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The gold price soared to new record highs during the second quarter of 2025, the most recent coming when it climbed to C$4,663.85, or US$3,433.47, on June 13.

Several factors fueled gold price momentum toward the end of the second quarter, including an escalation in Middle East tensions as Israel and Iran entered into direct conflict. Although a cease fire was announced, it came after the United States dropped several 30,000 pound bombs on key Iranian nuclear sites.

Additional support for gold has come from continued uncertainty in global financial markets as the US’s tariff strategy continues.

Since the beginning of the year, investors have sought the relative safety of gold and gold-backed investment products, which have pushed the price up more than 25 percent.

Against that backdrop, which TSX-listed gold stocks have performed the best? The companies listed below have been the top performers this year. Data was retrieved on July 2, 2025, using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million are included.

1. Belo Sun (TSX:BSX)

Year-to-date gain: 276.47 percent
Market cap: C$144.68 million
Share price: C$0.32

Belo Sun Mining is an exploration and development company focused on advancing its Volta Grande gold project in Brazil.

The property covers approximately 2,400 hectares within the Tres Palmeiras greenstone belt in Pará State, Brazil. The company has been working on the project since 2003, and acquired necessary development permits in 2014 and 2017.

A 2015 mineral reserve estimate demonstrated a proven and probable reserve of 3.79 million ounces of gold from 116 million metric tons of ore with an average gold grade of 1.02 per metric ton (g/t).

Development at the site stalled in 2018 after a federal judge ruled that the Federal Brazilian Institute of the Environment (IBAMA) would be the competent authority for issuing environmental permits. The decision was overturned in 2019, with the Secretariat of Environment and Sustainability of the State of Pará (SEMAS) reassuming its permitting authority. The decision was once again reversed in September 2023, returning authority to IBAMA.

On January 23, Belo Sun announced that the Federal Court of Appeals had reassigned SEMAS as the permitting authority for the Volta Grande project. The company said it was pleased with the decision, as the agency is familiar with the project and enjoys a constructive and transparent relationship with it.

The most recent news came on June 23, when the company announced that shareholders had approved a renewal of the company’s governance structure and elected four new directors to the board. Four of the board’s six members are now either Brazilian or have spent significant parts of their careers working in Brazil.

Shares in Belo Sun reached a year-to-date high of C$0.35 on June 16.

2. Euro Sun Mining (TSX:ESM)

Year-to-date gain: 200 percent
Market cap: C$53.71 million
Share price: C$0.135

Euro Sun Mining is a development-stage company advancing its Rovina Valley copper-gold project in Romania. The project’s mining license received full approval for 20 years in 2018, with the option to renew it in five year increments.

An updated feasibility study from March 2022 demonstrated the project’s economics, showing a post-tax net present value of US$512 million and an internal rate of return of 20.5 percent, assuming a base case gold price of US$1,675 per ounce and a copper price of US$3.75 per pound.

Proven and probable mineral reserve estimates for the site include 1.84 million ounces of gold and 197,522 metric tons of copper from 123.3 million metric tons of ore with an average grade of 0.47 g/t gold and 0.16 percent copper.

Shares in Euro Sun saw their most significant gains around the same time as a March 25 announcement that the EU included Rovina Valley on its first list of strategic assets. The inclusion, which Euro Sun applied for in May 2024, will enable the company to expedite permitting at Rovina Valley and shorten the development timeline.

On May 7, Euro Sun reported it met with Romania’s Minister of the Environment to discuss the advancement of the project. Both parties agreed that a single point of contact was needed to ensure compliance and fulfill requirements under the CRMA framework. The company plans to submit an updated environmental act in the near future.

On June 20, Euro Sun reported it signed a copper concentrates prepayment facility for up to US$200 million with private metals trader Trafigura, with the funding going towards the necessary permitting and investment to advance Rovina over the next 18 months.

Shares in Euro Sun reached a year-to-date high of C$0.145 on June 2.

3. Collective Mining (TSX:CNL)

Year-to-date gain: 165.05 percent
Market cap: C$1.26 billion
Share price: C$15.85

Collective Mining is a gold, copper and silver exploration company with focused interests in Caldas, Colombia.

Its two projects, Guayabales and San Antonio, consolidate large portions of a mineral belt that surrounds Aris Mining’s (TSX:ARIS,NYSE:ARMN)Marmato mine and within a region with 10 operating mines.

The Guayabales project comprises 26 claims spanning a total area of 4,780.98 hectares. Collective Mining has conducted extensive exploration at the property in 2025, with a primary focus on expanding the Apollo zone. The company also drilled multiple look-alike targets.

The most recent exploration report was released on June 30, when the company announced the discovery of a new high-grade vein system, with a highlighted assay of 534 g/t gold over 0.67 meters. However, the company stated that drilling was retargeted after results from a gravimetric survey indicated that the drill hole was outside the mineralized breccia body.

