🔥🔥🔥 Gold Keeps Surging as U.S.–Iran Talks Stall

🥇 Gold: Broke above $4,400/oz, reaching its highest level in around 8 weeks.

📌 Key drivers:
🟣 Expectations for a Fed rate hike in September have fallen sharply following weak Nonfarm Payrolls + forecasts for a relatively mild July CPI.
🟣 China (PBoC) made strong purchases in July – the largest amount since October 2023.
🟣 Technical momentum + FOMO sentiment are pushing gold toward $4,500.

🔴 U.S.–Iran: Hopes for an agreement have cooled. Iran insists on negotiating only through Oman and is demanding compensation; Trump is tightening economic pressure and demanding compensation from Iran in return.

📈 Market reaction:
🖤 Oil has risen sharply (~6% recently, with Brent around $87).
🖤 U.S. stocks moved sideways and closed slightly lower.
🖤 Bitcoin fell from ~$65K to around $64K.

Markets are shifting into defensive mode – gold is benefiting from geopolitical risks + softer interest-rate expectations, while the risk surrounding the Strait of Hormuz continues to weigh heavily.

@BackcomGlobal

🔥 U.S. Strategic Petroleum Reserve (SPR) Falls to Lowest Level in 43 Years

🟡 Current level: 298.7 million barrels (down 6.1 million barrels last week) – the lowest since January 1983.
🟡 Before the U.S.–Iran conflict: Around 415 million barrels.
🟡 Release plan: Trump has approved the release of 172 million barrels. Once completed, the SPR is expected to fall to around 243 million barrels.

📌 Explanation:
🖤 The U.S. remains one of the world’s largest oil producers and is not heavily dependent on the Middle East.
🖤 The SPR is being used to supplement global supply while the Strait of Hormuz remains disrupted, helping to curb oil and gasoline prices.
🖤 Some U.S. oil is also exported overseas.

🔴 Risk: If the Strait of Hormuz remains blocked after the release program ends, oil prices could rise again while U.S. emergency reserves have already been significantly depleted.

@BackcomGlobal

🐷 Trump Media Posts Around $361 Million in Crypto Losses in the First Half of 2026

👉 Main reason: A sharp decline in crypto prices.

💰 Bitcoin (as of June 30):
🖤 Holds 9,477 BTC (down 65 BTC from the end of March).
🖤 Value fell from around $836 million to $557 million.
🖤 Around 67% of its BTC holdings are being used as collateral or are tied to options strategies.

🔴 CRO: Still holds 756 million tokens, but their value fell from $68 million to $40.6 million.

✅ Plan: Recently canceled its partnership with Crypto.com to establish a CRO treasury company.

Trump Media has suffered significant losses due to crypto price volatility, while also scaling back its activities related to the sector.

@BackcomGlobal

🔥🔥🔥 Markets Await U.S. CPI

🖤Gold: Holding steady near $4,380 – $4,400.
🖤 U.S. stocks: Moving sideways, slightly lower.
🖤 Bitcoin: Down to around $63,000 – $63,800, awaiting the CPI release.

🔴 Key data (12:30 UTC): U.S. July CPI inflation
🖤 CPI Y/Y: Forecast at 3.4% (previously 3.5%)
🖤 Core CPI Y/Y: Forecast at 2.5% (previously 2.6%)

🛢Oil: Up another ~2% as tensions between the U.S. and Iran continue, including attacks on vessels, while there has been no progress toward reopening the Strait of Hormuz.

📈 Markets are largely standing still, waiting for CPI data to determine the next direction.

@BackcomGlobal

🔥🔥🔥 Oil Continues to Rise

🛢 Oil prices climbed another ~2% (Brent around $89–90, WTI around $83–84) as:

🖤 U.S.–Iran tensions remain elevated, with no progress toward reopening the Strait of Hormuz.
🖤 Reports have emerged of attacks on vessels in the Hormuz and Bab el-Mandeb regions.
🖤 Iran insists it will only reopen Hormuz if the U.S. meets its conditions.

📈 The oil market remains heavily driven by geopolitical developments.

@BackcomGlobal

🔥🔥🔥 Trump Considers Cutting Capital Gains Taxes for U.S. Investors

✊ Ahead of the midterm elections, Trump is considering calling on Congress to reduce capital gains taxes by adjusting gains for inflation (indexing capital gains).
👉 What it means:
🖤 This could be a major vote-winning move among U.S. investors ahead of election season.
🖤 It could attract additional capital into the market.
🖤 The last capital gains tax cut was back in 2003.

The proposal is still under consideration and would require Congressional approval before taking effect.

