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September 20, 2025

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Gold hit yet another new price record this week, rising past US$3,700 per ounce.

The yellow metal broke that level on Wednesday (September 16), the first day of the US Federal Reserve’s meeting, and then did it again the next day just after the gathering wrapped up.

The Fed was widely anticipated to cut interest rates, and that’s exactly what happened — it announced a 25 basis point reduction to the 4 to 4.25 percent range, with Chair Jerome Powell describing it to reporters as a ‘risk-management cut.’

Although inflation is still outside the Fed’s 2 percent target, Powell said the central bank has shifted its focus toward the jobs market due to a change in the balance of risks — in his view, it’s no longer possible to call the labor market ‘very solid.’

‘Labor demand has softened, and the recent pace of job creation appears to be running below the break-even rate needed to hold the unemployment rate constant.’ — Jerome Powell, US Federal Reserve

All Fed governors were in favor of the 25 basis point cut, with the exception of new addition Stephen Miran, who wanted to see a 50 basis point decline. Miran, who is on leave from his position at the White House Council of Economic Advisers, was confirmed by the Senate this week. He was selected by US President Donald Trump to replace Adriana Kugler.

Miran’s new role at the Fed has raised questions about the central bank’s independence, as Trump has now nominated three out of seven governors. Lisa Cook, who Trump attempted to fire in August, ultimately did not lose her position after a federal appeals court ruling.

Looking forward, the Fed’s latest dot plot shows policymakers expect two additional 25 basis point cuts this year, which would take rates to the 3.5 to 3.75 percent level.

In 2026, they are currently anticipating only one quarter-point reduction.

Going back to gold, it took a breather after passing US$3,700, sinking back down to the US$3,640 level after the Fed’s meeting. It was back at up at US$3,685 as of Friday (September 19) afternoon.

While that’s a fairly big move in a short amount of time, many experts agree that right now it’s the big picture that’s important for gold, not day-to-day factors.

Here’s how Will Rhind of GraniteShares explained it:

‘I think the main thing that’s driving gold, like I said, is this alternative to the dollar. People want an alternative to fiat money and particularly the dollar, and also to traditional stocks and bonds. And so gold’s appeal as being a genuine alternative, an uncorrelated alternative grows by the month, seemingly.’

Bullet briefing — Gold M&A heats up, GDX switches index

Newmont announces sale of Coffee

Denver Gold Group hosted its Mining Forum Americas in Colorado Springs this week, bringing together the gold sector’s major players — and with them a slew of news.

Among the major transactions announced was Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) sale of its Yukon-based Coffee project to explorer Fuerte Metals (TSXV:FMT,OTCQB:FUEMF), formerly Atacama Copper, for total consideration of up to US$150 million.

The Coffee transaction is the latest in a series of divestments from Newmont, which is looking to cut costs and hone in on tier-one assets after buying Newcrest Mining in 2023. Once the deal goes through, Newmont will have sold all six operations and two projects it set out to trim.

‘The sale of the Coffee Project reflects our ongoing efforts to streamline the portfolio and sharpen our focus on core operations’ — Tom Palmer, Newmont

During the last gold bull market, major miners were criticized for doing high-priced deals and letting costs spiral out of control — this time, they appear to be taking steps to avoid that.

Alamos to divest Turkish subsidiary

Also divesting an asset this week was Alamos Gold (TSX:AGI,NYSE:AGI), which said it plans to sell its Turkish subsidiary to a unit of industrial conglomerate Nurol Holding.

The US$470 million agreement will take several assets off Alamos’ hands, including its Kirazlı gold project, which has been blocked since 2019, when its mining licenses were not renewed amid protests. Alamos filed a $1 billion claim against Turkey in response, but said arbitration will be suspended and ultimately discontinued if certain contractual milestones are met.

‘This transaction marks a positive outcome, allowing us to crystallize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects’ — John A. McCluskey, Alamos Gold

Zijin Gold plans IPO

Zijin Gold International, which operates all of Zijin Mining Group’s (OTC Pink:ZIJMF,HKEX:2899,SHA:601899) mines outside of China, is lining up a Hong Kong initial public offering (IPO) that could raise over US$3 billion.

Trading is set to begin on September 29, and the deal will value Zijin Gold at US$24.1 billion. According to Zijin Gold’s prospectus, it ranks ninth and eleventh globally in terms of gold reserves and production, respectively. The IPO is reportedly the world’s largest since May, and of course comes as gold continues on its record-setting price run.

GDX makes index switch

The VanEck Gold Miners ETF (ARCA:GDX), better known as GDX, began tracking a new index on Friday. It now follows the MarketVector Global Gold Miners Index.

VanEck announced the change at the beginning of June, saying that it would coincide with GDX’s regular index reconstitution and rebalance cycle. In an update this week, the company shared how the shift will impact weightings for its holdings. While in many cases the difference is less than a percentage point, there are some larger changes — for example, Newmont’s weighting is falling by 6.04 percent; in addition, some companies have been removed or added.