On June 23, Collective accelerated its agreement to acquire a 100 percent stake in the Guayabales property. Under the original agreement, Collective had until 2032 to make the required payments and incur the necessary exploration expenditures.

The company reported that the financial considerations remained the same under the amended agreement, but C$2 million would be paid immediately, with an additional C$2 million paid within one month of the title transfer request being filed and C$2.3 million after two months. The remaining C$3.5 million will now be paid out in six equal installments over a three-year period from the date of the amended agreement.

Shares in Collective Mining reached a year-to-date high of C$15.85 on July 2.

4. Starcore International (TSX:SAM)

Year-to-date gain: 150 percent
Market cap: C$19.06 million
Share price: C$0.325

Starcore International is a gold exploration and mining company with assets in Mexico, Canada and Côte d’Ivoire. Its primary asset is the San Martin mine in Queretaro, Mexico.

In the company’s fourth-quarter production results, released on May 13, it reported reaching a significant commissioning milestone in the new processing circuit and milling 5,000 metric tons of stockpiled ore.

The mine produced 3,242 gold-equivalent ounces during the quarter, up 3 percent from 2,268 ounces during the previous quarter. The company added that it was continuing to explore and develop a new area in the southern section of the mine.

Outside its Mexican operations, the main focus throughout 2025 has been its Kimoukro gold project in Côte d’Ivoire.

On April 9, Starcore reported results from 2024 exploration work at the project and an update on its activities at the project. In 2024, the company completed 55 line kilometers of induced polarization geophysical and ground magnetic surveying, along with a 355 hole, 2,988 meter auger drilling campaign.

Based on the results from the drilling, which aimed to confirm an identified gold anomaly in the topsoil, the anomaly is about 2.5 kilometers long and 500 to 800 meters wide, with an average grade of more than 20 parts per billion gold.

In the update, Starcore reported it established a field office during Q1 2025 and is completing a soil sampling program covering 5.5 square kilometers and 1,300 samples up to a depth of 1 meter.

Shares in Starcore reached a year-to-date high of C$0.325 on June 4.

5. Troilus Gold (TSX:TLG)

Year-to-date gain: 139.9 percent
Market cap: C$272.7 million
Share price: C$0.69

Troilus Gold is advancing its namesake property in Northern Québec, Canada.

The project is situated within the region covered by Plan Nord, a 25 year, C$80 billion development initiative focused on mining launched by the Government of Québec.

A May 2024 feasibility study revealed financials with a post-tax net present value of US$884.5 million, an internal rate of return of 14 percent and a payback period of 5.7 years based on a gold price of US$1,975 per ounce.

The included mineral resource estimate reports a probable mineral reserve of 6.02 million ounces of gold from 380 million metric tons of ore at an average grade of 0.49 g/t gold. It also hosts probable copper and silver reserves of 484 million pounds and 12.15 million ounces respectively.

Troilus has spent much of 2025 raising funds for the project’s development. The most significant came on March 13, when the company announced that it executed a mandate letter for a non-binding term sheet for a debt financing package of up to US$700 million.

The company noted that it had followed up on four letters of intent, resulting in a total potential funding of up to US$1.3 billion.

More recently, Troilus announced on June 18 that it had entered into an offtake agreement for gold-copper concentrate with German smelting company Aurubis (OTC Pink:AIAGF,XETRA:NDA).

The agreement is being executed in connection with the previously announced letter of intent for US$700 million in funding. According to Troilus, this includes a loan guarantee of up to US$500 million from a firm representing the German Federal Ministry of Economic Affairs and Climate Action.

Shares in Troilus reached a year-to-date high of C$0.73 on June 17.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Major miner Barrick Mining (TSX:ABX,NYSE:B) is reportedly in advanced talks to sell its last remaining Canadian mine, Hemlo, to Discovery Silver (TSX:DSV,OTCQX:DSVSF).

Citing people familiar with the matter, Bloomberg reported on Tuesday (July 15) that the discussions, which began in April, have reached the final stages, although a deal has not yet been finalized.

If completed, the sale of the Ontario-based asset would mark Barrick’s full exit from gold mining in its home country, continuing a broader strategy of offloading smaller, less profitable assets as gold re-enters the spotlight.

Gold has climbed to record highs this year, reaching the US$3,500 per ounce level as geopolitical shocks — including US President Donald Trump’s tariff campaign and ongoing global conflicts — have driven investors toward safe havens.

That rally has reignited consolidation in the mining sector, with large producers like Barrick and Newmont (TSX:NGT,NYSE:NEM) streamlining their portfolios and junior miners seeking to grow.

Discovery Silver has emerged as an active buyer during this time.

In January, the company acquired Newmont’s Porcupine gold mine in Ontario for up to US$425 million. Buying Hemlo would deepen its footprint in Canada at a time when investor interest in North American assets is rising.

Mali seizes more gold from Barrick

For Barrick, the possible sale comes as the company faces legal and political headwinds in Mali, where its Loulo-Gounkoto complex has been embroiled in a bitter standoff with the ruling military junta.

