Corazon Mining (CZN:AU) has announced Completes Two Pools Gold acquisition
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Corazon Mining (CZN:AU) has announced Completes Two Pools Gold acquisition
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Carbonxt Group (CG1:AU) has announced Convertible Note and Placement
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It’s been yet another historic week for gold and silver, with both setting new price records.
The yellow metal broke through US$4,200 per ounce and then continued on past US$4,300. It rose as high as US$4,374.43 on Thursday (October 16), putting its year-to-date gain at about 67 percent.
Meanwhile, silver passed US$54 per ounce and is now up around 84 percent since 2025’s start.
Gold’s underlying price drivers are no secret — factors like central bank buying and waning trust in fiat currencies have been major themes in recent years, and they continue to provide support.
But it’s worth looking at a number of other elements currently in play.
Among them are a resurgence in the US-China trade war, which has ramped up geopolitical tensions, and the ongoing American government shutdown. The closure has stalled the release of key economic data ahead of the Federal Reserve’s next meeting later this month.
There have also been troubles at two regional banks in the US — they say they were the victims of fraud on loans to funds that invest in distressed commercial mortgages. Aside from that, Rich Checkan of Asset Strategies International sees western investors entering the market.
‘We don’t have a tidal wave or a tsunami by any stretch of the imagination, but the western investor is getting back into this,’ he said, noting that for the past few years his company has mostly been selling to high-net-worth individuals and people looking for deals. ‘Now we’re having flat-out sales.’
Checkan also weighed in on where gold is at in the current cycle, saying the indicators he tracks — including the gold-silver ratio, interest rates and the US dollar — don’t point to a top.
‘They can take a breather, there’s no question about that — you almost kind of want them to. But the reality is, there’s no top in sight,’ he said. ‘I’ve got about, I don’t know, seven, eight, nine different indicators I look at for the top in a bull market for gold. None of them are firing.’
When it comes to silver, the situation is a little more complicated.
Vince Lanci of Echobay Partners explained that the London silver market is facing a liquidity crisis — while there’s not a shortage of the metal, it isn’t in the right place, and that’s creating a squeeze.
Here’s what he said:
‘London, when it needs metal, is having a hard time getting it from Asia, because China is not cooperating with the west — for good reason in their mind. And for some reason, the US is not making its metal available as robustly as it used to, to help fill refill London’s coffers. And so that creates a short squeeze.
‘There’s enough metal in the world for current needs — let’s say for today’s needs. But it’s not where it should be. So it’s a dislocation.’
Lanci, who is also a professor at the University of Connecticut and publisher of the GoldFix newsletter on Substack, also made the point that although these circumstances are front and center now, they’re just one part of the larger ongoing bull market for silver. In his view, its growing status as a critical mineral will have major implications, and a triple-digit price is realistic.
As a final point, I was recently interviewed by Chris Marcus of Arcadia Economics.
It was fun being on the other side of the camera for a change, and I have a new appreciation for everyone who sits down to answer my questions. Check out the interview below.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Israel is preparing to deploy one of the world’s first combat-ready laser air-defense system, marking a historic shift in how nations defend against rockets, drones and missiles — and a sign that Jerusalem is intent on staying one step ahead of its adversaries even as active fighting subsides.
In an interview with Fox News Digital at the Association of the U.S. Army (AUSA) conference in Washington, D.C., Rafael Advanced Defense Systems CEO Yoav Turgeman confirmed that the company has completed acceptance testing of its Iron Beam laser interceptor and is now delivering the system to the Israeli Air Force for operational use.
‘We have demonstrated the first production-line system. It was very successful,’ Turgeman said. ‘We are delivering the system to the Air Force, which will use it operationally.’
The Iron Beam represents a breakthrough in directed-energy technology — capable of destroying incoming rockets, drones and mortars with a beam of light that can strike targets moving as fast as the speed of sound and at a fraction of the cost of conventional interceptors.
