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The Trump administration on Thursday imposed sanctions on four judges at the International Criminal Court over allegations against Israel. 

Secretary of State Marco Rubio announced sanctions against Solomy Balungi Bossa of Uganda, Luz del Carmen Ibáñez Carranza of Peru, Reine Adelaide Sophie Alapini Gansou of Benin, and Beti Hohler of Slovenia.

‘These individuals directly engaged in efforts by the International Criminal Court (ICC) to investigate, arrest, detain, or prosecute nationals of the United States or Israel, without consent from the United States or Israel,’ Rubio said. 

The sanctions against the Hague-based court are related to Trump Feb. 6 executive order. 

He signed the executive order punishing the ICC in response to its May 2024 arrest warrant for Israeli Prime Minister Benjamin Netanyahu and Israel’s former Defense Minister Yoav Gallant, accusing them of war crimes and crimes against humanity amid Israel’s ongoing conflict against Hamas. 

Rubio said the four ICC judges ‘actively engaged in the ICC’s illegitimate and baseless actions targeting America or our close ally, Israel.’

‘The ICC is politicized and falsely claims unfettered discretion to investigate, charge, and prosecute nationals of the United States and our allies,’ he said. ‘This dangerous assertion and abuse of power infringes upon the sovereignty and national security of the United States and our allies, including Israel.’

He said the United States will take ‘whatever actions we deem necessary’ to protect its sovereignty, that of Israel, and other U.S. allies from ‘illegitimate actions by the ICC.’

Rubio noted that member states of the court, ‘many of whose freedom was purchased at the price of great American sacrifices’ and to push back against the court for its ‘disgraceful attack’ against the U.S. and Israel.

Fox News Digital has reached out to the ICC. 

The ICC only prosecutes cases when domestic law enforcement authorities cannot or will not investigate. Israel is not a member of the court. 

Israeli Prime Minister Benjamin Netanyahu slams UK, France and Canada in wake of deadly DC shooting

Despite the warrants for Netanyahu and Gallant, the court has no police powers to enforce warrants, instead choosing to rely on cooperation from its member states.


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As criticism mounts from within former President Joe Biden’s world against former White House press secretary Karine Jean-Pierre and her new book, one ex-aide lambasted the now-Independent ombudswoman as ‘kinda dumb’ — a tweet he deleted but later stood by.

Timothy Wu, now a Columbia Law professor, was Biden’s ‘architect’ of antitrust policy whose faculty bio claims he also coined the progressive term ‘net neutrality’ in 2002.

In a now-deleted tweet, Wu wrote: ‘from a [White House] staff perspective, the real problem with Karine Jean-Pierre was that she was kinda dumb.’

‘[She had n]o interest in understanding harder topics. Just gave random incoherent answers on policy,’ Wu added in the trashed tweet.

Jesse Watters unpacks Karine Jean-Pierre’s ‘backstabbing book’

The X account ‘I work with my word’ replied to the original tweet, calling it ‘pretty racist,’ and the tweet was later deleted, but the reply remained.

Below the reply, Wu added a new line of commentary, saying the Biden White House was ‘full of genius-level Black women. [Jean-Pierre] was not one of them.’ 

In response to another X user asking Wu whether Trump White House press secretary Karoline Leavitt understands executive policy, the professor said a good ombudsperson will ‘meet with policy staff and try and understand what the administration is doing and why.’

MONTAGE: Karine Jean-Pierre defends Biden

After Wu’s original tweet, fellow former Biden advisor Symone Sanders Townsend wrote on X that Democrats ‘going on the record or on background to call Karine ‘dumb’ or ‘stupid’ have crossed a line.’ ‘You can have a valid criticism about how she did the job, but let’s not walk down the road of disrespect,’ Sanders Townsend said.

Fox News Digital reached out to Wu via his Columbia faculty office, where he has taught since 2006.

The former Biden advisor was also a Democratic primary candidate for New York’s lieutenant governorship in 2014, and also worked in the Obama administration and at the Federal Trade Commission.