On July 10, helicopters operated by Mali’s military landed unannounced at the Loulo-Gounkoto site and removed over a metric ton of gold — worth over US$117 million at current prices — without Barrick’s consent. The gold was likely taken for sale by the government-appointed provisional administrator that now oversees the site, the company said.

This is the second such seizure this year, following a January incident in which 3 metric tons of gold were taken and all exports were blocked, forcing Barrick to suspend operations.

Barrick has since launched international arbitration proceedings at the International Center for Settlement of Investment Disputes (ICSID), citing “violations of its legal rights.”

“I want to reaffirm Barrick’s commitment to Mali, even as we navigate extraordinary and unprecedented challenges,” CEO Mark Bristow said on July 12. “While we continue to engage constructively with the government of Mali, the ICSID process provides the legal certainty and international oversight necessary to resolve this dispute definitively.”

Barrick maintains that the provisional administration of the mine, which came after a controversial local court order in June, is unlawful. The firm also says it was never formally notified of the administrator’s appointment and was merely told that Samba Touré, a former Barrick employee and advisor to the mining ministry, would act as a liaison.

The government’s moves coincide with President Assimi Goïta’s latest political maneuver — a new law granting him an indefinite mandate “until the country is pacified.” Goïta seized power in a 2021 coup, his second in less than a year, and has since tightened control over the judiciary and state institutions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Apple (NASDAQ:AAPL) and MP Materials (NYSE:MP) have signed a US$500 million supply agreement to manufacture rare earth magnets in the US from 100 percent recycled materials.

Under the deal, MP will deliver recycled magnets starting in 2027 to support “hundreds of millions” of Apple devices, including iPhones, iPads and MacBooks. Announced on Tuesday (July 15), the deal marks a major step forward in Apple’s plan to build more sustainable domestic supply chains for its core technologies.

“American innovation drives everything we do at Apple, and we’re proud to deepen our investment in the US economy,” Apple CEO Tim Cook said in a press release. “Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States.”

The two companies spent nearly five years developing recycling technologies capable of meeting Apple’s stringent performance and environmental standards. Now, MP will build a commercial-scale recycling line at its Mountain Pass site to process magnet scrap and recovered components from decommissioned products.

To fulfill Apple’s requirements, MP will also expand its Fort Worth, Texas, facility — dubbed “Independence” — creating dozens of new roles in manufacturing, as well as research and development.

“We are proud to partner with Apple to launch MP’s recycling platform and scale up our magnetics business,” said MP CEO James Litinsky in a separate Tuesday press release. “This collaboration deepens our vertical integration, strengthens supply chain resilience, and reinforces America’s industrial capacity at a pivotal moment.”

MP’s share price soared 20 percent following the news, pushing its market cap to near US$10 billion.

Analysts view the deal as a validation of MP’s strategy to build a fully domestic rare earth magnet supply chain and as a boost to national efforts to reduce reliance on China, which controls roughly 70 percent of global rare earths supply.

MP currently operates the only active US rare earths mine at Mountain Pass. Rare earth magnets produced from its materials power devices ranging from consumer electronics and electric vehicles to wind turbines and defense systems.

MP teams up with defense department

Just days before the Apple deal, MP secured a US$400 million preferred equity investment from the US Department of Defense (DoD), making the Pentagon its largest shareholder.

The funds will support a second magnet manufacturing plant — called the 10X facility — which is slated for commissioning in 2028 and will increase MP’s annual magnet output to 10,000 metric tons.

The government has also committed to purchasing 100 percent of the magnets produced at the new plant for 10 years, guaranteeing a floor price of US$110 per kilogram for neodymium-praseodymium oxide.

If market prices fall below that level, the DoD will pay the difference. Once production begins, the government will also receive 30 percent of any profits above the guaranteed price.

With operations spanning mining, separation, metallization and magnet production, MP is currently the only US firm with end-to-end capabilities for rare earth magnet manufacturing. The company is also expecting a US$150 million Pentagon loan to enhance its heavy rare earths separation capabilities at Mountain Pass.

MP’s Independence facility in Texas, alongside the upcoming 10X plant, anchors its downstream production strategy. The recycled feedstock used for Apple’s magnets will be sourced from post-industrial waste and retired electronics — reducing environmental impact while reinforcing resource resilience.

Apple, for its part, is pressing ahead with its US$500 billion US manufacturing initiative.

Earlier this year, it announced plans for a new artificial intelligence server factory in Texas and signaled continued interest in reshoring key parts of its production ecosystem.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Silver took some luster from gold in Q2 as its price climbed to 14 year highs.

Many of the same contributors that affected the gold price were also in play for silver.

Uncertainty in financial markets, driven by a chaotic US trade and tariff policy, coincided with rising tensions in the Middle East and continued fighting between Russia and Ukraine, prompting investors to seek safe-haven assets.

