Spot Price Update: Gold has been trending upward over the past several days, continuing the familiar pattern we've seen throughout the year—brief pullbacks followed by renewed buying momentum. Each dip is quickly met by demand, suggesting that many buyers are standing by, ready to step in. The biggest risk right now may be assuming another drop is coming and missing the window of opportunity altogether. Silver is also on the rise this week. Both metals appear to be regaining strength as investor interest remains strong in the face of broader market uncertainty.

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The Ratings Rollover: Moody’s became the latest to downgrade the U.S. government’s credit rating this past Friday, breaking from decades of maintaining a pristine AAA outlook. This follows Fitch’s downgrade in August 2023 and S&P’s precedent-setting move back in 2011. With all three major agencies now in agreement, the symbolic break from America’s long-standing fiscal reputation is complete. The major institutions of global finance are finally acknowledging that America’s fiscal trajectory is not immune to consequences.

Middle East Maneuvers: President Trump successfully strengthened U.S. ties with Saudi Arabia, Qatar, and the UAE. Since the 1970s, Saudi Arabia’s oil-for-dollars policy has been essential in sustaining worldwide demand for U.S. currency and debt. The reaffirmation of this alliance hints that, at least for now, Saudi Arabia will continue to prop up the dollar’s reserve status, buying Washington a little more time in a world that’s quickly waking up.