Already thinking about Friday today. On August 11, we launch the successful podcast Deffner and Zschäpitz on TV at 17.45 CET on WELT Fernsehen.

Silver tops $50/oz, the highest since a notorious squeeze orchestrated by the billionaire Hunt brothers in 1980. https://t.co/nqPQWfkj3r

Party like it’s 1999! Germany’s benchmark Dax index is following Wall Street’s lead and has now hit a new all-time high. Since its launch in 1988, the Dax has delivered an avg annual return of 9% – solid, but still below the S&P 500’s impressive 11.4% per year.

Good Morning from Germany, where the trade surplus widened slightly in Aug as imports fell 1.3% – a steeper drop than exports, which declined 0.5% MoM. Exports to the US – Germany’s largest trading partner – fell 2.5% to €10.9bn, marking the fifth straight monthly decline and

OOPS! #Argentina's short-term interest rates soared to a fresh high as the govt stepped up dollar sales to defend the peso, deepening a cash crunch that’s throttling the economy. The Treasury sold dollars for a 7th straight session, unloading at least $320 million, according to

#OpenAI, #Nvidia fuel $1tn AI market w/web of circular deals. A wave of deals and partnerships are escalating concerns that the trillion-dollar AI boom is being propped up by interconnected business transactions. https://t.co/abiPWR0eZs

Good Morning from #Germany, where industrial production slumped 4.3% in Aug MoM, far worse than any forecast. The sharp decline was primarily driven by a collapse in the country’s largest industrial sector, the automotive industry, where output fell a staggering 18.5% MoM, adj

#Gold smashed through $4,000/oz for the 1st time. Gold has jumped >50% this year in the face of political uncertainties over global trade, the Fed's independence and global fiscal stability. Bullion is on pace for its best annual performance since the 1970s, with some analysts

Goldman Sachs has raised its December 2026 #Gold price forecast to $4,900/oz (from $4,300 prev), citing strong & persistent inflows that have fueled a 17% rally since Aug26. The bank says continued buying from Western ETFs and CenBanks appears to be durable, prompting it to lift

Good Morning from Germany, where factory orders unexpectedly fell for the 4th straight month – another blow to the govt’s efforts to pull Europe’s largest economy out of 2yrs of stagnation. Industrial orders dropped 0.8% in Aug, defying economists’ expectations of a 1.2%

Central banks are also participating in the debasement trade. The share of #Gold in global foreign exchange reserves has climbed to a record 24%. (via JPM)

Debasement Trade propels #Gold, #Silver and #Bitcoin as investors flock to the perceived safety of real assets while pulling away from major currencies. The Yen tumbled on Monday as pro-stimulus lawmaker Sanae Takaichi was set to become Japan’s next PM. The Dollar, which has

#France: 10-year risk spread over Germany jumps after PM Lecornu resigns just 3 weeks after appointment, plunging the country deeper into political turmoil.

Good Morning from Germany, where Deutsche Bank has cut its GDP forecasts for Germany, warning that the country’s lack of meaningful structural reforms means the govt is getting less “bang for its buck” from fiscal stimulus measures. For 2025, Deutsche Bank now expects German GDP

Digital #Gold - aka #Bitcoin – is following its analogue counterpart, hitting a new record high >$125k – a milestone in the ongoing debasement trade, as investors seek protection from currency devaluation.

Good Morning from #Germany, where gas storage facilities now 76%, full ahead of heating season. While this exceeds govt’s relaxed target, it marks lowest level since Russia’s invasion of Ukraine. In 2022, 2023 and 2024, reserves were consistently higher at this point in the year.

Good morning from #Germany, where Chancellor Friedrich Merz has warned that the country must face up to painful reforms – or risk watching its economy wither. Unemployment has risen sharply as industrial companies cut jobs, and Merz’s comments echo growing fears that Germany’s

The Gold-to-Oil ratio is flashing a warning: falling oil prices indicate weak confidence in the global economy, while rising #gold prices reflect growing fear and risk aversion.

Good Morning from Germany on Unity Day. Even 35 years after reunification, East Germans remain underrepresented in leadership roles across business and society. Based on population share, they should hold ~20% of top positions — yet not a single Dax top manager comes from East

OpenAI valuation soars to $500bn, topping Musk’s SpaceX. Current and former OpenAI employees sold ~$6.6bn of stock to investors at a $500bn valuation, boosting the US company’s price tag well past its previous $300bn level. https://t.co/qJgc7EiEON

Good Morning from Germany, where global AI hype has lifted Siemens Energy to a fresh record high. The company, which also provides services for Fermi (fresh off its IPO yesterday), has seen its value increase fivefold since being spun off from Siemens in 2020. With a Dax