‘The interception cost is just a few dollars,’ Turgeman explained. ‘There’s no interceptor debris, so the collateral damage is much smaller. It enables us to reduce the cost of interception and enhance the performance of our system.’
The Iron Beam’s rollout makes Israel the first nation to field a high-power laser interceptor integrated into a national air-defense network — a milestone that could redefine missile defense for decades to come.
Rafael designed it as part of Israel’s layered air-defense architecture, which also includes the Iron Dome, David’s Sling and Arrow systems.
The laser will handle short-range threats such as rockets, small drones, and mortar rounds, freeing up Iron Dome’s more expensive missile interceptors for higher-value targets.
‘Each layer complements the other,’ Turgeman said. ‘The system decides what is the optimized solution.’
Turgeman said Rafael will partner with Lockheed Martin to produce Iron Beam components and indicated the technology could be integrated into the U.S.’s Golden Dome plans.
‘We are looking forward to start the production stage,’ he told Fox News. ‘Lockheed Martin will take part in a significant part of the production. We were able to meet our schedule on time, even though we had a war.’
Modeled after Israel’s Iron Dome, the U.S. is currently developing plans for its own homeland missile defense shield.
‘We would love to see [Iron Dome] as part of that solution,’ he said. ‘We have Iron Dome, the Stunner interceptor, and the laser — all could help protect the U.S.’
The new technology comes amid relative calm in the Middle East. Israel and Hamas have maintained a cease-fire in Gaza, and Iran has not launched attacks since June’s 12-day war.
Still, Israel isn’t taking any chances: Turgeman said Rafael has doubled its research and development investment to ensure Israel maintains its technological edge.
‘If there will be another war, it will be the surprise,’ he said. ‘The idea is to deter the enemy from attacking Israel — that is the safest way to prevent war.’
At AUSA, Rafael also unveiled a new L-Spike loitering weapon, a drone-like missile capable of reaching a target rapidly and then circling overhead until a strike is authorized.
Turgeman said it’s designed for ‘time-critical targets’ and built to resist electronic warfare interference.
‘Even though the system has its own brain and can identify the target, the operator must approve the attack,’ he said. ‘One operator can run four systems — but the final decision is human.’
A prominent Washington think tank told Fox News Digital that one of its experts, who is a State Department employee, was placed on administrative leave after being accused of removing classified documents from secure locations and meeting with Chinese officials dating back to 2023.
The Justice Department announced Tuesday that Ashley Tellis of the Carnegie Endowment for International Peace was arrested over the weekend.
‘We are aware of the allegations against Ashley Tellis. He is now on administrative leave, including from his role as Tata Chair for Strategic Affairs,’ Katelynn Vogt, Vice President for Communications for the Carnegie Endowment for International Peace, said in a statement to Fox News Digital.
The Justice Department said Ashley Tellis was an unpaid senior advisor to the State Department and also a contractor with the Office of Net Assessment at the Department of Defense, recently renamed the Department of War. He is considered a subject-matter expert on India and South Asian affairs in his role at the Office of Net Assessment.
Tellis began working for the State Department in 2001, court documents state. He is accused of unlawful retention of national defense information, according to an affidavit.
‘We are fully focused on protecting the American people from all threats, foreign and domestic. The charges as alleged in this case represent a grave risk to the safety and security of our citizens,’ Lindsey Halligan, U.S. Attorney for the Eastern District of Virginia, said in a statement.
Tellis held a top-secret clearance and had access to sensitive information, federal prosecutors said in court documents.
During a search of his Vienna, Virginia, home, authorities found more than a thousand pages of documents marked ‘TOP SECRET’ and ‘SECRET,’ the court documents added.
On Sept. 12, Tellis had a coworker at a government facility print multiple classified documents for him, authorities said.
On Sept. 25, he allegedly printed U.S. Air Force documents concerning military aircraft capabilities. Federal prosecutors allege that he met with Chinese government officials multiple times over the past several years.