Unlike gold, however, silver also saw gains as industrial demand strained overall supply.

What happened to the silver price in Q2?

The quarter opened with the price of silver sinking from US$33.77 per ounce on April 2 to US$29.57 on April 4. However, the metal quickly found momentum and climbed back above the US$30 mark on April 9.

Silver continued upward through much of April, peaking at US$33.63 on April 23.

Volatility was the story through the end of April and into May, with silver fluctuating between a low of US$32.05 on May 2 and a high of US$33.46 on May 23.

Silver price, April 1 to July 17, 2025.

Chart via Trading Economics.

At the start of June, the price of silver soared to 14 year highs, opening the month at US$32.99 and rising to US$36.76 by June 9. Ultimately, the metal reached a year-to-date high of US$37.12 on June 17. Although the price has eased slightly from its high, it has remained in the US$36 to US$37 range to the end of the quarter and into July.

Silver supply/demand balance still tight

Various factors impacted silver in the second quarter of the year, but industrial demand was a primary driver in both upward and downward movements. Over the past several years, silver has been increasingly utilized in industrial sectors, particularly in the production of photovoltaics. In fact, according to the Silver Institute’s latest World Silver Survey, released on April 16, demand for the metal reached a record 680.5 million ounces in 2024.

Artificial intelligence, vehicle electrification and grid infrastructure all contributed to demand growth

At the same time, mine supply has failed to keep up, with the institute reporting a 148.9 million ounce production shortfall. This marked the fourth consecutive year of structural deficit in the silver market.

“(We have) flat supply, growing demand — demand that’s nearly 20 percent above supply,’ he said. ‘And our ability to meet those deficits is shrinking because we’re tapping into these aboveground stockpiles that have shrunk by about 800 million ounces in the last four years, which is equivalent to an entire year’s mine supply. So it’s the perfect storm.’

But industrial demand can send the silver price in either direction.

The chaos caused by Trump’s on-again, off-again tariffs has caused some consternation among investors.

While gold and silver have traditionally both been viewed as safe-haven assets, silver’s increasing industrial demand has decoupled it slightly from that aspect. When Trump announced his ‘Liberation Day’ tariffs on April 2, silver was impacted due to fears that a recession could cause demand for the metal to slip.

Although the dip in silver was short-lived, it was one of its steepest falls in recent years.

“If a global recession really starts, silver will most likely nosedive momentarily. In terms of its 2025 performance, silver growth has been largely bolstered by consolidated precious metals group appreciation, additionally beefed up by relative USD weakness.’

Geopolitics and the silver price

Adding to the tailwinds is a growing east-west divide. Due to its usage in industrial components, particularly those related to the military and energy sectors, and its role as a safe haven, silver is being influenced by geopolitics.

June’s price rally came alongside growing speculation that Israel was preparing to attack Iranian nuclear sites. Investors became concerned that war could disrupt international trade and oil movements in the region.

Ultimately, their concerns were proven right, and Israel launched attacks on June 12; the US then bombed key nuclear facilities on June 21. While the escalation is new, the underlying politics have been simmering for years.

Sanctions against Russia have strengthened support among the BRICS nations, which have been working to reduce their reliance on US dollar assets, such as treasuries, and increase trade in their own currencies.

But they may also be working to separate themselves from western commodities markets. In October 2024, Russia floated the idea of creating a precious metals exchange to its BRICS counterparts. If established, it could shake up pricing for commodities like silver, allowing Russia to circumvent sanctions and trade with its bloc partners.

While the exchange is still just an idea, a bifurcated world is not. While the US has targeted most nations with tariffs, it has singled out China. Much of the first half of the year saw the world’s two largest economies escalate import fees with one another, with China even restricting the export of rare earth elements to the US.

Discussions on national security and critical minerals have been at the forefront for the last several years. Still, they have become even more pronounced with the US and China on tense footing.

“Even if that’s going to happen, industrial use value — building infrastructure, building national security, national energy priorities — needs a lot of silver, and there just simply isn’t enough supply out of the ground to meet the demand. That’s long-term demand above the ground. This has been a thing, but right now, because of these geopolitical forces and realignments, silver is going to drop more into that industrial role,” she said.

Silver price forecast for 2025

Overall, the expectation is that without new mine supply and dwindling aboveground stockpiles, silver is likely to remain in deficit for some time. Other factors, like Trump tariffs and geopolitics, aren’t likely to disappear either.

Demand could ease off if a global recession were to materialize, but safe-haven investing could offset declines.

For his part, Krauth thinks the silver price is likely to remain above the US$35 mark, but it could fluctuate and he suggested a rally in the US dollar could push the silver price down. However, he also sees some pressure easing on the recession side of the equation if the US signs tariff deals that would eliminate some uncertainty.

“US$40, let’s say by the end of this year,’ he said, adding, ‘Frankly, I could see something really realistically above that, maybe an additional 10 percent if the scenario plays out right.’

