The global silver shortage:

The price gap between New York silver futures and London spot prices widened to $0.86 per ounce.

The last time silver experienced such a disconnect was in March, when fears of US tariffs on silver pushed prices higher.

At the same time, lease rates, the short-term borrowing cost of silver, jumped to 4.5%, far above the usual near-zero level, signaling a tightening market.

According to TD Securities, silver supplies are dangerously low, and the amount of freely available silver in London is at its lowest level on record.

As a result, silver prices have surged +5% over the last few days and briefly crossed above $39/oz for the first time in 14 years.

Precious metals are running hot.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Moscow has rejected US media claims about Putin’s stance on Iran's nuclear enrichment post-Israel-Iran war, saying that he doesn’t want Iran to denuclearize

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

BREAKING - Syria condemns Israeli strikes, holds Israel responsible for 'consequences'

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

#Vietnam. Biker slides across road after crash.

Hitting that static yellow curb - possibly concrete - with your neck ~20 mph and walking away. Adrenaline is one hell of a drug.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Equities rise modestly as tariffs, inflation data, and earnings remain in focus

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

A 12-year-old girl in Warwickshire was sent home from school for wearing a Union Jack dress on Cultural Diversity Day, with staff saying the event was meant to celebrate non-British cultures.

Those wearing burkas, niqabs, and kente cloth were allowed.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

NEW - Bessent says "formal process" underway to pick Powell successor as Powell's term nears its end in 2026

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

The Trump Administration Is About to Burn 500 Tons of Emergency Food

Nearly 500 metric tons of high-energy biscuits—enough to feed 1.5 million children for a week—are set to be incinerated after months of inaction by the Trump administration.

Purchased by USAID for $800,000 during the Biden administration and stored in Dubai, the biscuits were intended for children in Afghanistan and Pakistan.

But since January, a sweeping freeze on foreign aid and the dismantling of USAID under the new Department of Government Efficiency has paralyzed efforts to distribute them.

Despite repeated internal warnings, no approval was granted to move the food. By the time Secretary of State Marco Rubio assured Congress in May that the aid would be delivered, the destruction order had already been signed. The burn will cost taxpayers an additional $130,000.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Israeli forces let dozens of Druze cross the border fence in the Majdal Shams area and run into Syrian territory.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

NEW: Jamie Dimon says JPMorgan will enter the stablecoin space “to understand it, to be good at it” as Citi and BofA explore similar moves

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

NEW - Nikki Haley calls for Trump to "release the Epstein files and let the chips fall where they may."

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

BREAKING - Trump on Epstein files: 'I would say these files were made up by Comey and made up by Obama, made up by the Biden..'

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Mogadishu? Nope. Minneapolis

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

NEW - European Central Bank is "accelerating the pace" to roll out the "digital Euro" CBDC by October this year

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶

Trump:

At the end of 50 days, if we don't have a deal. It is going to be "too bad". The tariffs and other sanctions will go on.

🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