In September 2022, he met with Chinese officials at a Virginia restaurant while holding a manila envelope, prosecutors said.
If convicted, Tellis faces a maximum sentence of 10 years and up to a $250,000 fine, according to the Justice Department.
The Associated Press reported that Tellis was ordered detained Tuesday pending a detention hearing next week, and an attorney representing him, Deborah Curtis, said, ‘we look forward to the hearing, where we’ll be able to present evidence.’
The Carnegie Endowment for International Peace said on its website that Tellis specialized ‘in international security and U.S. foreign and defense policy with a special focus on Asia and the Indian subcontinent.’
‘While on assignment to the U.S. Department of State as senior adviser to the undersecretary of state for political affairs, he was intimately involved in negotiating the civil nuclear agreement with India,’ it added.
‘Previously he was commissioned into the U.S. Foreign Service and served as senior adviser to the ambassador at the U.S. Embassy in New Delhi. He also served on the National Security Council staff as special assistant to President George W. Bush and senior director for strategic planning and Southwest Asia,’ the Carnegie Endowment for International Peace said.
It also described Tellis as a ‘member of several professional organizations related to defense and international studies including the Council on Foreign Relations, the International Institute of Strategic Studies, the United States Naval Institute, and the Navy League of the United States.’
As Israel and Hamas lay down their arms after more than two years of war, the U.S. is stepping in to oversee the next phase of the deal as a peacekeeping force is formed.
Sources tell Fox News that all 200 U.S. troops had arrived in Israel by Tuesday night and will operate out of a base in Israel. Additionally, a U.S. Military C-17 transport plane packed with command-and-control equipment and supplies arrived Tuesday.
Last week, negotiators working toward a Gaza deal participating in talks in Sharm el-Sheikh, Egypt, asked U.S. Central Command (CENTCOM) to brief both sides, sources tell Fox News. CENTCOM Commander Adm. Brad Cooper, along with Jared Kushner and Special Envoy Steve Witkoff, briefed the Qataris, the Egyptians and the Turks on the Civil Military Coordination Center (CMCC).
Once the U.S. committed to providing heavy coordination, but no boots on the ground in Gaza, negotiators left to tell the Israelis and Hamas. From there, things moved quickly, and, as one well-placed source said, ‘They saw an opportunity and moved at lightning speed and took it.’ However, with speed comes risk as certain questions were left unanswered, such as who would be in the stabilization force in Gaza? Or, what is the mechanism for ensuring Hamas disarms?
Fox News has learned that the CMCC will be located a few miles northeast of Gaza, not at the Israel Defense Force’s Hatzor Airbase, as some previously reported. The CMCC will be under U.S. leadership, but it will also have representatives from multiple countries and stakeholders, such as the United Nations and private aid groups. U.S. personnel will monitor everything going in and out of Gaza, and will oversee all logistics of delivering aid to the enclave.
While the center is expected to be operational in the coming days, Egypt, Turkey and Qatar have yet to decide whether their representatives will be based there.
Neither Jordan nor Egypt said they would be willing to send troops to stabilize Gaza, and it looks as though countries outside the region could be left to handle the situation, but nothing has been finalized. Additionally, outside countries willing to send troops would likely need a mandate passed by the U.N. Security Council, as well as approval from their own governments, giving Hamas more time to rebuild and fill the power vacuum.
Despite heavy losses in the war and international threats, Hamas fighters have shown signs that they are not ready to stand down. Since the start of the ceasefire, videos of extrajudicial killings by Hamas in public squares began circulating online.
‘We strongly urge Hamas to immediately suspend violence and shooting at innocent Palestinian civilians in Gaza — in both Hamas-held parts of Gaza and those secured by the IDF behind the Yellow Line,’ Cooper said in a statement Wednesday. ‘This is an historic opportunity for peace. Hamas should seize it by fully standing down, strictly adhering to President Trump’s 20-point peace plan, and disarming without delay.’