@BackcomGlobal

🔥🔥🔥 SEC Prepares 2 Major Plans for Crypto

🏙 With the CLARITY Act stalled in the Senate, the SEC is moving ahead on its own:
🟣 August 14: Meeting to discuss a dedicated issuance framework for crypto contracts → helping projects issue tokens under clearer rules without automatically being subject to traditional securities laws.
🟣 Innovation Exemption: Allows limited experimentation with trading tokenized securities on blockchain while the SEC develops a long-term regulatory framework.

Both the SEC and CFTC are not waiting for Congress to act and are prepared to introduce their own regulations.

@BackcomGlobal

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🔥🔥🔥 U.S. 🇺🇸 July CPI Inflation

🟣 CPI Y/Y: 3.4% (Forecast = 3.4%, Previous = 3.5%)
🖤 CPI M/M: 0.1% (Forecast = 0.1%, Previous = -0.4%)

🟣 Core CPI Y/Y: 2.5% (Forecast = 2.5%, Previous = 2.6%)
🖤 Core CPI M/M: 0.2% (Forecast = 0.2%, Previous = 0.0%)

The CPI report came in exactly as expected. The probability of a Fed rate hike in September continues to fall, now down to just 34%.

@BackcomGlobal

🔥🔥🔥 U.S. July CPI Cools as Expected 🇺🇸

🏙Both inflation indicators declined in line with expectations:
🟣CPI Y/Y: 3.4% (previously 3.5%)
🟣Core CPI Y/Y: 2.5% (previously 2.6%)
👉Expectations for a Fed rate hike in September fell from around 50% to 40%.

📈Market reaction (mild, mostly sideways):
🖤Gold: Rose nearly 1%, still hovering around $4,400.
🖤U.S. stocks: Mixed. The Dow edged lower, while the S&P 500 and Nasdaq gained. AI stocks led the market, with SpaceX surging sharply (~10%) on news of the Grok 4.6 launch.
🖤Bitcoin: Rose ahead of the data, then pulled back to around $63,000 after the release.

🔴Today, the market will turn its attention to the PPI data:
🖤 PPI Inflation Y/Y (Forecast = 5.0%, previous = 5.5%)
🖤 Core PPI Inflation Y/Y (Forecast = 4.3%, previous = 4.7%)

@BackcomGlobal

🔥🔥🔥 U.S.–Iran Conflict Update

🔈 Both sides remain in a standoff, with no meaningful breakthrough so far:

🇵🇰 Pakistan (mediator): Says negotiations are making progress and that the two sides are “close to reaching some kind of agreement” on Hormuz.
🇮🇷 Iran: Immediately denied the claim, insisting that Hormuz will only be reopened if the U.S. meets its conditions (lifting the blockade, paying compensation, releasing frozen assets, etc.).
✊ Trump: Continues to declare that the U.S. has full control of the Strait of Hormuz, while also demanding compensation from Iran.

The situation remains deadlocked, with no signs that the Strait of Hormuz will reopen in the near term.

@BackcomGlobal

👍 Trump Sued Over Selling Early Access to Truth Social Posts

🏙 The Intercept Media and the Freedom of the Press Foundation have filed a lawsuit in New York, seeking to block the U.S. President’s plan.

📌Reasons for the lawsuit:
🖤 They argue that selling early access is corrupt and unconstitutional.
🖤 Trump’s posts often have a direct impact on financial markets.
🖤 If a group of paying customers (up to $100,000 per month) can receive posts a few seconds or minutes before the public, they could gain an unfair trading advantage.

The two organizations want the court to block this service.

@BackcomGlobal

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🔥 Wall Street Giant Spends $2.25B to Acquire Crypto ETF Firm

🟣Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion (cash + stock).
🟣NEOS manages around $30–32 billion across 19 ETFs, including BTC- and ETH-related ETFs.
🟣The deal involves acquiring the entire company (team, products, clients, and distribution channels) and is expected to close in Q1 2027.

📌Context: In the previous quarter, Goldman significantly reduced its crypto ETF exposure (BTC down ~10%, ETH down ~70%, and fully exited XRP and SOL). The NEOS acquisition suggests Goldman is shifting toward a more stable management fee model rather than directly investing in the currently sluggish crypto market.

This is a clear signal that Wall Street giants are prioritizing the more stable “steady fee income” model instead of taking on the volatility risk of holding crypto directly.

