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Gold Eyes $4,000 Surge

Bank of America has issued its most bullish gold forecast to date, projecting the precious metal could rally to $4,000 per ounce within 12 months as escalating Middle East tensions drive demand for safe-haven investments.

The precious metal climbed 1.3% to $3,428.10 per ounce on Friday, June 13, nearing its all-time peak of $3,500.05 reached in April. Trading during the week of June 9-13 saw gold advance roughly 4% as Middle East conflict fears intensified following Israeli military action against Iran.

You can read more on the matter here.

What’s going on?

• Trump Admin OKs US Steel Buyout With “Golden Share” For White House’s Perpetual Veto (theDeepDive)

• Meta is finally bringing ads to WhatsApp (CNBC)

• Is Trump Moving Forward with Marijuana Rescheduling? (theDeepDive)

• Trump Says Trade Deal With Canada ‘Achievable’ as G-7 Opens (Bloomberg)

• Canada Sees Housing Starts Remain Flat In May (theDeepDive)

• Ottawa told Trump that visa crackdown led to fewer Indians, Bangladeshis illegally crossing the border (Globe)

• Utah Seeks to Build Second US Uranium Enrichment Facility (theDeepDive)

• Trump Organization to launch mobile phone service and $499 gold handset (FT)

• Ford Facing Critical Shortages Of Rare Earth Magnets (theDeepDive)

• Hudbay Minerals resumes mining in Snow Lake after wildfire evacuation orders lifted (Globe)

What’s the latest?

• Markets: U.S. stocks rebounded Monday as fears over a wider Middle East conflict eased. The S&P 500 rose 1.1%, the Dow gained 449 points, and the Nasdaq climbed 1.4%. Oil prices fell 3.3% to US$70.59 after reports Iran may seek to de-escalate tensions. Gold also dipped 1.1% to US$3,413.40. Investors now shift focus to upcoming Fed rate decisions and ongoing tariff negotiations at the G7 summit.

• Real Estate: Canadian home sales fell 4.3% year-over-year in May, with 49,423 properties sold, but rose 3.6% from April—the first monthly gain in over six months. The national average sale price dipped 1.8% to $691,299, while new listings rose 3.1%. Analysts say the market is stabilizing but remains flat amid affordability challenges, high mortgage rates, and ongoing trade uncertainty.

• Trump: Donald Trump’s family has launched Trump Mobile, a U.S. smartphone and wireless service brand, licensing the Trump name for a $499 smartphone and $47.45 monthly plan. The service will run on major U.S. carriers via MVNO agreements, but the Trump Organization won’t handle phone design or cellular infrastructure. While marketed with features like telemedicine and roadside assistance, analysts say profitability is uncertain unless it surpasses 1 million subscribers. Critics argue the move highlights how Trump continues to use the presidency to grow family wealth through licensing and crypto ventures.

• Gucci: Kering has appointed Renault CEO Luca de Meo as its new chief executive, effective September 15, in a bold move to revive its struggling luxury empire. De Meo, the first outsider to lead the Pinault family-controlled group, is credited with turning around Renault and is seen as a product-focused leader with strong marketing expertise. Kering shares jumped nearly 12% on the news, while Renault stock dropped about 8%, reflecting investor concerns over the surprise exit. De Meo inherits a company weighed down by over €10 billion in debt and a floundering Gucci brand that has lost investor confidence.

• Warner Bros: Warner Bros Discovery bondholders have approved a plan to split the company into two publicly traded entities—separating its streaming and studio arm from its cable networks. The approval includes a restructuring of its $37 billion debt, with plans to repurchase nearly half. While most bondholders supported the move, some raised concerns about being left with unsecured debt tied to the declining cable business. The company’s credit rating has been downgraded to junk by major agencies, prompting forced bond sales by investment-grade funds.

Simply Solventless Q4 Earnings

The stock market and stuff

• $450 Error Nukes Novo Nordisk’s Ozempic Patent, Opening Canada To Generics (theDeepDive)

• U.S. Steel shares rise after golden share details unveiled (Reuters)

• Equinox Gold: Guidance Cut After Issues At Greenstone (theDeepDive)

• First Majestic Silver: The Santa Elena Mine (theDeepDive)

In the juniors

• Augusta Gold Obtains Letter Of Interest From EXIM For Reward Project (theDeepDive)

• Simply Solventless Q4 Earnings: So Much For Guidance (theDeepDive)

• Power Metallic Secures Jabal Baudan Project In Saudi Arabia (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.