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For one lawmaker, the path to making Americans healthier starts in the dirt.

Sen. Roger Marshall, R-Kan., has styled himself as an early adopter of the Make America Healthy Again movement, a political slogan born on the 2024 campaign trail that has since seen major companies tweak their products to nix artificial additives.

But Marshall sees the initiative, commonly known as MAHA, as one that can start sooner than switching the oil in deep friers or swapping out high-fructose corn syrup for cane sugar in soda.

He has his own four pillars of MAHA, which include dialing up efficiency in agriculture; healthier, more nutrient-rich food; affordable access to primary care healthcare; and addressing mental health challenges among young people.

But it all starts below the surface with soil health.

‘Soil is a dirty topic, you know, pun intended,’ Marshall told Fox News Digital in an interview.

MAHA diehards and farmers are, at a surface level, at odds with one another, he said. For example, returning to an entirely organic food production process devoid of fertilizers would create healthier food, but also crank up the costs on consumers and strain farmland.

Earlier in the week, Marshall held a roundtable with Agriculture Secretary Brooke Rollins and Secretary of Health and Human Services Robert F. Kennedy Jr. to try and bridge that gap.

‘Soil health seems to be the common ground,’ he said. ‘So healthy soil meets healthy food meets healthy people. Rather than MAHA telling these farmers what you can and can’t do, we wanted to say, ‘What’s our goal here?’ If we have the same goals, then we’re going to figure this out. Well, the goal is healthy soil.’

Getting those two in a room together, along with experts on regenerative agriculture, which is a more holistic approach to farming that targets soil health by restoring and enhancing ecosystems, is just a part of his plan.

He also intends to drop a massive package of bills that is divided up into categories that echo his four pillars, including legislation geared toward health care, mental health, nutrition and agriculture.

Among the nearly 30 bills and amendments in the package is one Marshall is particularly keen to see codified. The Plant Biostimulant Act would spur usage of organisms that can be placed into the soil and that latch onto the roots of plants that absorb nitrates and more water, he said.

The bill ties in directly with his passion for regenerative agriculture, which uses fewer fertilizers, water and other status-quo farming techniques to produce healthier foods on more sustainable farmland, which, in turn, would yield a cheaper, more nutritious diet for Americans.

‘It’s growing more with less,’ he said.

Among the various, bipartisan pieces of legislation from both chambers are bills that would push mobile cancer screenings with grant funding, add mental health warnings for kids scrolling through social media, require more transparency in food ingredients, expansion of employer healthcare coverage for chronic diseases, and measures that would allow bleeding edge soil health technology and processes to be considered conservation practices and eligible for Farm Bill funding, among others.

Most bills need to get 60 votes to pass in the Senate, Marshall noted, and that led to a desire to incorporate as many bipartisan measures in the package as possible. It’s also a topic that, in spite of the political polarization in Washington, ‘unites us, rather than divides us.’

Still, with President Donald Trump in office, he sees the chance for the measures to pass as a kind of now or never moment.

‘We’re seeing a time in our lives where the incidence of cancer, the age of cancer, is growing younger and younger, the age of Alzheimer’s onset is growing younger and younger, and we believe it’s an inflammatory reaction to the food that we’re eating that leads to all that,’ he said.

‘We think heart disease, hypertension, is really an inflammatory reaction… to the food we’re eating and the constantly high sugar levels in our blood system,’ he continued. ‘So absolutely, I think, seize the moment. This is it.’ 


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Shane Williams, CEO, president and director at West Red Lake Gold Mines (TSXV:WRLG,OTCQB:WRLGF), shares his thoughts on gold’s path to US$4,000 per ounce.

‘It’s established a base, and now as that new institutional money begins to move into gold, that’s where I think we’ll get that next leg up,’ he said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Platinum began the year trading between US$900 and US$1,100 per ounce.

While platinum and other platinum-group metals are considered precious metals, they largely trade on demand from the auto sector. Platinum is used as a catalyst to control emissions from internal combustion engine vehicles.

