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HYMC CEO Diane Garrett now predicts precious metals will continue to skyrocket as silver and gold break major levels.

Diane Garett, known as the CEO of Hycroft Mining (HYMC), the company acquired by AMC Entertainment in 2022, shared her thoughts on X.

“Silver breaking past $32 today is yet another indication we’re at the start of a precious metals bull market.

UBS Group says that #silver will ultimately outperform gold.”

Gold has emerged as one of the top-performing assets of 2024, reaching new record highs several times against a backdrop of worsening economic conditions and ongoing debt accumulation.

According to analysts at UBS, this upward trend is likely to persist, driven by expectations of lower interest rates and increasing geopolitical tensions.

Earlier this month, gold hit an all-time peak of $2,607 per ounce, marking a more than 25% increase year-to-date.

UBS analysts pointed out that this surge is influenced not only by anticipated lower yields but also by macroeconomic and geopolitical uncertainties, as well as central banks diversifying their reserves away from the U.S. dollar.

The analysts noted that geopolitical tensions are expected to last beyond the fourth quarter, especially with uncertainty surrounding future U.S. government policies and ongoing conflicts in Ukraine and Gaza that show no clear resolution in sight.

They emphasized that gold is likely to remain a preferred hedge against both geopolitical risks and interest rate fluctuations.

Historically, gold has outperformed equities during times of high volatility, a trend that has continued in recent months despite a more cautious market outlook on the Federal Reserve’s pace of rate cuts.

However, UBS forecasts that the rally in gold prices could extend further, projecting a price target of $2,700 per ounce by mid-2025.

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Also Read: AMC CEO Adam Aron Now Announces A New Investor Incentive

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TD Bank now gets caught with illegal market manipulation and has agreed to pay over $20 million under a deal with the SEC.

Investors are calling it ‘pay to play’.

The U.S. broker-dealer unit of Toronto Dominion Bank (TD Securities USA) has agreed to pay more than $20 million to resolve allegations of manipulating the U.S. Treasuries market.

This settlement comes as part of an agreement with U.S. authorities, concluding a lengthy investigation, per Reuters.

In a court filing on Monday, TD Securities admitted to engaging in spoofing practices within the U.S. Treasuries market as part of a deal with the U.S. Justice Department.

The firm also settled related civil charges with the Securities and Exchange Commission (SEC).

Additionally, the bank faced charges for not properly supervising its former head of the U.S. Treasuries trading desk.

From April 2018 to May 2019, a former employee manipulated the U.S. Treasury cash securities market by placing orders he had no intention of executing, a tactic known as “spoofing.”

This practice aims to create a misleading impression of market demand.

U.S. regulators have taken a strong stance against spoofing, which is designed to distort market activity.

However, the criminal bank has now been let go off what investors deem as ‘easily’.

Under the terms of TD’s agreement, the Justice Department will refrain from prosecuting the firm as long as it adheres to the three-year agreement and implements significant compliance improvements.

The DOJ decided not to appoint a third-party monitor for compliance, based on the company’s efforts to address the issues.

As part of the settlement, TD Securities will pay a $12.5 million criminal penalty related to civil investigations by the SEC and the Financial Industry Regulatory Authority (FINRA).

This amount is in addition to an approximately $9.5 million criminal penalty outlined in the agreement.

The bank will also compensate victims with $4.7 million and forfeit $1.4 million.

This settlement comes at a time when the Canadian bank is reportedly on the verge of pleading guilty to separate charges concerning its U.S. retail bank’s alleged failure to prevent money laundering linked to Chinese crime groups and illegal fentanyl sales, as reported by the Wall Street Journal last week.

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Also Read: TD Bank Customers Now Say They Cannot Access Their Money

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Russia and China now plan to respond against USA threats Foreign Ministry spokeswoman Maria Zakharova said.

On Wednesday, Russia emphasized that its partnership with China is not intended to target third countries; however, the two nations may “combine potential” if they perceive a threat from the United States.

Foreign Ministry spokeswoman Maria Zakharova stated that Moscow and Beijing would respond decisively to what she termed “double containment” by the U.S., particularly in light of discussions regarding the potential deployment of U.S. missiles in Japan.