He doesn’t think that’s the end. In the longer term, Krauth sees silver going even higher. He pointed to the current gold-silver ratio, which is around 92:1, compared to an average of 60:1 over the last 50 years.

“So we could go to, who knows, somewhere like maybe 40 or 30 to one in the ratio. That would be tremendous for silver — that could bring silver above US$100. I’m not saying that’s happening tomorrow, but in the next couple of years I would say that’s certainly something that could easily be in the cards,” Krauth said.

Fundamentals and geopolitics aligned for silver in the first half of 2025, and barring a recession, they are likely to provide tailwinds in the second half. Whether the price climbs or continues to find support at US$35 is yet to be seen.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Consumer prices rose in June as President Donald Trump’s tariffs began to slowly work their way through the U.S. economy.

The consumer price index, a broad-based measure of goods and services costs, increased 0.3% on the month, putting the 12-month inflation rate at 2.7%, the Bureau of Labor Statistics reported Tuesday. The numbers were right in line with the Dow Jones consensus, though the annual rate is the highest since February.

Excluding volatile food and energy prices, core inflation picked up 0.2% on the month, with the annual rate moving to 2.9%, with the annual rate in line with estimates. The monthly level was slightly below the outlook for a 0.3% gain.

A worker prices produce at a grocery store in San Francisco, California, US, on Friday, June 7, 2024.David Paul Morris / Bloomberg via Getty Images

Prior to June, inflation had been on a generally downward slope for the year, with headline CPI at a 3% annual rate back in January and progressing gradually slower in the subsequent months despite fears that Trump’s trade war would drive prices higher.

While the evidence in June was mixed on how much influence tariffs had over prices, there were signs that the duties are having an impact.

Vehicle prices fell on the month, with prices on new vehicles down 0.3% and used car and trucks tumbling 0.7%. However, tariff-sensitive apparel prices increased 0.4%. Household furnishings, which also are influenced by tariffs, increased 1% for the month.

Shelter prices increased just 0.2% for the month, but the BLS said the category was still the largest contributor to the overall CPI gain. The index rose 3.8% from a year ago. Within the category, a measurement of what homeowners feel they could receive if they rented their properties increased 0.3%. However, lodging away from home slipped 2.9%.

Elsewhere, food prices increased 0.3% for the month, putting the annual gain at 3%, while energy prices reversed a loss in May and rose 0.9%, though they are still down marginally from a year ago. Medical care services were up 0.6% while transportation services edged higher by 0.2%.

With the rise in prices, inflation-adjusted hourly earnings fell 0.1% in June, the BLS said in a separate release. Real earnings increased 1% on an annual basis.

Markets largely took the inflation report in stride. Stock market indexes were mixed while Treasury yields were mostly negative.

Amid the previously muted inflation ratings, Trump has been urging the Federal Reserve to lower interest rates, which it has not done since December. The president has insisted that tariffs are not aggravating inflation, and has contended that the Fed’s refusal to ease is raising the costs the U.S. has to pay on its burgeoning debt and deficit problem.

Central bankers, led by Chair Jerome Powell, have refused to budge. They insist that the U.S. economy is in a strong enough position now that the Fed can afford to wait to see the impact tariffs will have on inflation. Trump in turn has called on Powell to resign and is certain to name someone else to the job when the chair’s term expires in May 2026.

Markets expect the Fed to stay on hold when it meets at the end of July and then cut by a quarter percentage point in September.

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Israel is calling out international organizations and the United Nations for allegedly leaving pallets of aid uncollected while decrying the humanitarian crisis in Gaza.

‘Right now, there are thousands of pallets of humanitarian aid already inside Gaza, waiting to be picked up and distributed from the crossings by U.N. agencies and international organizations. Instead of publishing statements about ‘Gaza needing more aid’ or ‘trucks waiting to enter,’ aid can be collected and distributed to the civilian population,’ the Coordination of Government Activities in the Territories (COGAT), an Israeli government agency, wrote on X.

In response to a Fox News Digital request for comment on COGAT’s statement, U.N. Office for the Coordination of Humanitarian Affairs (OCHA) Spokesperson Eri Kaneko said the ‘restrictive operational environment’ in Gaza has been making it more difficult to deliver humanitarian services. 

‘Throughout this war, we have been clear that without meaningful safety, security or unimpeded access, large-scale humanitarian operations are impossible,’ Kaneko told Fox News Digital. ‘Planned UN missions to deliver aid and services continue to face significant access challenges, with many either denied outright or obstructed due to unpredictable and lengthy coordination procedures.’

Meanwhile, the GHF joined Israel in its criticisms of the U.N.’s handling of aid to Gaza.

‘No one is limiting the U.N.’s ability to deliver aid—certainly not GHF. In fact, GHF successfully pushed for the U.N.’s reauthorization to operate after Israel reopened access to Gaza,’ a GHF spokesperson told Fox News Digital. ‘The real problem is not access. It’s execution. The U.N. currently has thousands of pallets of aid inside Gaza awaiting distribution because their trucks are consistently looted, hijacked, or overrun by Hamas, armed gangs, or desperate civilians. This is why over 400 U.N. distribution sites sit empty.’