Over the past several years, demand for electric and hybrid vehicles has increased, which has led to a reduction in platinum loadouts and lowered overall demand. However, with changing environmental regulations, an end to electric vehicle (EV) mandates and tax credits, the market may be experiencing a turnaround in H1.

What happened to the platinum price in Q2?

Platinum started the year at US$910 on January 2, reaching its Q1 high of US$1,035.40 on February 13.

It hovered around the US$1,000 mark to the end of the first quarter before falling to its year-to-date low of US$893.50 on April 8 on the back of US President Donald Trump’s ‘Liberation Day’ tariff announcements on April 2.

Platinum price, January 1 to July 16, 2025.

Platinum price, January 1 to July 16, 2025.

Chart via TradingEconomics.

The price gained some momentum starting on April 9 after the US government announced a 90 day pause on tariffs. Platinum climbed back toward the US$1,000 range and remained there until May 16.

After that, the price of platinum saw a dramatic climb, first rising to US$1,081 on May 26 and then jumping even higher to reach an 11 year high of US$1,454.50 on July 14.

Platinum demand rises, supply shrinks

In its latest platinum quarterly, released on May 19, the World Platinum Investment Council (WPIC) reinforces many of the same beliefs it held at the beginning of the year, but adds nuance on evolving trade policy in the US.

In the first quarter of the year, demand for platinum increased by 10 percent year-on-year, rising to 2.27 million ounces from 2.06 million ounces. The growth came despite a 4 percent decline in demand from the automotive sector — its usage fell to 753,000 ounces during the first three months of the year from 784,000 ounces in 2024. There was also a 22 percent decline from industrial components, which sank to 527,000 ounces from 673,000 ounces.

Gains in platinum demand largely came from a more than 300 percent rise in investment, which jumped to 461,000 ounces in 2025’s first quarter from 113,000 ounces recorded in the first quarter of 2024.

Much of the increase was owed to significant additions to aboveground stocks held by exchanges, which gained 361,000 ounces during the quarter, versus an 11,000 ounce loss in the same period of 2024.

Additionally, jewelry demand saw a 9 percent increase, rising to 533,000 ounces. Jewelry makers are beginning to use platinum instead of gold as the price of the yellow metal trends near all-time highs.

The increase in demand was met with significant declines in supply.

Q1 saw a 25 percent decrease in supply, which fell to 1.46 million ounces compared to 1.95 million ounces a year ago. This is the lowest quarterly production since the second quarter of 2020.

Most significant were the declines from South Africa, the world’s largest producer of platinum, where output dropped to 715,000 ounces in Q1 from 1.16 million ounces in the year-ago period.

The WPIC attributes the decrease to heavy rainfall events and flooding, which has impacted mining activities. However, South Africa has been facing significant challenges in recent years as operations in the country have dealt with issues including declining grades and instability in the nation’s power grid.

“Roughly 73 percent of the platinum supply comes from South Africa. South Africa is suffering from power outages. It’s dependent on this dilapidated infrastructure that needs really improving, and that obviously translates to the difficulty of mining platinum,” explained Butler, who writes for publications including the Morgan Report.

Butler added that the other primary supplier of the metal is Russia, whose output isn’t making it into western hands due to the sanctions stemming from its invasion of Ukraine in February 2022.

Rick Rule, proprietor at Rule Investment Media, also called out supply-side risks with South Africa and Russia.

“Neither of those places, politically, are garden spots. Russia is at war, which is difficult. South Africa has ongoing social challenges that haven’t yet really manifested themselves, but I suspect will,’ he said.

‘In the South African mining industry, first of all, the South African government keeps making noises about nationalizing the mines or increasing the social take. What that means is that the mining companies won’t make substantial capital investments in the mines because they don’t know who’s going to own them,” he said in an interview on July 9.