Jean-Pierre on Wednesday announced that she left the Democratic Party and has become an independent while revealing her upcoming book: ‘Independent: A Look Inside a Broken White House, Outside the Party Lines.’

She was mocked and criticized by several people in Biden’s orbit besides Wu, including one who said, ‘I wouldn’t ignore what Karine has to say, but it’s not an account in which much weight will be invested — just like her briefings.’

‘At noon on that day [that Biden left office], I became a private citizen who, like all Americans and many of our allies around the world, had to contend with what was to come next for our country. I determined that the danger we face as a country requires freeing ourselves of boxes. We need to be willing to exercise the ability to think creatively and plan strategically,’ Jean-Pierre said of her new independent streak.

Fox News Digital’s Brian Flood and The Associated Press contributed to this report.


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President Donald Trump maintained his belief that former President Joe Biden didn’t have ‘much of an idea what was going on’ when he served as president when asked Thursday to respond to Biden’s dismissal of an investigation into his administration’s use of an autopen. 

‘He was never for open borders. He was never for transgender for everybody. He was never for men playing in women’s sports. I mean, he changed,’ Trump said Thursday from the Oval Office during a meeting with German Chancellor Friedrich Merz. ‘I mean, all of these things that that changed so radically. I don’t think he had any idea… I said it during the debate and I say it now, he didn’t have much of an idea what was going on.’ 

‘Essentially, whoever used the autopen was the president, and that is wrong,’ he added. ‘It’s illegal. It’s so bad, and it’s so disrespectful to our country.’ 

Trump sent a memo to the Department of Justice Wednesday directing Attorney General Pam Bondi to investigate whether Biden administration aides conspired to deceive the public about his mental state, and simultaneously used an autopen to sign key presidential actions. 

‘In recent months, it has become increasingly apparent that former President Biden’s aides abused the power of Presidential signatures through the use of an autopen to conceal Biden’s cognitive decline and assert Article II authority,’ Trump wrote. ‘This conspiracy marks one of the most dangerous and concerning scandals in American history. The American public was purposefully shielded from discovering who wielded the executive power, all while Biden’s signature was deployed across thousands of documents to effect radical policy shifts.’

Biden responded to the memo Wednesday evening, brushing it off as ‘ridiculous’ and a ‘distraction’ put forth by the GOP. 

‘Let me be clear: I made the decisions during my presidency. I made the decisions about the pardons, executive orders, legislation and proclamations. Any suggestion that I didn’t is ridiculous and false,’ Biden said. ‘This is nothing more than a distraction by Donald Trump and congressional Republicans who are working to push disastrous legislation that would cut essential programs like Medicaid and raise costs on American families, all to pay for tax breaks for the ultra-wealthy and big corporations.’ 

Trump continued in his Thursday comments that the Biden administration’s use of an autopen is one of the biggest political scandals in U.S. history, remarking that autopens are typically used to send mass amounts of letters – not for official presidential actions. 

‘I sign important documents. Usually, when they put documents in front of you, they’re important. Even if you’re signing ambassadorships or – and I consider that important, I think it’s inappropriate,’ Trump continued. ‘You have somebody that’s devoting four years of their life or more to being an ambassador. I think you really deserve that person deserves to get a real signature, not a, not an autopen signature.’ 

The president added that he can easily identify autopen signatures from genuine pen-to-paper signatures due to ‘two little pinholes from pulling the paper’ that are found on documents. 

‘I think it’s very disrespectful to people when they get an autopen signature,’ Trump said. ‘Autopens, to me are used when thousands of letters come in from young people all over the country, and you want to get them back and, you know, people use autopens for that to send, a little signature at the bottom of a letter. We have thousands of them. We get thousands of letters a week, and it’s not possible to, you know, though I’d like to do it myself, but you can’t do it. That’s where autopens start and stop.’ 

Autopen signatures are automatically produced by a machine, as opposed to an authentic, handwritten signature.

The conservative Heritage Foundation’s Oversight Project first investigated the Biden administration’s use of an autopen earlier in 2025 and found that the same signature was on a bevvy of executive orders and other official documents, while Biden’s signature on the document announcing his departure from the 2024 race varied from the apparent machine-produced signature.