COGAT’s Tuesday statement comes shortly after U.N. Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher pushed a statement co-signed by his office declaring that ‘the fuel shortage in Gaza has reached critical levels.’

‘For the first time in 130 days, a small amount of fuel entered Gaza this week. This is a welcome development, but it is a small fraction of what is needed each day to keep daily life and critical aid operations running,’ the statement signed by several U.N. agencies read.

In response, COGAT slammed Fletcher, saying that he was either unaware of the work his staff has done on the ground or was ‘spreading lies.’

‘Fuel has been entering Gaza for over a week now for essential humanitarian needs, with your coordination. So, either get updated or stop spreading lies,’ COGAT wrote.

The U.S.- and Israel-backed Gaza Humanitarian Foundation (GHF) has faced harsh criticism from the international community, even as the organization has surpassed 76 million meals distributed in the Strip. 

‘Each delivery reflects the bravery and dedication of our aid workers, who are operating in some of the world’s toughest humanitarian conditions,’ GHF Interim Executive Director John Acree said in a statement on X.

COGAT did not respond to a Fox News Digital request for comment in time for publication.

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President Donald Trump launched a blistering attack on Sen. Adam Schiff, D-Calif., Tuesday morning, amplifying 2024 claims that Schiff committed mortgage fraud by lying about his primary residence for over a decade, which the senator denies.

Trump, in a Truth Social post, labeled Schiff a ‘scam artist’ and claimed he obtained a mortgage for a residence in Maryland in 2009 but only designated it as a second home in 2020 as part of a ruse to snag better rates and terms from the company, which has been in federal conservatorship since the 2008 financial crisis.

The president said Fannie Mae’s Financial Crimes Division had uncovered the alleged fraud. Schiff obtained the Maryland property in 2009 while he was a congressman and became a senator in January. Schiff called the accusations ‘baseless.’

‘I have always suspected Shifty Adam Schiff was a scam artist. And now I learn that Fannie Mae’s Financial Crimes Division have concluded that Adam Schiff has engaged in a sustained pattern of possible Mortgage Fraud,’ Trump wrote.

‘Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA. I always knew Adam Schiff was a Crook. The FRAUD began with the refinance of his Maryland property on February 6, 2009, and continued through multiple transactions until the Maryland property was correctly designated as a second home on October 13, 2020.’

‘Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice.’

Trump did not provide any evidence of the alleged fraud. 

When asked about the accusations later on Tuesday, Trump appeared to soften on the specific accusation. 

‘I don’t know about the individual charge, if that even happened, but Adam Schiff is a serious lowlife,’ Trump said.

‘When you said that you want Adam Schiff brought to justice, what does that mean?’ Fox News’ Peter Doocy asked, to which Trump said: ‘I’d love to see him brought to justice.’

Schiff was not barred from listing the Maryland home as his primary residence during his term in Congress, since the Constitution only requires that he be an ‘inhabitant’ of California at the time of his election, not throughout his entire service.

However, Schiff cited two residences, one in California and one in Maryland, as his ‘principal residence’ on multiple mortgage and election forms dating back to 2003, Just the News reported in October. 

In at least three cases — in 2009, 2011 and 2013 — Schiff refinanced his Maryland home and declared it his ‘principal residence,’ while also listing his Burbank, California condo as his primary residence in separate financing documents, the outlet reported. He then changed the notations on his Maryland mortgage to be a secondary residence.

The pattern was first detected by Christine Bish, a Sacramento-based real estate investigator who ran for Congress as a Republican last year. She filed an ethics complaint against Schiff in Congress.

Schiff said Trump’s comments were the latest attempt at political retaliation against his perceived enemies and said it would not distract from ‘his Epstein files problem.’

‘Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason,’ Schiff wrote on X. ‘So in a way, I guess this is a bit of a letdown. And this baseless attempt at political retribution won’t stop me from holding him accountable. Not by a long shot.’

A spokesperson for Schiff said that the accusations have been debunked.

‘The lenders who provided the mortgages for both homes were well aware of then-Representative Schiff’s Congressional service and of his intended year-round use of both homes, neither of which were vacation homes,’ the spokesperson told Fox News Digital. ‘He has always been completely transparent about this.’

The spokesperson did not say whether the Maryland home was designated as a primary residence. Fannie Mae said it would not be commenting on the claims. 

Trump and Schiff have clashed many times since Trump first became president. 

As ranking member and later chairman of the House Intelligence Committee, Schiff became the public face of the congressional probe into the now-debunked theory that Trump colluded with Russia to win the 2016 election. Schiff repeatedly suggested there was ‘ample evidence’ of collusion, even when the Mueller report later stated it did not establish a criminal conspiracy. Trump and his Republican allies repeatedly accused Schiff of leaking classified information during the investigation.