Industrial demand for platinum boost price

Industrial demand for platinum rose during the quarter on the back of speculative buying in the US and China, helping propel the metal above US$1,400. The buying was a result of carmakers stockpiling the metal in June ahead of a vote on a new US spending bill that was set to revoke consumer subsidies for the purchase of new EVs.

The bill was ultimately signed into law by Trump on July 4. It also eliminates penalties for vehicles that don’t meet Corporate Average Fuel Economy Standards. The laws have been part of the Environmental Protection Agency’s mandate for decades, and Congress can’t remove them entirely; instead, fines for violations are now zero.

The combination of removing penalties and dropping EV credits may cause carmakers to adjust plans to roll out new EVs in favor of hybrids or internal combustion engine vehicles.

“If the green energy transition doesn’t happen as swiftly as we believe it will, we could see a reversion back to internal combustion engines, and platinum is a crucial component in those cars,” Butler said.

Platinum price forecast for 2025

Platinum fundamentals are strong. Demand for the metal for the year is expected to outstrip supply by a considerable margin, with the WPIC predicting a deficit of 966,000 ounces this year.

That would follow a 992,000 ounce shortfall in 2024.

However, Rule urged some caution for investors due to overall market conditions.

“Platinum and palladium are economically sensitive … if the economy continues to deteriorate, likely that softness will extend to the internal combustion engine car sales, and that could impact platinum and palladium prices,” he said.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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In a rare public rebuke of Israeli military action, Rep. Joe Wilson, R‑S.C., issued a harsh warning that recent airstrikes on Syria are ‘suicidal’ for Tel Aviv. 

‘I’m the co‑chair of the Israel caucus and a lifelong supporter of the State of Israel,’ Wilson told Fox News Digital in an emotional phone call, ‘I am heartsick.’

He said the strikes on Syria’s military headquarters were ‘insulting and mocking to President [Donald] Trump,’ who just recently lifted sanctions on Syria after meeting with leader Ahmed al-Sharaa to give Damascus a ‘chance’ at economic prosperity after the fall of Bashar al-Assad. 

Wilson said he had a tense phone call with Ambassador Yechiel Leiter, urging him to share his warning back home that Israel must stop the strikes. 

Only weeks ago, there were back-channel talks between Israel and Syria on a possible normalization deal. Now, not only are those talks out the window, but the strikes will complicate work on a U.S.-brokered Abraham Accords-style deal to normalize relations between Israel and Saudi Arabia, Wilson said. ‘It’s so sad to me, it’s so detrimental.’

He warned that fractures in Syria could ripple across the region — undermining emerging ties between Israel and Saudi Arabia, straining NATO relations with Turkey, fracturing Druze unity in Jordan and increasing instability among Kurdish populations across Syria, Iraq, Turkey and Iran. He added that such fragmentation would open the door for an ISIS resurgence, targeting Israel first.

Wilson also pointed to broader geopolitical consequences, noting the strikes empower Iran and bolster Russia’s presence in Syria. ‘Efforts should be made to expel [Vladimir Putin’s forces], not to create destabilization,’ he said, asserting that Moscow uses its Syrian bases to project naval power across Africa and the Mediterranean.

‘What is being done is actually beneficial to Iran. The more destabilization, the greater opportunity Iran has to destabilize other countries, whether it be further destabilization of Iraq, and then also it plays into the hands of war criminal Putin.’ 

This week, Israel’s national security minister Ben Gvir said Israel must ‘eliminate’ al-Sharaa. 

On Thursday, Israeli Defense Minister Israel Katz said the nation struck to defend Druze minority communities in Syria, fearing the Syrian leadership would soon strike Israelis. 

‘I did not trust Assad the father, nor Assad the son, and I certainly do not trust a leader like Julani,’ he said, referring to al-Sharaa by his former name. 

He claimed al-Sharaa ‘relies on jihadist groups that he operates against minorities in Syria, and tomorrow he will operate them against Israeli communities in the Golan Heights. 

‘The moment we understood that the Syrian regime was behind the attacks and a partner in the massacre of the Druze — we acted against them with full force.’ The Druze community also has a sizable population in Israel. 