The reports led to speculation that Biden aides had approved of executive orders and sweeping pardons, not the president. 


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Following news that two Chinese nationals were charged with allegedly smuggling a ‘dangerous biological pathogen’ into the United States to study at a U.S. university, Fox News Digital spoke to an expert on China who said the arrests should be a wake-up call to the country. 

‘I was entirely unsurprised, which is a sad commentary, but it speaks to the Chinese Communist Party, the CCP wants to kill Americans,’ Michael Sobolik, a senior fellow at the Hudson Institute focusing on U.S. and China relations, told Fox News Digital after FBI Director Kash Patel announced the arrests of the two Chinese nationals. 

‘Look at what they’ve done with smuggling fentanyl precursors into our country to kill Americans, look at the effects of them failing to stop the spread of COVID-19,’ Sobolik said. ‘Dead Americans. The fact that they want to target Americans here within the United States with pathogens and with bioweapons. This is the Chinese Communist Party. This is what they do. They’re in a cold war with the United States. They want to become the most powerful nation in the world and they wanna make the world safe for their tyranny and unsafe for freedom. And they’re coming for us here at home.’

The couple are accused of smuggling a fungus called Fusarium graminearum, which scientific literature classifies as a ‘potential agroterrorism weapon,’ according to the Justice Department. Federal prosecutors note that the noxious fungus causes ‘head blight,’ a disease of wheat, barley, maize, and rice, and ‘is responsible for billions of dollars in economic losses worldwide each year.’ 

The Justice Department also says fusarium graminearum’s toxins cause vomiting, liver damage, and ‘reproductive defects in humans and livestock.’ 

According to the criminal complaint, one of the accused allegedly received Chinese government funding for her work on the pathogen in China. 

The couple are accused of bringing the pathogen into the U.S. to study at a University of Michigan laboratory, which raises more concerns about Chinese nationals infiltrating American universities.

Last month, a bombshell report out of Stanford University shed light on the influence of spies from the Chinese Communist Party that the student newspaper says have likely infiltrated the prestigious institution and other universities nationwide to gather intelligence.

‘American higher education is addicted to the Chinese Communist Party,’ Sobolik told Fox News Digital. ‘It’s addicted to easy money that has come from Beijing for decades. It’s addicted to international students that pay full tuition, many of which are then coerced and pressured by the Chinese embassy and consulates and other networks to spy for the party and report back.’

‘American universities need to finally open their eyes and stop being willfully blind to the threat of the CCP. They’re vectors for intelligence gathering. They are vectors for these threats that target Americans on our own soil. That’s unacceptable. If sovereignty means anything, we need to be able to protect Americans within the borders of the United States. And universities cannot continue to be willing accomplices of the Chinese Communist Party.’

A Chinese embassy official said Wednesday he was unaware of the case involving two Chinese nationals charged with smuggling a ‘dangerous biological pathogen’ into the U.S. for university research.

‘I don’t know the specific situation, but I would like to emphasize that the Chinese government has always required overseas Chinese citizens to abide by local laws and regulations and will also resolutely safeguard their legitimate rights and interests,’ said Liu Pengyu, spokesperson for the Chinese Communist Party (CCP) Embassy in the U.S.

Fox News Digital’s Danielle Wallace and Charles Creitz contributed to this report


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As criticism mounts from within Biden’s world against former White House press secretary Karine Jean-Pierre and her new book, one ex-aide lambasted the now-Independent ombudswoman as ‘kinda dumb’ — a tweet he deleted but later stood by.

Timothy Wu, now a Columbia Law professor, was former President Joe Biden’s ‘architect’ of antitrust policy whose faculty bio claims he also coined the progressive term ‘net neutrality’ in 2002.

In a now-deleted tweet, Wu wrote: ‘from a [White House] staff perspective, the real problem with Karine Jean-Pierre was that she was kinda dumb.’

‘[She had n]o interest in understanding harder topics. Just gave random incoherent answers on policy,’ Wu added in the trashed tweet.

