Housekeeping: Good Morning.
China isn’t Cornering Gold and Silver, The West is too over leveraged and is cornering itself.
Today:
Premium: Uranium Bull Market
Commentary: Gold/ Uranium
Session Recap:
US equities retreated on Friday after data showed a slowdown in inflation and better than expected consumer sentiment
Premium / Markets: Uranium
“A New Uranium Bull Market” by BCA Research
GoldFix Key Insights/Drivers:
Geopolitical Influence: Energy security concerns are driving investments in nuclear power. (Mercantile Energy Supply Chains)
Environmental Push: Nuclear energy is increasingly viewed as essential for achieving carbon reduction targets. (Economics over ideology)
Supply Constraints: Underinvestment in uranium mining has led to a market imbalance, pushing prices higher. (slow to grow)
Investment Opportunities: The current market conditions present lucrative opportunities in uranium-related assets. (pickers market)
Previously on GoldFix:
Continues in Premium
Market News:
"Financial services are failing to implement artificial intelligence successfully, European fintech executives have claimed, even as evidence mounts that the hyped technology will boost productivity and cut costs. Job loss fears, regulatory concerns and institutional inertia are among the factors deterring bankers from fully embracing the systems that underpin products such as ChatGPT." Source: FT
"The Biden administration took a long-delayed step against tax evasion in [digital] currency markets, though it left some work unfinished amid fierce lobbying by companies like [COIN]. Source: WSJ
"Big banks plan to pay out more to shareholders after passing regulators’ annual stress test results earlier this week. Source: WSJ
"Apple’s mixed-reality headset began deliveries in China with a retail price roughly 18% higher than in the U.S... Many of the most popular posts about the device on Chinese social media platform Weibo on Friday focused on the hashtag “is it worth paying for the China version of Vision Pro,” according to a CNBC translation." Source: CNBC
Geopolitics:
Hamas officials said there is no progress in ceasefire talks with Israel but
Iran will hold a presidential election run-off on July 5th as no candidate secured 50% of votes.
Russian President Putin held a Russian security council meeting on the moratorium on the deployment of intermediate-range missiles and said Russia needs to resume production of short and medium-range missiles, according to reports on Friday.
Russia took control of the settlement of Shumy in Ukraine, while Russian forces also took over Spirne and Novooleksandrivka in Ukraine’s Donetsk region
US military raised the alert level of several bases in Europe to its second-highest level, according to the Times of Israel citing multiple American media outlets.
Some headlines via NewSquawk or DataTrek
Data on Deck:
MONDAY, JULY 1 9:45 am S&P final U.S. manufacturing PMI June -- 51.7% 10:00 am Construction spending
TUESDAY, JULY 2 9:30 am Federal Reserve Chair Jerome Powell speech in Portugal
WEDNESDAY, JULY 3 8:15 am ADP employment June 170,000 152,000', 2:00 pm Minutes of Fed's June FOMC meeting
THURSDAY, JULY 4 None scheduled, July 4 holiday
FRIDAY, JULY 5 8:30 am U.S. employment report June 1
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