Wilson called the assertion ‘totally contrived and misunderstood.’ 

‘It’s so sad to me that they’re taking the eye off the enemy. The enemy is Khamenei and the enemy is the head of the snake. It is not Damascus. The head of the snake is Tehran.’

‘They’re opening the door for Tehran to rebuild Hamas to rebuild Hezbollah, to replenish and they already have the Houthis. So, it’s just crazy. And again, it’s suicidal. If you can’t figure out who your enemy is, then you’re opening the door for massive loss of life within Israel itself.’

Syria’s leader accused Israel of sowing discord by striking in defense of the Druze, who were involved in deadly sectarian clashes that threaten the nation’s fragile unity. 

Washington is also intensifying pressure for de-escalation. 

The Trump administration has formally urged Israel to halt its strikes and pursue direct talks with Damascus. Special U.S. envoy Tom Barrack reportedly made several calls to Prime Minister Netanyahu’s adviser, Ron Dermer, pressing for restraint. Secretary of State Marco Rubio described the strikes as a ‘troubling and horrifying situation,’ adding that the U.S. is ‘very concerned’ and wants the fighting to stop.

The Israeli defense ministry could not be reached for comment. 


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Here’s a quick recap of the crypto landscape for Friday (July 18) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$118,687, up by 0.8 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$117,829 and a high of US$120,689.

Bitcoin price performance, July 18, 2025.

Chart via TradingView

Ethereum (ETH) was priced at US$3,604.95, up by 7.2 percent over the past 24 hours. Its lowest valuation as of Friday was US$3,382.09 and its highest was US$3,669.85.

Altcoin price update

  • Solana (SOL) was priced at US$180.04, up by 4.1 percent over 24 hours. Its lowest valuation on Wednesday was US$172.08, and its highest was US$184.13.
  • XRP was trading for US$3.45, up 7.8 percent in the past 24 hours. The cryptocurrency’s lowest valuation was US$3.21, and its highest was US$3.65.
  • Sui (SUI) is trading at US$4.03, down by 2.7 percent over the past 24 hours. Its lowest valuation was US$3.91, and its highest was US$4.23.
  • Cardano (ADA) was trading at US$0.8524, up by 4.3 percent over 24 hours. Its lowest violation was US$0.7885 while its highest was US$0.8865.

Today’s crypto news to know

US passes first major federal crypto regulation

The US Congress has passed the first-ever federal law to regulate stablecoins—marking a milestone victory for the digital asset industry.

The bill, formally titled the “Genius Act,” cleared the House this week after earlier winning bipartisan support in the Senate.

It now awaits President Trump’s signature, which would make it the first major digital asset legislation enacted into law in the US. The legislation establishes clear oversight for stablecoin issuers, including requirements for reserve backing, regular audits, and compliance with anti-money laundering and sanctions laws.

Lawmakers argue that such rules are necessary to ensure the safety of a fast-growing market that is pegged to the US dollar but has, until now, operated in a regulatory gray zone.

Stablecoins are used to facilitate trading, payments, and transfers within the crypto ecosystem without the volatility of traditional cryptocurrencies like Bitcoin. Treasury Secretary Scott Bessent recently stated the law could help grow the stablecoin market to US$3.7 trillion by 2030.

Two other bills also passed the House during the so-called “Crypto Week”: one defining which crypto assets are securities or commodities, and another barring the Fed from launching a US central bank digital currency.

These bills will now proceed to the Senate, but the Genius Act’s passage alone is already being hailed as a defining moment in the evolution of U.S. crypto regulation.

Crypto market soars past US$4 trillion after bill’s passage

The global crypto market capitalization has topped US$4 trillion for the first time, spurred by optimism following the US House’s passage of federal stablecoin legislation.

Investors are piling into altcoins and crypto-related equities as momentum builds behind what markets have dubbed “Crypto Week” in Washington. Ether led the charge with a 22 percent jump over five days, while Bitcoin soared to an all-time high of US$123,205 and continues to make up over half of the market’s total value.