Jesse Watters unpacks Karine Jean-Pierre’s ‘backstabbing book’

The X account ‘I work with my word’ replied to the original tweet, calling it ‘pretty racist,’ and the tweet was later deleted, but the reply remained.

Below the reply, Wu added a new line of commentary, saying the Biden White House was ‘full of genius-level Black women. [Jean-Pierre] was not one of them.’ 

In response to another X user asking Wu whether Trump White House Press Secretary Karoline Leavitt understands executive policy, the professor said a good ombudsperson will ‘meet with policy staff and try and understand what the administration is doing and why.’

MONTAGE: Karine Jean-Pierre defends Biden

After Wu’s original tweet, fellow former Biden adviser Symone Sanders Townsend wrote on X that Democrats ‘going on the record or on background to call Karine ‘dumb’ or ‘stupid’ have crossed a line.’ ‘You can have a valid criticism about how she did the job, but let’s not walk down the road of disrespect,’ Sanders Townsend said.

Fox News Digital reached out to Wu via his Columbia faculty office, where he has taught since 2006.

The former Biden adviser was also a Democratic primary candidate for New York’s lieutenant governorship in 2014, and also worked in the Obama administration and at the Federal Trade Commission.

Jean-Pierre announced Wednesday that she left the Democratic Party and has become an Independent while revealing her upcoming book: ‘Independent: A Look Inside a Broken White House, Outside the Party Lines.’

She was mocked and criticized by several people in Biden’s orbit besides Wu, including one who said, ‘I wouldn’t ignore what Karine has to say, but it’s not an account in which much weight will be invested — just like her briefings.’

‘At noon on that day [that Biden left office], I became a private citizen who, like all Americans and many of our allies around the world, had to contend with what was to come next for our country. I determined that the danger we face as a country requires freeing ourselves of boxes. We need to be willing to exercise the ability to think creatively and plan strategically,’ Jean-Pierre said of her new Independent streak.

Fox News Digital’s Brian Flood and The Associated Press contributed to this report.


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Elon Musk and President Donald Trump’s feud about the ‘Big Beautiful Bill’ continued on Thursday when the tech billionaire responded to the president’s criticism in a post on X.

‘Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate. Such ingratitude,’ Musk wrote in a post responding to Trump’s remarks about him.

While speaking with reporters in the Oval Office, Trump said that he was ‘very disappointed’ by Musk’s vocal criticisms of the bill. The president claimed that Musk knew what was in the bill and ‘had no problem’ with it until the EV incentives had to be cut.

‘I’m very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people. He knew everything about it. He had no problem with it,’ Trump said. ‘All of a sudden, he had a problem. And he only developed the problem when he found out that we’re going to have to cut the EV mandate.’

Musk pushed back on the president’s claim in another post on X and said that ‘this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!’

The Tesla founder has been a vocal critic of the Trump administration and Republicans over the last few days because of the legislation that the president has pushed. Musk has taken to calling it the ‘Big Ugly Bill’ and at one point advocated for a ‘Slim Beautiful Bill.’

Earlier on Thursday, Musk highlighted Trump’s old posts that seemingly align with the tech billionaire’s current positions and objections to the Big Beautiful Bill. 

Musk has also faced criticism from House Speaker Mike Johnson, who said on Wednesday that he was ‘surprised’ by the former DOGE leader’s objections to the legislation. The Republican lawmaker said that he and Musk, whom he considers a ‘friend,’ had a ‘great conversation’ about the bill on Monday. Johnson told reporters on Wednesday that Musk was ‘flat wrong’ about the legislation.

Meanwhile, there are several Republicans who have expressed solidarity with Musk, including Rep. Thomas Massie, R-Ky., Sen. Rand Paul, R-Ky., and Sen. Mike Lee, R-Utah. Additionally, Sen. John Kennedy, R-La., said that Musk was right to be concerned that AMericans are ‘quickly becoming debt slaves.’

Now that the bill has passed the house, it’s up to the Senate to meet Trump’s July 4 deadline.


