Key Takeaways
- Gold surged past $4,100 per ounce to a new record high, driven by US-China trade jitters and expectations of Federal Reserve rate cuts, with Bank of America (BAC) hiking its 2026 forecast to $5,000/oz.
- Silver also reached an all-time high, crossing the $50 mark and projected by BofA to test $65 per ounce.
- Michelin (ML) significantly cut its 2025 annual outlook, revising segment operating income guidance to between 2.6 billion and 3.0 billion euros from over 3.4 billion euros, citing worse-than-expected tire demand in North America and tariff impacts.
- Spotify (SPOT) began rolling out lossless audio streaming at 24-bit/44.1 kHz FLAC quality to Premium subscribers in over 50 countries at no additional cost, enhancing its competitive offering.
Precious Metals Soar Amid Trade Tensions and Bullish Forecasts
Gold prices achieved a new record high on Monday, breaking through $4,100 per ounce for the first time. This surge is attributed to renewed US-China trade tensions and growing expectations of US interest rate cuts, which have bolstered demand for safe-haven assets. The rally intensified following President Donald Trump's rhetoric on trade frictions with Beijing, prompting investors to seek safety.
Concurrently, silver also reached an all-time high, crossing the $50 mark and trading around $50.375 on the COMEX. Bank of America (BAC) has significantly raised its price forecasts for both precious metals, projecting gold to reach $5,000 per ounce by 2026 with an average of $4,400. The institution also set a target for silver at $65 per ounce, averaging $56.25, supported by fiscal deficits and a push for lower interest rates. Gold has already seen gains of over 55% year-to-date in 2025.
Michelin Downgrades Annual Outlook on Weak North American Tire Demand
French tire manufacturer Michelin (ML) announced a cut to its 2025 full-year outlook, citing worse-than-expected business conditions and deteriorating tire demand in the North American market. The company now anticipates 2025 segment operating income at constant exchange rates to be between 2.6 billion and 3.0 billion euros ($3.0 billion-$3.5 billion), a reduction from its earlier forecast of above 3.4 billion euros.
Michelin reported that third-quarter sales volumes in North America fell almost 10%, with plummeting demand from the truck and agriculture segments, and a weak sell-out market for truck replacement tires reflecting a soft economy. The company also noted that its group competitiveness has been impacted by tariffs on the margin front. Furthermore, Michelin lowered its expected free cash flow before M&A to between 1.5 billion and 1.8 billion euros, down from more than 1.7 billion euros, partly due to a weaker dollar.
Spotify Rolls Out Lossless Audio to Premium Subscribers
Spotify (SPOT) has finally introduced lossless audio streaming for its Premium subscribers, a highly anticipated feature that has been rolling out since early September 2025. This upgrade offers audio quality of up to 24-bit/44.1 kHz FLAC, providing a richer and more detailed listening experience comparable to CD quality.
The lossless audio feature is included at no extra cost for Premium users, a move that positions Spotify more competitively against rivals like Apple Music and Tidal, which have offered similar high-fidelity options for years. The rollout began in select markets, including the US, UK, Australia, Japan, and Sweden, and is set to expand to over 50 countries by October 2025. Premium subscribers will receive a notification in the Spotify app once the feature becomes available to them. While most music content is compatible, podcasts, audiobooks, and some songs will remain in lower quality.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.