The gains reflect increasing confidence that a regulatory framework is finally taking shape in the world’s largest economy.

Analysts predict that the stablecoin sector alone could balloon to US$3.7 trillion by 2030, especially with state and federal guardrails in place. ETF inflows have been particularly strong this month, with US-listed Bitcoin and Ether funds attracting a combined US$8.4 billion in July.

House blocks digital dollar rollout with Anti-CBDC Act

The US House passed the CBDC Anti-Surveillance State Act, effectively banning the Federal Reserve from issuing or piloting a digital dollar without direct approval from Congress.

The move represents growing Republican backlash against central bank digital currencies, or CBDCs, which critics fear could enable state monitoring of financial transactions.

The bill passed on a razor-thin 219–217 vote, marking the third major crypto bill to clear the chamber during Washington’s so-called “Crypto Week.”

Unlike cryptocurrencies like Bitcoin, CBDCs are centralized and government-controlled, raising concerns about programmability and surveillance.

With this vote, the House has now backed legislation on stablecoins, crypto market structure, and CBDCs — a trifecta of digital asset policy initiatives that now await Senate scrutiny.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Element79 Gold Corp (OTCQB: ELMGF, CSE: ELEM,OTC:ELMGF, FSE: 7YS0) a mining company focused on gold and silver exploration with a portfolio of assets in Nevada and Peru, today announced that CEO and Director, James C. Tworek, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on July 23, 2025

 

  DATE : July 23, 2025
TIME: 1:30pm EST  
LINK:   REGISTER HERE  
Available for 1×1 meetings: July 23-29, 9am-5pm EST – booking link: Element79 Gold – 1×1 Meeting Management Link  

 

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

 

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

 

Learn more about the event at   www.virtualinvestorconferences.com    .  

 

  Recent Company Highlights:  

 

  • Strategic refocus on Nevada exploration
  •  

  • Upcoming 43-101 reports in progress for Elephant and Gold Mountain
  •  

  • Preparing for exploration at Elephant project,
  •  

  • Acquisition of drill-ready Gold Mountain project in Battle Mountain trend
  •  

  Near-term catalysts include:  

 

  • Updated technical disclosures and resource modeling;
  •  

  • Drilling and exploration program launches at Gold Mountain and Elephant;
  •  

  • Strategic communications and investor engagement to reinforce market positioning
  •  

  About Element79 Gold Corp  

 

 Element79 Gold Corp is a mining company focused on gold and silver exploration, with a portfolio of assets in Nevada and Peru. The Company is actively advancing its Gold Mountain and Elephant projects in Nevada and holds the high-grade Lucero mine in southern Peru. Element79 Gold is listed on the OTCQB Market (OTCQB: ELMGF), Canadian Securities Exchange (CSE: ELEM,OTC:ELMGF), and the Frankfurt Stock Exchange (FSE: 7YS0).

 

  About Virtual Investor Conferences ®  

 

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

 

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

 

  CONTACTS:  
Mike Smith  
VP, Corporate Development
C: +1.604.319.6853
ms@element79.gold  

 

  Virtual Investor Conferences  
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com  

 

  Primary Logo 

 

 

News Provided by GlobeNewswire via QuoteMedia

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Israel’s military strikes in Syria this week — launched in response to atrocities against the Druze minority — represent a strategic turning point in a deeper power struggle that now entangles Iran, Turkey, Israel, Saudi Arabia and the U.S., according to regional analysts.

Just days ago, speculation swirled about a potential normalization agreement between Israel and Syria — a breakthrough quietly brokered by U.S. officials, but that fragile prospect has been swiftly overtaken by violence, as Israeli airstrikes this week struck near Damascus.

A ceasefire agreement between Druze factions and the Syrian government, announced July 16, was meant to calm days of deadly clashes, but it remains tenuous and largely unenforced, with sporadic fighting continuing and tensions running high.

