We believe President Trump’s policies will be a net negative in the medium and long-run.

Gold and silver saw over 25% gains in 2024, with gold hitting $2,800 and silver reaching $35. ICICI Securities predicts further increases in 2025, driven by central bank buying and industrial demand.

Ten-year Treasury yields were hovering just shy of their highest since last May, and the 30-year yield was close to its ...