1. The AI trade started with chips. Now it’s running into the electric grid. U.S. data center electricity demand could more than double by 2030, rising from roughly 167 terawatt-hours in 2023 to about 376 TWh by the end of the decade. The increase alone is roughly enough electricity to power 20 million average U.S. homes for a year, and closer to 25 million to 27 million homes if total power generation grows with demand. That shift is turning power from a background cost into a frontline constraint — and making battery storage part of the AI infrastructure story. Brett Conrad, Fixx Energy Chairman sees storage as part of the answer. “Energy storage is just such a critical component to American manufacturing and AI data centers and just providing consistent power for even consumers,” Conrad said at the June ETP Forum.
2. Spot gold and silver prices are weaker in thin holiday trading on Friday, with U.S. cash equity and bond markets closed for Juneteenth and rate-sensitive flows continuing to lean against precious metals following this week’s Federal Reserve meeting. At the time of writing, spot gold was trading near $4,154.70 an ounce, down 1.28%, while spot silver was trading at $64.71, down 1.33% in the session. Technically, spot gold bulls’ next upside price objective is to push prices back above the $4,180 to $4,200 resistance zone, with a sustained move targeting the $4,370 to $4,390 zone. Spot silver bulls’ next upside price objective is to drive prices back above the $65.00 to $66.00 area, with a move above that zone targeting $66.57 and then $68.32.
3. Bitcoin dropped 4% on Tuesday. The token turned lower overnight “as investors seem keen to cut their risk exposure all round,” noted David Morrison, senior market analyst at Trade Nation. “As things stand, it looks vulnerable to further weakness should investors continue to reduce their equity holdings,” he added. Bitcoin has struggled to make a comeback this year, with strategists warning that a cyclical bear market for cryptocurrencies may not be over. Bitcoin has underperformed broader markets since the March 30 market lows. The token is down 28% year-to-date and roughly 50% from its all-time high in early October.
4. The U.S. Dollar Index is breaking above the 100/101 zone, a level that has flipped between support and resistance in recent years. The easy historical read is risk-off. A stronger dollar can tighten financial conditions, pressure overseas earnings, weigh on commodities, and make life harder for emerging markets. Like many currencies and cryptocurrencies, the dollar index has a long history of false breakouts around obvious levels. A failed move back below 100/101 would put the old trading range back in play and could start a decline back toward last year’s low near 96-97. For now, the breakout has momentum. The dollar’s smaller rallies over the past year have come with rising RSI peaks; a sign buyers are pressing harder on each push higher.
5. In the week ending June 20, the advance figure for seasonally adjusted initial claims was 215,000, a decrease of 12,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 226,000 to 227,000. The 4-week moving average was 224,250, an increase of 750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 223,250 to 223,500.
6. Crude prices plunged by more than 3% on Friday, on course for steep weekly losses, on easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday. Brent crude futures fell $2.61, or 3.47%, to $72.65 a barrel while West Texas Intermediate lost $2.46, or 3.42%, to $69.46.
7. EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the U.S. Dollar, at the time when investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.
8. The USD/JPY pair continues with its struggle to reclaim the 162.00 mark on Friday and retreats slightly from the vicinity of a 40-year peak. Spot prices hit a daily low, around mid-161.00s, during the first half of the European session amid a combination of negative factors, though the downside potential seems limited.
For the first time since 2023, most Americans think it’s a better idea to buy a home than rent or move in with relatives. Fifty-three percent of respondents surveyed said it was better to buy a home now, up from 48% last year and 47% in 2024. While it’s still far more difficult to afford a home now than it was pre-pandemic, home price appreciation in much of the country has dropped below inflation and wage growth, and mortgage rates are slightly lower now than during the past three summers. As of May, the median home in the U.S. was listed for $429,500, according to Realtor.com. That’s down slightly from $440,000 last year, but 34% higher than May 2019, when the median was $319,500. Mortgage rates have been hovering around 6.5% in recent weeks, and recent home sales and contract signing data suggests more buyers are coming off the sidelines than last spring.
In the run-up to the internet bubble, the richest 20% of American consumers made up 50% of spending—boosted by the ballooning valuations of their portfolios. Fast forward to the era of AI, and again, the richest households in the U.S. are gaining confidence as their asset valuations grow. Only this time, the spending of the top 20% accounts for 60% of personal outlays, meaning economic growth is even more dependent on a small subset of households than in previous cycles. Meanwhile, outlays for the bottom 80% were unchanged once inflation is considered. This gap has persisted since the pandemic, which helps explain why most Americans are upset about their financial situations and the broader economy’s performance. This might explain the gap between economic data and consumer perception. The U.S. economy is, by many measures, faring well: Unemployment is holding relatively steady, GDP increased at an annual rate of 2.1% in the first quarter of 2026, and while inflation remains elevated, consumers are still spending. Price-to-earnings multiples are “sending up yellow, if not red flares.” It would be an overstatement to call the current stock market a bubble, but the warning signs are accumulating.
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Trading Department – Precious Metals International Ltd.
Friday to Friday Close (New York Closing Prices)
| Jun. 19, 2026 | Jun. 26, 2026 | Net Change | ||
| Gold | $4,155.78 | $4,075.82 | -79.96 | -1.92% |
| Silver | $64.83 | $59.03 | -5.80 | -8.95% |
| Platinum | $1,663.74 | $1,631.31 | -32.43 | -1.95% |
| Palladium | $1,257.71 | $1,211.68 | -46.03 | -3.66% |
| Dow | 51564.70 | 51859.39 | 294.69 | 0.57% |
Previous Year Comparison
| Jun. 27, 2025 | Jun. 26, 2026 | Net Change | ||
| Gold | $3,277.29 | $4,075.82 | 798.53 | 24.37% |
| Silver | $36.11 | $59.03 | 22.92 | 63.47% |
| Platinum | $1,344.58 | $1,631.31 | 286.73 | 21.32% |
| Palladium | $1,141.68 | $1,211.68 | 70.00 | 6.13% |
| Dow | 43818.50 | 51859.39 | 8040.89 | 18.35% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 4059/3959/3797 | 61.53/58.14/53.03 |
| Resistance | 4321/4483/4583 | 70.04/75.15/78.54 |
| Platinum | Palladiumn | |
| Support | 1601/1545/1420 | 1209/1154/1071 |
| Resistance | 1781/1895/1961 | 1347/1431/1485 |