‘For the Druze in Israel, what’s happening in southern Syria feels like October 7 all over again,’ said Avner Golov, vice president of the Israeli think tank Mind Israel. ‘Israel can no longer treat Syria as just a neighboring crisis. It’s now a domestic one.’

In a rare scene, Israeli Druze citizens crossed the border into Syria to support their embattled relatives — prompting a stern warning from Prime Minister Benjamin Netanyahu.

‘My Druze brothers, citizens of Israel… Do not cross the border,’ Netanyahu said. ‘You are putting your lives at risk — you could be killed, you could be kidnapped — and you are harming the IDF’s efforts. Let the IDF do its job.’

In his first televised address since the Israeli strikes, Syrian transitional President Ahmed al-Sharaa framed the Israeli intervention as a destabilizing act.

‘Government forces deployed to Suweida succeeded in restoring stability and expelling outlawed factions despite the Israeli interventions,’ he said, warning that the strikes led to ‘a significant complication of the situation’ and ‘a large-scale escalation.’ He insisted that protecting the country’s Druze minority was a top priority and declared that Syrians ‘are not afraid of war.’

Within Israel, the collapse of order in Syria has triggered sharp debate. Some policymakers argue for supporting Sharaa as an anti-Iranian strongman, while others advocate broader military action to create a buffer zone in southern Syria. Golov supports a middle course: conditional strikes paired with demands for Druze autonomy and accountability for war crimes.

‘If Sharaa shows he’s willing to punish those responsible for the massacre and agree to Druze autonomy, then Israel can gradually work with him,’ Golov told Fox News Digital.

He also called for a regional diplomatic effort to stabilize Syria. ‘We need a regional summit — the U.S., Saudi Arabia, even Turkey, and Israel’ he said. ‘Bring positive forces into Syria and use Israeli military power not just tactically, but to gain diplomatic leverage.’

‘There’s a temptation to miss the victory lap,’ said Behnam Taleblu, senior director of the Iran Program at the Foundation for Defense of Democracies (FDD). ‘Rather than see Syria through the prism of competition with Turkey, Israel should first see it through the prism of diminished competition with Iran. That in itself is a huge achievement.’

Turkey: Alarmed, but invested

While Iran’s position has weakened, Turkey has quietly expanded its footprint in Syria by backing the al-Sharaa government. 

Turkey’s strategic interest in Syria, Sinan Ciddi, a senior fellow at FDD and director of the Turkey program, explained, is to fill the vacuum left by Iran with its own political and economic influence — using al-Sharaa regime as a conduit. ‘Turkey has a lot riding on al-Sharaa success,’ he said. ‘They’d like to see increased trade, the reconstruction of Syria through al-Sharaa. They want to use him as a means to influence the region politically.’

However, Israel’s military response has triggered alarm in Ankara.

‘Turkey is not in a position to militarily challenge Israel — it would be a disaster,’ said Ciddi. ‘They’re talking tough, but they’re deeply concerned.’

Ciddi emphasized that Turkey’s aging military hardware and lack of air defense leave it highly exposed. Yet, Turkey is deeply invested in al-Sharaa political survival, hoping to leverage him for influence and economic ties in post-war Syria.

A direct clash between Turkey and Israel, Ciddi warned, would ‘result in a diplomatic fiasco… and require the United States and European countries to step in as mediator.’

Iran: Watching, waiting, and ready to return

Even as Israel dismantled key parts of Iran’s military infrastructure in Syria, Tehran remains a long-term threat. Taleblu said Iran is now lying in wait — ready to exploit missteps by others.

‘This is a regime that capitalizes on the mistakes of others,’ he said. ‘They don’t need to win outright — they just need everyone else to lose.’

Tehran is betting that the region’s rival powers — Turkey, Israel, the U.S. and the Gulf — will overplay their hands, allowing Iran to reenter through proxies, sectarian militias, or diplomatic manipulation.