So far VanEck hasn’t announced changes for the VanEck Junior Gold Miners ETF (ARCA:GDXJ). Adjustments to that fund could be interesting — market participants often note that it doesn’t provide true exposure to exploration-stage companies.

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

This post appeared first on investingnews.com

Recently, Rebecca Taibleson appeared before the Senate Judiciary Committee for her confirmation hearing to a Wisconsin-based seat on the United States Court of Appeals for the Seventh Circuit, a key step toward further solidifying President Trump’s strong judicial legacy. In choosing Taibleson, Trump selected a standout from a highly qualified field. She’s not only a seasoned prosecutor and sharp legal thinker, but she’s a proven defender of the Constitution and conservative values.

Taibleson spent over a decade as a federal prosecutor in the Eastern District of Wisconsin, putting violent criminals behind bars. She doesn’t just theorize about public safety–she delivers it. She handles complex appeals and knows how to write strong legal arguments, and she wins cases and protects communities. Every day in her career, she applies the law with clarity, discipline, and purpose.

Most importantly, in her role as the co‑chief of the Appellate Division of that U.S. Attorney’s office for nearly a decade, not only did Taibleson imprison violent and dangerous criminals who were terrorizing the community, she ensured they stayed there. There are too many weak judges who free criminals when they should rot in prison for their crimes. Rebecca Taibleson is not one of them.

Her credentials speak for themselves. She clerked for the late, great Justice Antonin Scalia and then-Judge Brett Kavanaugh. She embraced a constitutionalist philosophy early in her career and never wavered. At her Senate confirmation hearing, she made it crystal clear: judges must interpret the law as written, not how they wish it were written. Judges must not rewrite laws based on personal views or political trends. She follows the original public meaning of the law and honors the Constitution.

Taibleson also knows how to stand her ground. During one of the most brutal nomination fights in recent memory, she stepped up and testified in support of her former boss Brett Kavanaugh, a nomination fight for which I helped lead the charge as Chairman Chuck Grassley’s chief counsel for nominations on the Senate Judiciary Committee. While the left smeared and attacked, Rebecca Taibleson didn’t flinch. She stood firm in defense of the rule of law and the truth. That moment proved her courage and character.

She also served in President Trump’s solicitor general’s office — the top government appellate advocates. She fought and won legal battles at the Supreme Court. She defended Trump administration policies on immigration, religious liberty, and constitutional limits. She didn’t just serve under President Trump, she helped him win. Her record shows loyalty, competence, and backbone.

Some groups have raised concerns—and even opposition before they had a chance to watch her testimony at her Senate confirmation hearing. Some are fair points; most are not. They wanted someone else. They’re circulating misleading claims and ignoring facts. They’re criticizing a nominee who far exceeds the standard for confirmation. President Trump and his team reviewed many good candidates. Like with any nominee, they balanced all the pros and cons. While no nominee is ever perfect, Rebecca Taibleson proved through her long record and unflinching public testimony that she is outstanding. She has a proven track record of being bold and fearless.

Taibleson handled her confirmation hearing exactly the way a strong nominee should. She didn’t dodge questions or pander. She answered directly and confidently and laid out her commitment to textualism, originalism, and constitutionalism. She emphasized the separation of powers and reminded the Senate that judges don’t make policy. Elected officials do.

On precedent, she spoke with clarity. She said Dobbs v. Jackson controls abortion law, and she will follow it. She refused to play politics with hot-button issues, but she left no doubt about her commitment to the Constitution.

She also promised to bring civility and discipline to the bench. She won’t use opinions to take swipes at parties, public officials, or opposing views. She respects the role of the judiciary and knows the difference between law and politics. She pledged to uphold judicial restraint.

Taibleson’s background shows real-world depth. Early in her career, she worked with Israel’s national emergency medical, disaster, ambulance, and blood bank service Magen David Adom during the Second Intifada. She helped defend civilians from terrorist attacks. That experience gave her a deeper understanding of law, national security, justice, and what is at stake for Western civilization. It also showed her values: courage, service, and loyalty to free societies under attack.

Taibleson has answered the questions raised by her detractors from the left and the right. She addressed every issue and demonstrated exactly why she belongs on the Seventh Circuit. Her hearing and record proves her fitness. She showed strength, clarity, and deep legal knowledge. And she put to bed any concerns.

President Trump built the best judicial legacy in a generation. He transformed the Supreme Court into the first constitutionalist Court in 90 years. He reshaped the federal judiciary with principled, constitutionalist judges. He made those choices carefully, and he made the same careful decision here. Rebecca Taibleson fits that mold. She brings real experience, proven loyalty, and a first-rate legal mind.

The Senate must confirm this bold and fearless judicial nominee. She earned this seat by standing up when it counted. She served President Trump with distinction and fought for her country in the courts. She prosecuted criminals and protected communities. She embraces originalism and the rule of law.

President Trump chose right. The Senate must finish the job.

This post appeared first on FOX NEWS