Gold Makes It to a New High as Mideast Tensions Heat up Again

Israeli and U.S. air strikes boost gold and crude oil

Highlights

• Israeli and U.S. air strikes boost gold and crude oil

• The OECD downgrades U.S. and global growth estimates…

• … while state unemployment data is another recession indicator

• Any equity downturn would hit baby boomers the hardest

Key Takeaways

• The OECD Downgrades 2025 Growth Estimates Around the World: There were no major data releases overnight, but the OECD laid down the gauntlet with a slice to its world economic forecast. U.S. real GDP growth was trimmed for this year to +2.2% from +2.4% and to +1.6% for 2026 from +2.1%. Canada to +0.7% for both years from +2.0%. Mexico is now seen coming in at a contraction of -1.3% in 2025 (from +1.2%) and to -0.6% for 2026 from +1.6%. The global real growth view was trimmed to +3.1% for 2025 and to +3.0% from +3.3% for both years before the adjustments were made (helping out was a small upward revision to China to +4.8% for 2025 from +4.7% prior).