Fox News has learned of a massive effort taking place behind the scenes to plan and execute the rebuilding of Gaza. Part of the issue is the giant tunnel network under Gaza City. To rebuild the city, the tunnels will need to be filled to make the ground stable enough for construction.
The first phase of the deal remains ongoing as Hamas has failed to deliver all 28 bodies of deceased hostages, making it less clear when the second stage will begin. Israel has repeatedly reaffirmed its commitment to getting all the deceased hostages’ bodies so they can have proper burials.
On Monday, Israel received the bodies of four deceased hostages later identified as Yossi Sharabi, Binpin Joshi, Guy Iluz and Daniel Peretz. Israel received four more bodies on Tuesday, three of whom were identified as deceased hostages Staff Sgt. Tamir Nimrodi, Uriel Baruch and Eitan Levi. Israel said the fourth body did not match any of the hostages and was in fact a Palestinian.
‘Hamas is required to make all necessary efforts to return the deceased hostages,’ the IDF wrote on X.
Members of the conservative House Freedom Caucus, led by GOP Conference Chair Lisa McClain, R-Mich., held a press conference on Wednesday afternoon, making the argument that Republicans have a winning hand when it comes to messaging over the government shutdown — even as the stalemate drags on into a 15th day.
To the group’s chair, Rep. Andy Harris, R-Md., that’s because the ball is solidly in the Democrats’ court.
‘We’re in the second week of a shutdown with no end in sight. Hopefully, the Senate Democrats change their minds and decide to reopen the government. But until then, the Republicans are standing together,’ Harris said.
During the call, members doubled down on support for the clean-spending extension Republicans advanced last month — not just as a matter of policy, but also as a facet of public opinion.
‘I think if the American people understand the truth, they will put pressure on their Democratic senators to actually open up the government,’ McClain said.
Republicans need the support of at least seven Democrats in the Senate to clear the 60-vote threshold to pass spending legislation over a filibuster. The GOP holds 53 seats in the chamber.
Congress remains gridlocked over funding allocations for the 2026 fiscal year which began at the start of October. Although Republicans had advanced a short-term spending plan to keep the government open through Nov. 21, the government entered a shutdown on Oct. 1 when Democrats made it clear they wouldn’t support any spending extension without a key add-on: the continuation of emergency, COVID-era healthcare subsidies set to expire at the end of 2025.
‘We passed it clean, no gimmicks. No gimmicks, no tricks, just at the exact same funding levels, of which, I might add, the Democrats put in place, that they voted for 13 times ago, as recently as March. But Democrats killed it,’ McClain said, referring to the Republican-led stopgap legislation.
Republicans have framed the standoff as a Democrat attempt to take the government hostage over bloated government programs that would add billions to the country’s expenses.
Democrats see the shutdown as a Republican refusal to negotiate over healthcare — one that will spike the monthly premiums of anyone currently relying on the expanded COVID-era subsidies to pay for Obamacare health insurance plans.
Members of the Freedom Caucus said that consideration of some sort of tax-credit extension is still out of the question.
‘The bottom line is that the COVID-era enhancements have to end. Should we be looking at other reforms to Obamacare to stop the upward spiral of insurance premiums? Sure, we should. But to discuss, again, COVID-era enhancements as the Democrats want to do is a complete nonstarter,’ Rep. Keith Self, R-Tx., said.
That’s of particular focus to the House Freedom Caucus; since its formation in 2015, the group has always had its eye on reeling in government spending.
Some members of the caucus noted that it’s unusual for the group to support a clean-funding extension at levels the group believes are too high to begin with.
‘We’ve given [in] to the Democrats by extending the Biden policies, Biden funding. We could put Republican priorities — Republican funding requests on this, but we didn’t. So, we have already given [in] on this. They are demanding more. Well, not this time,’ Harris said.
As the shutdown enters a third week, neither side has signaled an intent to blink any time soon.
