipated by the market. The remark reignited tensions around the ongoing Section 232 investigation into copper, which for […]
After a phenomenal first half, the investment metals sector has entered a period of consolidation. Gold has traded sideways for the past twelve weeks, creating space for silver and platinum to play catch-up. Yet with year-to-date gains of roughly 26% for gold and silver—and a remarkable 54% for platinum—the natural question from investors is: Is […]