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A federal judge on Thursday ordered the Trump administration to restore millions of dollars in grant funding for AmeriCorps and to reemploy thousands of employees, ruling that the administration’s abrupt dismantling of the organization violated federal law. 

U.S. District Judge Deborah Boardman agreed to reinstate thousands of terminated AmeriCorps employees across 24 U.S. states and D.C., which sued the administration earlier this year over the steep cuts to the agency ordered by the Department of Government Efficiency, or DOGE.

She also ordered the Trump administration to restore hundreds of millions of dollars in congressionally approved funding for AmeriCorps programs, which were also slashed by DOGE earlier this year.

Boardman sided with plaintiffs in ruling that the Trump administration likely violated administrative procedures by ordering the abrupt cancellations and terminations, without a proper notice or comment period. 

While the decision does not require the Trump administration to keep the jobs in place indefinitely, it does require it to provide adequate notice before doing so.

AmeriCorps, an agency created by Congress more than two decades ago, had an operating budget of roughly $1 billion prior to this year, when it found itself squarely in the crosshairs of DOGE, the agency previously headed up by Elon Musk and tasked with eliminating wasteful spending.

In granting the preliminary injunction Thursday, Boardman said the 24 states have adequately demonstrated they are likely to suffer ‘irreparable harm’ from the gutting of AmeriCorps, absent court intervention, and that the balance of equities ‘heavily favors’ plaintiffs seeking injunctive relief.

‘Any harm the defendants might face if the agency actions are enjoined pales in comparison to the concrete harms that the States and the communities served by AmeriCorps programs have suffered and will continue to suffer,’ she said in the ruling. 

The preliminary injunction comes after DOGE in April abruptly announced it would be putting roughly 85% of all AmeriCorps staffers on leave.

It also announced mass Reduction of Force, or RIF, for AmeriCorps staff, and sent notice that they were planning to cut $400 million in grants and other funding from the agency. 

In their lawsuit, attorneys general from the 24 U.S. states and D.C. urged the court to reverse the cuts and terminations across AmeriCorps, citing the risk of irreparable harm, as well as the administration’s failure to properly notify employees of their terminations. 

Plaintiffs alleged that the Trump administration and DOGE had acted beyond the scope of their authority in gutting AmeriCorps, an agency created by Congress, without proper notice. 

They also asked the judge to halt the cuts to roughly $557 million in congressionally approved funding.

Importantly, the judge said Thursday that the order only applies to the states that joined the lawsuit. 

The news was praised on social media by New York Attorney General Letitia James, who described it as a victory, noting: ‘Over 200,000 AmeriCorps staff and volunteers work hard every day to care for our communities.’

‘This ruling ensures their valuable work can continue,’ she said.

Pennsylvania Gov. Josh Shapiro said the decision to halt the cuts to AmeriCorps will ‘help communities respond to natural disasters, support seniors and veterans, and keep our trails clean across Pennsylvania.’


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Recently, the S&P 500 ($SPX) has been racking up a good number of wins.

Since late April, the index has logged its third winning streak of at least five: a nine-day streak from April 22–May 2 and a six-day streak from May 12–May 19. That makes for a cluster of long winning streaks, which is something that also showed up in late 2023 and mid-2024.

To put it simply, these bunches of buying usually show up in uptrends. Note how there were no five-day winning streaks during the three corrections pictured on the chart below (in August–October 2023, July–August 2024, and February–April 2025). Most of the clusters happened as the S&P 500 was in the middle of a consistent upswing; the only time we saw a long winning streak occur right before a big downturn was in late July 2024. That came after a strong three-month run from the April lows, with the S&P 500 gaining 14% in three months.

CHART 1. WINNING STREAKS IN THE S&P 500. Since late April, the S&P 500 has logged a nine-day streak from April 22 to May 2 and a six-day streak from May 12 to May 19.

Currently, the SPX is up 23% in just under two months. It wouldn’t be surprising to see a break in the action at some point soon.

The key difference between now and July is that back in July, the S&P 500 was making new highs for two straight months. That’s not the case now, as the index is still below the February 2025 highs. So it’s not apples to apples, but, at some point, the market will have to deal with more than a minor pullback once again.