The Senate will consider spending legislation again on Thursday. If it fails, it will mark the 10th time Democrats have rejected the Republican-led spending extension.
A federal judge in San Francisco on Wednesday blocked the Trump administration from continuing government furloughs, granting a temporary restraining order sought by labor unions that argued layoffs were unlawful during the ongoing government shutdown.
U.S. District Court Judge Susan Illston, a Clinton appointee, ordered the administration not to issue any reduction in force notices to federal employees in ‘any program, project or activity,’ including any bargaining unit or member represented by the unions during, or because of, the shutdown.
‘The evidence suggests OMB and OPM have taken advantage of the lapse in government spending–function to assume all bets are off and that the laws don’t apply to them,’ Illston said.
She further claimed the administration’s actions were ‘…illegal and is in excess of authority and is arbitrary and capricious.’
In a court filing Tuesday night, an official with the Office of Management and Budget (OMB) said more than 4,000 government workers had already received reduction in force notices.
This is a developing story. Please check back for updates.
President Donald Trump on Wednesday announced federal law enforcement will next set its eyes on San Francisco, commending the FBI’s more than 23,000 violent criminal arrests, which he said is more than double the number arrested in the final year of the Biden administration.
During an Oval Office news conference at the White House, Trump said the FBI has ‘destroyed or severely disrupted’ more than 170 organized criminal enterprises and gangs, 1,600 of the most violent gangs, and confiscated more than 6,000 illegal firearms since he was sworn in.
He added he wants to make every city safe, and his focus has turned to San Francisco.
‘These are great cities that could be fixed,’ the president said. ‘I’m going to be strongly recommending … [we] start looking at San Francisco. I think we can make San Francisco one of our great cities. … It’s a mess, and we have great support in San Francisco. … Every American deserves to live in a community where they’re not afraid of being mugged, murdered, robbed, raped, assaulted, or shot.’
During the news conference, FBI Director Kash Patel announced ‘Operation Summer Heat,’ which the FBI created to target violent criminals, yielded 8,700 arrests of violent offenders in three months.
More than 2,200 guns and 421 kilograms of fentanyl seized during the operation—enough fentanyl to kill 55 million Americans, according to Patel.
To date, he said the FBI has seized 1900 kilograms of fentanyl—enough lethal doses to kill 127 million Americans alone to date.
‘If you look at the past four years of the Biden administration, [there were] 16,000, 17,000, 15,000, 15,000 … arrests year over year of violent felons in this country,’ Patel said. ‘You have 28,600 arrests of violent felons in just seven months alone because of your leadership and the dedication of the men and women at the FBI who want to go out there and do the job they were prevented from doing. … This number is historic by every metric.’
Patel also highlighted the FBI’s efforts to find missing children, claiming 5,400 were located since January.
‘That is a 30% increase year to date over the last administration,’ he said. ‘Violent crimes against children arrests alone are up 10% [and] gang arrests are up 210% in the last seven months alone. … Mr. President, you said we have to go after the worst of the worst. … This is just the beginning.’
The State Department told Fox News that it is aware of reports Wednesday that two American tourists were attacked in a popular European seaside destination that local media and police said left one person dead and another wounded.
The alleged attack happened early Wednesday in Cascais, Portugal, a coastal resort town about 20 miles west of Lisbon.
Video taken by Reuters showed blood stains on a sidewalk, where a stabbing had taken place during an attempted robbery, according to media reports.
A State Department spokesperson told Fox News Digital that the agency takes seriously its commitment to protect U.S. citizens abroad and stands ready to provide consular assistance.
‘One of the young men died at the scene and the other suffered injuries to his face and arms and was taken to [a] hospital,’ the Portugal Resident newspaper cited the Lisbon Metropolitan Command police force as saying.
The attack was carried out by three suspects who fled the scene in a vehicle, the newspaper added.
Further details about the incident and the identities of the victims were not immediately available.
This is a developing story. Please check back for updates.
Fox News’ Nick Kalman contributed to this report.