According to a report by The Japan Times on September 7, the U.S. is considering deploying a Typhon mid-range missile system in Japan for joint military exercises.

Zakharova asserted that both Russia and China would address any significant missile threats with concrete measures, emphasizing that their response would be far from merely political.

“Our strategic partnership is not aggressive in nature,” Zakharova explained during her weekly briefing.

“Our relations are not directed against third countries… This is a defensive position, not an initiative aimed at targeting others.”

When questioned by Reuters, she added, “If an aggressive policy is being pursued against us, why shouldn’t we combine our strengths to respond appropriately?”

The partnership between Presidents Vladimir Putin and Xi Jinping has deepened since they signed a “no limits” agreement in 2022, shortly before Russia’s military actions in Ukraine.

In May, the leaders reaffirmed their commitment to a “comprehensive partnership and strategic cooperation” for a new era.

While Russia and China have not established a formal military alliance, Putin recently characterized their relationship as one of “allies in every sense of the word,” reports Reuters.

The two nations have conducted joint military exercises, including naval drills that commenced this week.

During these exercises, Putin cautioned the U.S. against attempts to enhance its military presence in the Asia-Pacific region, asserting that such actions would not go unnoticed.

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Also Read: US Military Is Now Sending Reinforcements To Middle East

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Israeli and Iranian leaders have now exchanged warning threats, highlighting the deepening crisis between their nations.

Israeli Prime Minister and Iran’s President have exchanged threats — Benjamin Netanyahu vowed a firm response to any threats, while Masoud Pezeshkian pledged retaliation.

At a ceremony in Jerusalem, Israeli Prime Minister Benjamin Netanyahu addressed the nation with a resolute tone.

Amid a backdrop of rising regional tensions, Netanyahu declared, “Anyone who harms our country will be held accountable. Iran and its proxies seek to surround us with a stranglehold of terror on seven fronts.

Their visible aggression is insatiable, but Israel is not helpless.

We are determined to stand against them on every front, in every arena, far and near.

Anyone who murders our citizens, anyone who harms our country will be held accountable.

He will pay a very heavy price.”

Netanyahu’s comments come in the wake of nearly ten months of conflict in Gaza and the recent assassinations of a senior Hezbollah commander in Lebanon and Hamas’ top political leader in Iran.

The heightened hostilities have raised fears of further escalation and retaliation from Iran and its allies.

On his part, Iranian President Masoud Pezeshkian condemned the assassination of Hamas leader Ismail Haniyeh, calling it a violation of international law.

“The assassination of a guest of the Islamic Republic of Iran was an act that violated all international laws,” Pezeshkian said.

“It was a grave mistake by the Zionists.

The audacity will not go unanswered.”

According to media reports, Iranian officials told Arab diplomats that Tehran does not care if an attack on Israel triggers a regional war. But this can also be part of a psychological war both sides have launched.

Israel’s channel 12 said that Israel’s security establishment is considering the possibility of “preventive actions or attacks” it could initiate, “including in Lebanon or perhaps in other places as necessitated.”

Siamak Javadi, an economics professor and researcher at the University of Texas, told Iran International, “Aside from its military aspect, war is a full-scale economic project.

You can’t wage war with an empty pocket.”

Comparing gross domestic product, per capita national income, and inflation and unemployment rates in Iran and Israel, he added that the Islamic Republic is financially and economically incapable of engaging in a full-scale war with Israel.

Hossein Aghaei, a researcher in international relations and strategic affairs, also told Iran International, “The Islamic Republic is caught in the strategic trap or chain reaction game set by Israel.”

He added that the Iranian government finds itself in a “difficult and enigmatic” situation and has no choice but to provide a “direct and proportionate response” to Israel in order to restore its deterrent power.

Aghaei warned that if the Islamic Republic engages in “a high-risk game” and initiates a “comprehensive and multi-front” conflict against Israel, the region could be drawn into a major military confrontation.

Also Read: 15 Civilians Have Now Been Killed in Israeli Strike On Gaza School