Sentiment Check

After the close on Wednesday, I ran an X poll asking if the 0.01% move was bullish or bearish. The result: 61% said bullish.

This tells us that most people saw Wednesday’s pause as a sign that the bears are unable to push the market higher, which could be true. But it also suggests complacency. The onus still is squarely on the bears to do something with this, with the only true sign of weakness in the last six weeks coming on May 21, when the S&P 500 plummeted 1.6%. That ended up being an aberration… for now.

UBER Stock: One to Watch

Sometimes, a specific stock can provide clues about the broader market’s next step. Right now, we think that the stock is UBER.

Technically speaking, UBER is at a critical spot, and it’s also an important stock given that it was one of the first growth names to break out to new all-time highs. The stock remains in a long-term uptrend, which, of course, is bullish, but it has quietly pulled back 13% from its May 20 high of $93 and was just down nine out of 10 trading sessions (see the weekly chart of UBER stock). We can see that the stock has fully retraced the price action from the pattern breakout near $82.

CHART 2. WEEKLY CHART OF UBER STOCK. The stock is in a long-term uptrend, although it has retraced. Here’s where things get really interesting. UBER has now formed a potential bearish head-and-shoulders pattern, seen on the daily chart. If the stock breaks below $82, it will target the 71-zone.

CHART 3. DAILY CHART OF UBER STOCK. Will UBER’s stock price hold support or break below it? This chart is one to monitor.

So, here are three outcomes to watch for. UBER’s stock price could:

  1. Hold support (bullish).
  2. Break below $82, but then reverse higher, which would be a bear trap (bullish).
  3. Break below $82 and continue lower and hit the downside target (bearish).

If #3 occurs, the odds are UBER won’t be declining by itself; it’ll likely drag the broader market down with it. This shows the significance of UBER stock, which certainly makes it one to keep an eye on.


Leading gold analysis firm Metals Focus published its annual flagship Gold Focus report on Thursday (June 5).

The report outlines the key trends influencing the gold market and price over the past year, noting that the metal experienced a remarkable run in 2024, driven by improving investor sentiment toward the yellow metal.

Throughout the year, the gold price surged at a blistering pace, starting 2024 at around the US$1,980 per ounce mark and reaching a peak of US$2,790 at the end of October. Since then, gold has continued to climb, setting repeated record highs since the start of 2025 — the most recent occurred on May 6, when gold reached US$3,437.

Metals Focus anticipates that the underlying conditions supporting gold’s record run will persist through 2025, with the price expected to reach a yearly average of US$3,210, a record high.

Yearly and quarterly gold price charts with 2025 forecast.

Yearly and quarterly gold price charts with 2025 forecast.

Charts via Metals Focus.

What’s behind the shift in investor sentiment?

Up until the start of 2025, investor sentiment remained low, particularly in western markets where exchange-traded funds (ETFs) saw outflows for much of the year. It wasn’t until October, as the price of gold approached the US$2,800 mark, that ETF inflows in the US and Europe began to gain positive momentum.

Significant purchases by central banks in Asia, the Middle East, and Eastern Europe provided essential pricing support for gold behind the price gains in 2024. Overall, central banks added a record 1,086 metric tons throughout the year.

This buying was driven by countries aiming to diversify their monetary holdings away from the US dollar, as gold serves as a non-liability-bearing reserve asset. The shift in monetary policy has gained attention over the past several years, especially after Russia’s invasion of Ukraine and growing concerns over US overreach following the country’s actions to cut Russia off from the global banking system and restrict the use of the US dollar.

Investors also noted the persistent tensions between Russia and Ukraine, along with fears that the Israel–Gaza conflict could escalate into a broader regional war, which further influenced sentiment in favour of gold as a haven asset.

Geopolitics, uncertainty provide additional price support in 2025

The underlying global drivers have persisted into early 2025, accompanied by new tailwinds for the gold market.