@BackcomGlobal

🔥🔥🔥 U.S. Producer Price Index (PPI) — July

🟣PPI Y/Y: 4.7% (Forecast = 4.9%, Previous = 5.5%)
🖤PPI M/M: 0.0% (Forecast = 0.2%, Previous = -0.3%)

🟣Core PPI Y/Y: 4.2% (Forecast = 4.2%, Previous = 4.7%)
🖤Core PPI M/M: 0.2% (Forecast = 0.3%, Previous = 0.2%)

@BackcomGlobal

🔥🔥🔥 U.S. July PPI Cools More Than Expected

⚡️The Producer Price Index (PPI) for July continued to decline significantly, coming in weaker than market expectations:

🟣PPI Y/Y 4.7% (Forecast = 4.9%, previous month = 5.5%)
🖤PPI M/M 0.0% (Forecast = 0.2%, previous month = -0.3%)
🟣Core PPI Y/Y 4.2% (Forecast = 4.2%, previous month = 4.7%)
🖤Core PPI M/M 0.2% (Forecast = 0.3%, previous month = 0.2%)

➡️ The result pushed the probability of a Fed rate hike in September down further from around 40% to 35%.

📈Market Reaction:
🟣 U.S. stocks benefited clearly:
🖤The S&P 500 hit a new all-time high, while the Dow Jones and Nasdaq both closed higher. Technology stocks led the rally.
🖤Crypto-related stocks (CRCL, MSTR, HOOD…) also gained 2–3%.
🟡 Gold & Bitcoin moved in the opposite direction:
🖤Gold pulled back to around $4,300.
🖤BTC briefly dropped to $62,000 before recovering.

The market is reinforcing expectations that the Fed will keep interest rates unchanged at its upcoming meeting.

@BackcomGlobal

🔥🔥🔥 U.S. – Iran Prepare for a Prolonged Conflict

🇮🇷 Iran says it is prepared to prolong the conflict until the end of Trump’s term.
🇺🇸 The U.S. is deploying an additional aircraft carrier to the Middle East to strengthen its military presence.
🏙 Treasury Secretary Scott Bessent threatened to impose unprecedented measures against Iran.

Both sides are becoming increasingly hardline, raising the risk that the conflict could drag on and escalate further. 😄😄😄

@BackcomGlobal

🔥🔥🔥 SEC Delays 2 Major Crypto Initiatives

🔴 The SEC canceled its meeting scheduled for August 14 and postponed two key initiatives:

🖤 A tailored offering framework for crypto contracts (Reg Crypto / tailored offering regime).
🖤 An Innovation Exemption for trading tokenized securities on blockchain networks.

📌Reason: An unexpected scheduling issue + concerns raised by Wall Street and the White House over the potential legal and market impact.

A new announcement date has not yet been set.

@BackcomGlobal

🔥🔥🔥 Could the BOJ Raise Interest Rates as Early as September?

🏙 According to Tokyo Tanshi, around 74% of the market is leaning toward the BOJ raising interest rates at its September meeting.
🟣 Prime Minister Sanae Takaichi’s government has shown support for an earlier rate hike.
🟣 Main reason: The prolonged weakness of the Japanese Yen is pushing import prices higher, increasing inflationary pressure.
🟣 The USD/JPY exchange rate is currently trading around/below the 160 level.

If it happens, this would be the third rate hike in just 12 months since Takaichi took office — Japan’s fastest pace of monetary tightening since 1989.

@BackcomGlobal

🔥🔥🔥 Tether Completes the Largest Audit in Company History

🪙 After more than 10 years of operation, Tether has completed its first full financial statement audit for 2025, conducted by KPMG (one of the Big Four accounting firms).
🟣 KPMG conducted a comprehensive review of cash flows, reserve assets, obligations related to issued tokens, transaction records, and even the company’s gold holdings.
🟣 Result: Tether received the highest positive assessment — an unqualified opinion.
🟣 As of the end of 2025, Tether’s reserve assets exceeded its total liabilities by $6.814 billion.

This marks a major step forward in Tether’s transparency after years of scrutiny. So far, only the audit result has been announced, while the detailed report has not yet been made public.

@BackcomGlobal

🔥🔥🔥 Trump “Warns” Iran: No Apology, and Hormuz Will Belong to the U.S.

👍 President Trump has once again escalated his rhetoric, declaring that:
🟣 He will never apologize to Iran for the attacks.
🟣 After “defeating” Iran, he will soon declare the Strait of Hormuz U.S. territory.

🔴 The gap between the two sides is widening further. One side is demanding permanent ownership, while the other says it is prepared to prolong the war until the end of Trump’s term. The room for negotiations is shrinking by the day.

Hormuz is no longer just a strait… it may soon become the hottest “real estate” dispute on the planet. 😄😄😄

@BackcomGlobal