Schiff also served as the lead House impeachment manager during Trump’s first impeachment trial, stemming from the president’s phone call with Ukrainian President Volodymyr Zelenskyy while Schiff was also a member of the House Select Committee on Jan. 6, which investigated Trump’s role in the attack on the Capitol. Schiff voted to impeach Trump both times. 

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House Oversight Committee Chairman James Comer, R-Ky., issued a subpoena to have former President Joe Biden’s deputy chief of staff appear before the committee on Friday to provide testimony regarding her former boss’s mental state while serving in the Oval Office.

Comer, who leads the House Committee on Oversight and Government Reform, sent interview requests to four key Biden White House aides, including former assistant to the President and Deputy Chief of Staff Annie Tomasini.

The former assistant’s voluntary appearance was requested on May 22, 2025, and it was scheduled for her to appear before the committee on July 18, or this Friday.

For unknown reasons, though, Tomasini’s counsel requested Comer issue a subpoena to compel her to appear.

Comer broke down the events leading up to the subpoena in his letter to Tomasini, before directing her to the bottom of the letter for the legal request.

‘The Committee seeks information about your assessment of and relationship with former President Biden to explore whether the time has come for Congress to revisit potential legislation to address the oversight of presidents’ fitness to serve pursuant to its authority under Section 4 of the Twenty-Fifth Amendment, or to propose changes to the Twenty-Fifth Amendment itself,’ Comer wrote in the subpoena.

‘The Committee on Oversight and Government Reform is the principal oversight committee of the U.S. House of Representatives and has broad authority to investigate ‘any matter’ at ‘any time’ under House Rule X,’ he continued. ‘Further, House Rule XI clause 2(m)(1)(B) grants Committees of the House of Representatives the authority ‘to require, by subpoena or otherwise, the attendance and testimony of such witnesses and the production of such books, records, correspondence, memoranda, papers, and documents as it considers necessary.’’

Comer added that should Tomasini have any questions, she should call the Committee on Oversight and Government Reform Majority staff.

The chair previously told Fox News that these ‘unelected bureaucrats’ had an overwhelming influence over Biden and were possibly serving as ‘de facto’ presidents in his stead.’

Along with Tomasini, the committee sent interview requests to former director of the Domestic Policy Council Neera Tanden, former senior adviser to the first lady Anthony Bernal and former deputy director of Oval Office operations Ashley Williams.

Bernal was also subpoenaed after refusing to voluntarily appear before the committee.

Williams and Tanden have already been interviewed by committee members.

The GOP effort to uncover the truth of what went on behind closed doors during the Biden administration comes shortly after the release of ‘Original Sin’ by CNN host Jake Tapper and Axios reporter Alex Thompson, which claims that the Biden White House was going all out trying to control the perception of the aging president’s failing health. The book exposes the cover-up of Biden’s decline and his decision to run for re-election.

Tapper said during an interview with Piers Morgan last month that what Biden’s aides did to hide his condition from the public could be ‘even worse’ than the Watergate scandal during Richard Nixon’s presidency. 

‘It is a scandal. It is without question, and maybe even worse than Watergate in some ways,’ Tapper said. ‘The only reason we invoke Watergate is just to make clear like, it’s not Watergate — this is an entirely separate scandal, maybe even worse.’

In his letters, Comer said that while the committee has been investigating the cover-up for nearly a year, ‘newfound details regarding President Biden’s obvious decline demand renewed scrutiny of White House personnel actions and knowledge of relevant information over the course of the prior administration.’

Comer said the committee is seeking ‘to understand who made key decisions and exercised the powers of the executive branch during the Biden Administration.’

Fox News Digital’s Peter Pinedo contributed to this report.

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Democrats on the House Judiciary Committee are seizing on Republican fractures over the Jeffrey Epstein case, demanding a public hearing on the issue.

A letter from Democrats states, ‘To that end, we request that the Committee invite — and, if necessary, subpoena — Attorney General Pam Bondi, Deputy Attorney General Todd Blanche, Federal Bureau of Investigation (FBI) Director Kash Patel, and Deputy FBI Director Dan Bongino to testify publicly about the Trump Administration’s review of the Epstein matter, including the conclusions set forth in the undated and unsigned Department of Justice (DOJ) and FBI memo providing that ‘no further disclosure would be appropriate or warranted.”

They made the request to House Judiciary Chair Jim Jordan, R-Ohio, a close ally of President Donald Trump’s.

The letter, led by Jamie Raskin, D-Md., and Jerry Nadler, D-N.Y., is also signed by progressives like Pramila Jayapal, D-Wash., and Jasmine Crockett, D-Texas.

The memo they referenced, first reported earlier this week, said the late pedophile died by suicide. It also said there is no list of clients whom Epstein may have procured for exploitation by third parties. 

It’s ignited a firestorm within the GOP, with far-right figures going after the attorney general for what they see as backpedaling on her promise to deliver full transparency on the Epstein files.