These include the chaos caused by US trade policy, which has created a rift between the world’s largest economy and key trading partners, notably Canada, Mexico, and China. Tariffs have heightened the expectation of a trade war that could affect supply chains and future trade agreements.

The severity, permanence, and outcomes of these measures have only just begun to be felt in the market. US market data registered a slight uptick in inflation numbers for May, and the US Federal Reserve suggested that uncertainty played a role in its decision to maintain interest rates at its last meeting on May 6-7.

Policies enacted by the Trump administration since the beginning of the year have led to a slowdown in global economic growth and have even raised the spectre of a recession as the tariffs threaten to reverse global central banks’ fight against inflation.

In addition to US foreign policy, its ballooning debt continues to erode confidence in the US dollar as the global reserve currency. The current US debt sits around US$37 trillion. The Trump administration pledged to tackle growing debt by cutting government spending through new initiatives like the Department of Government Efficiency.

However, a new spending bill that would essentially extend Donald Trump’s Tax Cuts and Jobs Act would reduce federal income by US$4.5 billion, with minimal decrease in spending to offset this loss.

The overall sustainability of the US economy has raised significant concern among investors, particularly as expectations suggest that Trump’s policies will worsen the debt crisis in the US. This has led to considerable instability in US and global equity markets since the start of the year, resulting in increased inflows into gold and gold-backed securities.

Supply and demand outlook

High prices are causing significant shifts in market demand, leading Metals Focus to predict a net decline of 9 percent in 2025, with total tonnage falling to 4,246 metric tons from the 4,669 metric tons recorded in 2024.

Leading the way is jewellery, the largest demand segment, which is projected to decrease by 16 percent in 2025, dropping from 2,011 metric tons in 2024 to 1,696 metric tons, with India and China contributing the most substantial declines.

In India, a shift towards lighter weight and lower karat pieces is expected to accelerate, while in China, high prices, weak consumer sentiment, and a sluggish economy will impact demand there.

In other countries, jewellery demand is likely to be affected by high prices, low consumer confidence, and economic uncertainty.

Gold supply and demand.

Gold supply and demand.

Chart via Metals Focus.

Additionally, central banks are expected to slow their pace of buying, with Metals Focus suggesting an 8 percent decline to 1,000 metric tons, down from the record 1,089 metric tons purchased the previous year.

However, these declines will be offset by increases in other sectors.

Net physical demand is predicted to rise by 2 percent to 1,218 metric tons from 1,191 metric tons in 2024 as more investors will be drawn to gold to diversify their portfolios amid economic uncertainty and geopolitical tension.

The expectation is that much of the increase will be driven by Chinese investment, followed by a recovery in European markets. Conversely, the US may experience some decline as investors there seek to take profits while gold continues to trade near record-high prices.

Gold supply is projected to see modest growth in 2025, with Metals Focus forecasting a 1 percent increase to 3,694 metric tons from the 3,661 metric tons recorded in 2024. Higher output is anticipated globally, with the exceptions of Asia, Oceania, and the Commonwealth of Independent States.

A significant contributor is a 19 percent increase in North American output as Artemis Gold’s (TSXV:ARTG,OTCQX:ARGTF) Blackwater mine, B2Gold’s (TSX:BTO,NYSE:BTG) Goose Project, and Calibre Mining’s (TSX:CXB,OTCQB:CXBMF) Valentine mine come online. Similarly, Central and South America are expected to see several new mines begin operations in 2025, resulting in a 23 percent increase in regional output.

The firm expects recycling to remain stable, despite predictions that gold prices will reach record highs for the remainder of 2025.

Metals Focus attributes this stability to weak retail destocking in China, which corresponds with low demand for jewellery. In the West, recycling is anticipated to be affected by near-market stock depletion and increased exchange rates of old for new jewellery in price-sensitive markets.

Furthermore, producer debt obligations must be addressed alongside periods of high capital expenditures for certain producers, which is anticipated to result in heightened hedging activity by year-end.

Investor takeaway

Overall, Metals Focus predicts a strong year for gold prices, driven by a global macro environment characterized by trade wars, economic uncertainty, and geopolitical tensions.