The United States: Pulled back in

Though President Trump recently said Syria’s internal affairs are ‘not our war,’ his administration’s tone has shifted. Secretary of State Marco Rubio called for de-escalation, and regional partners are urging a clearer U.S. role.

‘Real success will come from creating contingencies,’ Taleblu said. ‘What are the costs if Syria collapses? What if Turkey overreaches, or Israel overextends? What if Iran comes back? The states that prepare for these questions.’


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Gold has notched an extraordinary first half of 2025, climbing 26 percent in US dollar terms and setting 26 new all-time highs — but the rally now faces a murky and fragile second act shaped by inflation, monetary policy, and unresolved global tensions, according to the World Gold Council’s (WGC) recent mid-year report.

Investors around the globe turned to gold as both a tactical hedge and a strategic store of value, pushing trading volumes to an all-time high of US$329 billion per day in the first six months of the year.

The WGC’s mid-year outlook suggests the precious metal’s momentum could continue, but with significant caveats. Under current consensus forecasts, gold is likely to remain rangebound in the second half, potentially rising another 0 to 5 percent.

However, sharp deviations in macro conditions — particularly those involving stagflation, recession, or worsening geopolitical risks — could lift gold by an additional 10 percent to 15 percent before year-end.

A record-breaking first half

Gold’s 26 percent gain in H1 made it one of 2025’s top-performing major assets. The yellow metal benefited from a rare combination of global factors: a declining US dollar — which had its worst start to a year since 1973 — muted Treasury yields, and a sharp uptick in geopolitical tensions, many linked to US trade policies and regional flashpoints.

These factors created fertile ground for strong inflows into exchange-traded funds (ETFs), over-the-counter (OTC) markets, and futures.

Gold ETF holdings surged by 397 metric tons in the first half — the highest since August 2022 — bringing total holdings to 3,616 tonnes and pushing total assets under management to $383 billion, a 41 percent increase from the start of the year.

Central banks, too, continued to buy gold, albeit at a moderated pace compared to the record-setting quarters of 2022 and 2023. Although net purchases have slowed, they remain significantly above the pre-2022 average of 500–600 metric tons annually.

Why investors piled in

According to the WGC’s Gold Return Attribution Model (GRAM), three key drivers contributed to gold’s H1 surge: risk and uncertainty, opportunity cost, and momentum.

Investor demand stemming from heightened geopolitical and financial risks contributed approximately 4 percent of gold’s return, with half of that explained by a measurable increase in the Geopolitical Risk Index.

A further 7 percent of the return was attributed to changes in opportunity cost, primarily due to the weakening dollar and low bond yields, which made non-interest-bearing gold relatively more attractive.

Lastly, momentum effects, including continued ETF inflows and trend-following investment behavior, added another 5 percent, supporting the metal’s climb through positive feedback loops.

Altogether, these macro and market-based dynamics explained around 16 percentage points of gold’s 26 percent performance in the first six months of the year.

The outlook: Three scenarios for H2

While gold’s fundamentals remain supportive, analysts are cautious about expecting a repeat performance in H2. The WGC outlines three macroeconomic paths that could shape gold’s direction in the second half.

In the base case, moderate global growth and inflation settling near 5 percent could keep real yields subdued, especially if the US Federal Reserve cuts rates by 50 basis points in the fourth quarter.

This environment would likely support gold prices modestly, with forecasts pointing to gains of up to 5 percent. Continued interest from ETF and OTC investors could offset softer consumer demand and increased recycling, both of which may act as speed bumps for further upside.

The bull case envisions a sharp rise in gold if economic conditions worsen — either through stagflation or a full-blown recession.

A flight to safety could trigger renewed ETF inflows, central bank diversification away from the dollar, and heavier positioning in COMEX futures. Under this stress-driven rally, gold could surge another 10 to 15 percent in H2, echoing the strong performance seen during previous crises like 2008 and the early pandemic years.