Democrats, meanwhile, have appeared to put their concerns about fanning the flames of what the left has long seen as a conspiracy theory aside to use the Epstein case as a political cudgel to further divide Republicans.

Deputy FBI Director Dan Bongino reportedly considered quitting his federal role over how the Epstein case was handled.

Trump has been among Bondi’s most ardent defenders in the fallout and has publicly urged his base to move on from the discord.

The letter Tuesday from Democrats pointed out that Trump, Bongino and FBI Director Kash Patel all made public statements regarding Epstein before taking power.

‘President Trump and his top appointees at the DOJ and FBI have spent years advancing theories that ‘the Deep State’ has been suppressing the true magnitude of the child sex trafficking and abuse ring created by Jeffrey Epstein and his associates,’ the Democrats said. 

‘These claims have sunk deep into the public consciousness, due in no small part to President Trump, Mr. Patel, Mr. Bongino, and others’ continued authoritative hyping of ‘Epstein files’ conspiracy theories to energize President Trump’s supporters.’

They warned ‘the public will turn to conspiracy theories to fill the void of credible information’ if ‘facts and evidence’ were not made clear.

‘The Trump DOJ and FBI’s handling of the Jeffrey Epstein matter, and President Trump’s suddenly shifting positions, have not restored anyone’s trust in the government but have rather raised profound new questions about their own conduct while increasing public paranoia related to the investigation,’ the letter said.

‘We must submit to public scrutiny President Trump’s and MAGA’s longstanding claims about the ‘Epstein files,’ new questions as to whether President Trump himself has something to hide, whether he is keeping damaging information secret to protect other individuals or to maintain future blackmail leverage over public and private actors or, perhaps the simplest explanation, whether President Trump and his Administration magnified and disseminated groundless Epstein conspiracy theories for purposes of political gain which they are now desperately trying to disavow and dispel.’

Trump has denied any allegations of impropriety related to Epstein.

Fox News Digital reached out to Jordan’s office for comment but did not immediately hear back.

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Senate Republicans agreed to make changes to President Donald Trump’s multi-billion-dollar clawback package to help win over holdouts, but by shrinking the overall size of the cuts in the process.

Lawmakers left a meeting with Office of Management and Budget Director Russ Vought on Tuesday afternoon and announced that about $400 million in proposed cuts to a global AIDS and HIV prevention program would be stripped from the legislation, dropping the total clawbacks in the president’s rescission package to $9 billion.

The original proposed slashes to the Bush-era President’s Emergency Plan for AIDS Relief (PEPFAR) rattled some Senate Republicans, who warned publicly and privately that they would not support the package if the cuts remained.

But lawmakers agreed to carve out the spending cuts with an amendment, and Senate leadership is hopeful that the change will corral enough holdouts to support the bill during a test vote later Tuesday.

Senate Majority Leader John Thune, R-S.D., can only afford to lose three Republicans during the partisan process.

Thune said after the meeting that there was ‘a lot of interest among our members’ in seeing the PEPFAR cuts removed, and expressed hope that if lawmakers in the upper chamber could advance the bill, then House Republicans would be open to the modification.

The top Senate Republican is eyeing the first test vote on the bill later on Tuesday evening, with another vote to kick off 10 hours of debate shortly after.

The changes to PEPFAR also come after Sen. Mike Rounds, R-S.D., got guarantees that roughly $10 million would go toward rural radio stations on reservations, which was his primary concern, with cuts now redirected toward the Corporation for Public Broadcasting (CPB), the government-backed funding arm for NPR and PBS.

However, whether the changes are enough to sway key holdouts, like Sens. Susan Collins, R-Maine, and Lisa Murkowski, R-Alaska, remains to be seen.

A senior administration official pushed back against the narrative surrounding the proposed PEPFAR cuts and beyond, telling Fox News Digital that slashes already made to international aid were geared toward limited program cuts targeted at ‘LGBTQ education and capacity building — not core life-saving care.’

‘We’re already working with countries and other partners to ensure that they shoulder a greater share of the burden where they can,’ the official said. ‘We continue to make targeted investments in mother-to-child prevention, and other key areas of focus.’

Sen. Eric Schmitt, who has acted as a bridge between the White House and Senate on the rescission package, said that the administration supported the change, but was still unsure if there were enough votes to get the package across the line.  

‘I’m not in the prediction business, but we’re hopeful we’ll move forward here,’ the Missouri Republican said.

Vought argued that it was still ‘substantially the same package,’ and noted that the Senate had to work its will on the bill.

Lawmakers have until Friday before the stroke of midnight to get the bill on the president’s desk, or else the holds that the White House has on the billions in funding will end.

‘This is multi-year funding, it has to flow,’ Vought said. ‘If we’re outside of the 45-day window, we have to remove our hold on the money. So we will not implement the cuts if this is if this vote doesn’t go our way.’

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