Gold was little changed following a three-day rally that took the precious metal to an all-time high above $4,500 an ounce. Platinum tumbled more than 6%, also retreating from an all-time high touched overnight. Some traders are starting to take profits as the year draws to a close after a ferocious run in the precious-metals markets that still leaves gold up almost 70% in 2025. Platinum has more than doubled. Most Read from Bloomberg Technical indicators supported the selling. Gold’s 14-day relative ...

Core Insights - The adjustment of credit card rates is directly tied to changes in the Prime Rate, affecting both new and existing balances without requiring special notice [1][6] - The CARD Act of 2010 has limited the flexibility of credit card issuers in changing rates, making it easier for them to adjust rates by linking them to the Prime Rate [2] - The average credit card interest rate is currently 19.73 percent, a decrease from a record-high of 20.79 percent [5] Group 1: Credit Card Rate Adjustments - Credit card agreements allow for rate adjustments based on the Prime Rate, impacting cardholders' balances without prior notice [1] - The Prime Rate is currently set at 6.75 percent, typically 3 percentage points higher than the federal funds rate [4] - Federal Reserve rate changes generally pass through to customers within one to two months, affecting both new and existing balances [6] Group 2: Credit Card Interest Rates - The average markup for credit card rates is between 12 and 13 percent above the Prime Rate [4] - Credit card interest rates are expressed as APRs, with daily interest accruing on carried balances [11] - A consumer with $5,000 in credit card debt at a 20 percent APR could end up paying approximately $7,723 in interest if only making minimum payments [12] Group 3: Types of Credit Card Interest Rates - Different types of interest rates apply to various transactions, including balance transfers, introductory rates, cash advances, and penalty APRs [14] - The average credit card rate is calculated based on the midpoint of APR ranges from various credit cards, reflecting the creditworthiness of consumers [13]

Stocks stocks closed higher on Wednesday, as the Dow Industrials and S&P 500 registered record closing highs in a broad rally during a holiday-shortened session.The blue-chip Dow rose 288.75 points, or 0.60%, to 48,731.16. The S&P 500 gained 0.3% to end at 6,932.05 points, while the Nasdaq climbed 0.2%.Indexes have been climbing in recent days, buoyed in part by a rebound in AI-related names after last week’s selloff that was triggered by concerns about inflated valuations and high capital expenditures dent ...

Group 1: Market Trends and Predictions - The market is expected to experience volatility, upheaval, innovation, and bold shifts in 2026, drawing parallels to 1966 [3] - The labor market is shifting towards AI skills and automation, contrasting with the industrial labor boom of 1966 [8] - The outlook for oil remains uncertain due to geopolitical factors, with $60 being a significant price pivot [9] Group 2: Industry Developments - Biotech advancements are moving from symptom treatment to true cures, driven by AI and immunology [5] - The banking and finance sectors are transitioning towards digitalization, tokenization, and deregulation, reminiscent of the ATM transformation in 1966 [6] - Commodities such as copper, silver, and uranium are highlighted as having strong potential, with structural shortages in electrification themes [10] Group 3: Economic Insights - There is skepticism regarding headline CPI numbers, with a focus on price, rotation, and intermarket relationships [7] - The concept of universal income is gaining traction among influential leaders, echoing discussions from the late 1960s [8] - Consumer spending is resilient despite weaker job data, similar to trends observed in 1966 [6]

The run-up to the year-end holiday period has come with big gains for precious metals, but one UBS strategist says investor beware. ...

Silver exceeded $72 an ounce on Wednesday, even as platinum surged past $2,350. Palladium shed its gains, while gold hovered near $4,500 an ounce after topping the mark in early trade.The precious metals complex gained further as escalating tensions over Venezuela added to the market worries, apart from fears of further US Fed rate cuts and lack of confidence in the dollar. US President Donald Trump announced that Washington will impose a blockade on sanctioned oil tankers entering and leaving Venezuela. Th ...

Core Insights - The Federal Reserve's analysis details the failure of Silicon Valley Bank (SVB) in March 2023 and its impact on the stablecoin market, highlighting vulnerabilities to confidence shocks and contagion [1][7] - The report emphasizes that stablecoins, like traditional bank deposits, can experience self-reinforcing withdrawals during crises [1] Stablecoin Market Reaction - The collapse of SVB triggered a rapid run on USDC, one of the largest stablecoins, as market participants rushed to redeem their holdings for cash [2][3] - Circle's inability to access uninsured reserves at SVB led to panic, causing USDC to temporarily trade below its dollar peg due to unsustainable sell pressure [3] Contagion Effects - The Federal Reserve's analysis reveals that stress in one stablecoin can propagate to others through interconnected ecosystems, as seen with USDC's depeg affecting Dai [4] - The report notes that liquidity drained from facilities as traders exited USDC positions, further pressuring Dai's peg [5] Financial System Interlinkages - The Fed concludes that stress events in digital asset markets can create feedback loops between traditional finance (TradFi) and decentralized finance (DeFi) sectors [5] - The analysis indicates that a run on a conventional bank can trigger a run on stablecoins, which then impacts DeFi protocols [5] Regulatory Considerations - While the report does not prescribe specific regulatory measures, it calls for further research to understand financial contagion across the DeFi-TradFi boundary as stablecoins integrate into mainstream finance [6]

Financial fraud is a problem in general, although, as a consumer, you may be at risk of greater losses if your debit card or checking account is targeted.Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich) ’The Independent Community Bankers of America has been working with the U.S. Postal Inspection Service to educate customers on check fraud via handouts at different banking locations.Of course, debit card fr ...

As Bitcoin (CRYPTO: BTC) sits around $87,000, down 6.4% in 2025, gold — tracked by the iShares Gold Trust (NYSE:GLD) — has returned over 70% and hit an all-time high above $4,500 this year.Bitcoin Built Infrastructure, Gold Got The CapitalBitcoin achieved milestones that seemed impossible five years ago. Spot ETFs pulled in over $132 billion from BlackRock Inc. (NYSE:BLK) , Grayscale, and Fidelity Investments. Strategy Inc. (NASDAQ:MSTR) accumulated over 200,000 BTC. Corporate treasuries treated Bitcoin as ...

Key Takeaways There's also the question of what will happen with current board member Stephen Miran, whose term ends in January 2026. Miran has consistently advocated for aggressive interest rate cuts during his term on the board. He is serving the remaining term of former Governor Adriana Kugler and could return to his role as chairman of the White House Council of Economic Advisers, which he left to take the short-term appointment as a Fed governor. Significant changes are anticipated for the Federal Rese ...