On the flip side, a more stable geopolitical and macroeconomic environment, such as a resolution to major global conflicts or normalization in trade, would dampen demand for gold. In this bear case, stronger yields and renewed investor appetite for risk assets could pull gold down by as much as 12 to 17 percent.

No matter the outcome, gold continues to serve as a resilient portfolio hedge. Its strong showing in the first half of 2025 reaffirmed its utility in volatile markets, particularly as traditional safe havens like US Treasuries struggle to deliver.

Even if jewelry and retail demand sees pressure, structural support could come from institutional players — including reports that Chinese insurers are quietly upping their gold allocations.

For now, gold may consolidate. But should conditions turn, the metal still has plenty of room to move, in either direction.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Formal saving in developing economies surged to its highest level in more than a decade in 2024, powered largely by the widespread use of mobile phones and digital financial tools, the World Bank said in its new Global Findex 2025 report.

For the first time, 40 percent of adults in low- and middle-income countries reported saving money through a bank or other financial institution—marking a 16-percentage-point increase since 2021 and the sharpest three-year rise since the Findex survey began.

Mobile-money services played an outsized role: 10 percent of adults in these economies used mobile accounts to save, up from 5 percent just three years prior.

‘This is real progress,’ said Bill Gates, chair of the Bill & Melinda Gates Foundation, which supports the survey. ‘More people than ever have the financial tools to invest in their futures and build economic resilience, including women and others previously left behind.’

The data points to a broader trend: digital access is quickly becoming the defining factor in who gets to participate in formal financial systems. While nearly 80 percent of the world’s adults now have a financial account, 1.3 billion people still do not—and most of them live in countries where mobile-phone penetration is already high.

According to the report, around 900 million adults without financial accounts do own mobile phones, and more than half of those have smartphones.

“Financial inclusion has the potential to improve lives and transform entire economies,” said World Bank Group President Ajay Banga. “Digital finance can convert this potential into reality, but several ingredients need to be in place.”

Banga cited the Bank’s work supporting digital identification systems, social protection programs with direct cash transfers, and efforts to modernize national payment infrastructure. “We’re helping to remove regulatory roadblocks—so that people and businesses have the financing they need to innovate and create jobs,” he said.

The Findex also recorded an increase in digital merchant payments. In 2024, 42 percent of adults in developing economies made at least one in-store or online purchase using a card or mobile phone—up from 35 percent in 2021.

Among adults receiving wages or government payments, a growing majority are being paid directly into accounts, a shift that has been shown to reduce leakage and fraud.

At the same time, the rise in digital finance has exposed new gaps in consumer protection and digital literacy. Although 4 billion adults in low- and middle-income countries own mobile phones, only about half use passwords or other basic security tools. This leaves hundreds of millions vulnerable to scams, account theft, or misuse of their data.

For the first time, the report incorporated data on personal device ownership and internet use through a new Digital Connectivity Tracker. It found that 86 percent of adults globally now own a mobile phone, including 68 percent with smartphones.

These figures are even higher in some regions: mobile-phone ownership tops 94 percent in Europe and Central Asia, and smartphone use is highest in East Asia and the Pacific, where 86 percent of adults own one.

Sub-Saharan Africa showed the largest gains in mobile-money use, with 35 percent of adults now saving formally—up 12 percentage points since 2021. Meanwhile, women in low- and middle-income countries have made notable strides in account ownership, closing much of the gender gap: 73 percent now have accounts, compared with just 37 percent in 2011.

Still, challenges persist. In the Middle East and North Africa, only 53 percent of adults have an account, and formal saving remains low at 17 percent. In Latin America and the Caribbean, 70 percent have accounts, but usage patterns vary widely by country and income level.

Gates underscored the stakes: “The case for investing in inclusive financial systems, digital public infrastructure, and connectivity is clear—it’s a proven path to unlocking opportunity for everyone.”

The Global Findex, compiled every three years since 2011, remains the world’s most comprehensive database on how adults access, use, and trust financial services. The 2025 edition surveyed over 130,000 people in more than 120 countries.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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