While higher prices may reduce discretionary spending on gold products, investors are turning to the gold market to diversify their portfolios, further contributing to a rise in gold prices in 2024 and 2025.

However, elevated prices will likely benefit producers who have spent recent years finding operational efficiencies and offsetting cost increases from a heightened inflationary environment. This situation has led to higher margins and a healthy balance sheet in 2024, which Metals Focus believes is likely to continue into 2025.

Although exploration activities faced a global downturn in 2024, there were notable exceptions. Metals Focus noted that mining data firm Opaxe recorded a 10 percent decrease in global exploration reports in 2024. However, Canada, Australia, and the US made up 70 percent of the total updates, indicating a preference for politically stable jurisdictions.

Investors in the gold market may benefit from paying attention to these trends, as producers aim to expand mining operations or seek new deposits to replenish depleting resources.

Securities Disclosure: I, Dean Belder, own shares of Calibre Mining.

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(TheNewswire)

Prismo Metals Inc.

Vancouver, British Columbia TheNewswire – June 5th, 2025 Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce the appointment of Gordon Aldcorn as President, effective immediately.

‘I am honored to take on the role of President at Prismo Metals during this exciting phase of the Company’s growth,’ said Mr. Aldcorn. ‘Prismo has built a compelling portfolio of high-potential precious and base metal projects in Mexico and Arizona, supported by a strong technical foundation and a clear exploration focus. I look forward to working with the Prismo team and valued partners to unlock further value for shareholders and advance our strategic.’

With a commitment to responsible mineral exploration and long-term stakeholder engagement, Mr. Aldcorn brings over 20 years of experience in capital markets and junior public company development including the past five years in corporate management of copper/gold exploration projects.

‘I am pleased that Gordon has agreed to join Prismo as President, taking over from Steve Robertson who transitions back to being an advisor, a role he took on back in January 2023,’ said Alain Lambert, CEO of Prismo. ‘I have known Gordon for many years, and I look forward to working with him to bolster our exploration and capital markets activities.’

Prismo Metals Inc. thanks outgoing President Steve Robertson for his service and leadership and is pleased Mr. Robertson will remain with Prismo in an advisory role.

‘I look forward to continuing to provide technical guidance in the role of Advisor as we go forward. Prismo’s Hot Breccia project remains one of the most compelling copper exploration projects I have seen, and I am committed to helping Prismo move this project forward,’ said Steve Robertson.

Prismo’s priority remains to undertake a 5,000-meter drill program at our Hot Breccia copper project located in the heart of the prolific Arizona Copper Belt. To achieve this important milestone, Prismo continues to engage in discussions with both potential investors and strategic partners already present in our district or wanting to gain a foothold in the district. Regarding our Palos Verdes silver project in Mexico, the Company continues to track the tremendous progress of our strategic partner Vizsla Silver Corp. as they move their exploration activities towards the northeast side of the Panuco district, where Palos Verdes is located. Finally, Prismo has recently been evaluating a select number of projects in North America that can provide tremendous exploration upside at attractive financial conditions.

‘Current market conditions are favorable for acquisition of precious metals and copper projects at advantageous terms and conditions. We favor drill ready projects in America close to excellent infrastructure,’ said Dr. Craig Gibson, Chief Exploration Officer of Prismo. ‘We feel that being active in exploring a third project would greatly add to shareholder value.’

The Board of Directors is confident that Mr. Aldcorn’s leadership will further strengthen Prismo’s position in the junior exploration space and support the advancement of its flagship Palos Verdes and Hot Breccia projects. Mr. Aldcorn was issued an aggregate of 150,000 restricted share units (the ‘RSUs’). Each RSU entitles the holder to be issued one Common Share on vesting. The RSUs will vest over one year, with one-third of the Options vesting every three months. Mr. Aldcorn was also granted 650 ,000 stock options (the ‘ Options ‘). The Options are each exercisable to purchase one common share of the Company at an exercise price of $0.075 for a period of five years. The Options will vest over one year, with one-third of the Options vesting every three months.

About Prismo Metals Inc.

Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Alcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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