Sprott targets rare earths as supply chain tensions reshape 2026 market

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[1] Sprott's Schoffstall on Rare Earth Portfolio Drivers & More (https://www.etftrends.com/gold-silver-investi ...)[2] Lynas’ Pentagon Rare-Earth Supply Deal Draws Malaysia Scrutiny (https://www.bloomberg.com/news/articles/2026- ...)[3] The U.S. Is Trampling Allies in the Global Hunt for Rare Earths (https://www.msn.com/en-us/news/world/the-us-i ...)[4] United States (https://www.aljazeera.com/where/united-states ...)[5] SETM Sprott Critical Materials ETF (https://seekingalpha.com/symbol/SETM ...)

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Jul 17 2026, 22:37

White House seizes control of 2 AI initiatives from Anthropic, OpenAI

The White House is taking direct control over access to frontier AI models, wresting authority from Anthropic and OpenAI that previously decided who could use their most advanced systems through two cyber-security initiatives. "The administration determined that private-sector control over frontier model access posed national security risks that required direct government oversight," according to a CNBC report published July 17 that detailed the policy shift. Anthropic's Project Glasswing and OpenAI's Project Daybreak had operated as private-sector gatekeeping programs, determining which entities — including foreign governments, corporations and research institutions — could access the companies' most advanced AI systems. The White House will now assume that authority, centralizing decisions previously distributed across the two labs. The move carries significant implications for the $200 billion-plus AI industry, potentially slowing model release timelines and raising compliance costs for major players including OpenAI, Anthropic, Google and Microsoft. The policy shift could reduce profit expectations for companies that have invested billions in frontier AI development, as government oversight introduces uncertainty around commercialization timelines. The transfer of authority marks a sharp departure from the industry's previous self-regulatory approach. Under the prior framework, Anthropic and OpenAI independently vetted access requests for their frontier models, balancing security concerns against commercial interests. The White House intervention effectively replaces that dual-track system with a single government gatekeeper. The policy shift comes as the Trump administration has pursued a broader reassertion of authority over AI governance. In recent months, the White House has indicated it views frontier AI models as strategic assets warranting the same level of government oversight applied to nuclear technology and advanced semiconductors. The administration's previous push to overrule existing AI regulation has faltered as Republicans split on the issue, according to a separate report. **Compliance Costs Set to Rise for AI Labs** For Anthropic and OpenAI, the loss of autonomy over access decisions introduces new compliance burdens. Both companies had structured their cyber initiatives as voluntary security programs; the transition to government-mandated access control could require additional staffing, reporting and audit mechanisms. The financial impact, while not yet disclosed, is expected to weigh on margins at a time when both companies are racing to monetize their frontier models. Anthropic, which has raised more than $7 billion from investors including Amazon and Google, had positioned Project Glasswing as a responsible-access framework that balanced security with commercial deployment. OpenAI's Project Daybreak served a similar function, screening access requests for its GPT-series models. Both programs will now operate under White House direction, with the administration setting the criteria for who can access frontier systems. **Broader Market Implications** The policy shift extends beyond Anthropic and OpenAI. Google, which develops its Gemini family of frontier models, and Microsoft, which has integrated OpenAI's technology across its product suite, could face similar government oversight as the White House expands its regulatory footprint. The tech-heavy Nasdaq 100 could see pressure as investors reassess the regulatory risk premium embedded in AI stocks. The last time the U.S. government asserted direct control over an emerging technology class was in 2022, when the Commerce Department imposed export controls on advanced semiconductors to China. That move reshaped the semiconductor supply chain and contributed to a 30% decline in Nvidia's data center revenue forecast over the subsequent quarter, according to company filings. While the AI access controls are narrower in scope, the precedent suggests markets may price in a similar adjustment period. The policy also raises questions about international competitiveness. China's AI labs, including Baidu and Alibaba, operate without comparable government access restrictions on their frontier models, potentially giving them a commercial advantage in markets where U.S. AI companies now face additional regulatory hurdles. The White House has not specified whether the access controls will apply to foreign entities seeking to deploy U.S. frontier models abroad. This article is for informational purposes only and does not constitute investment advice.

Jul 17 2026, 22:10

ECB stablecoin warning knocks Coinbase 1.75% and Circle 6% lower

European Central Bank board member Piero Cipollone warned that wider stablecoin use would drain retail deposits from commercial banks, sending Coinbase Global Inc. shares down 1.75% to $157 and Circle Internet Group Ltd. down 6% to near $60. "If the use of stablecoins increases in the future, banks will also lose retail deposits," Cipollone said Friday at the annual meeting of Italy's Federation of Cooperative Credit Banks in Rome. The warning echoes concerns raised by US banking groups over the CLARITY Act's stablecoin yield provisions. Coinbase shares fell to $157, with the Chaikin Money Flow reading at -0.05 and the MACD line negative, signaling sustained selling pressure. Circle touched $58 during pre-market trading on July 17, its lowest since February 2026, before recovering to $60. The global stablecoin market stands at roughly $300 billion, almost entirely dollar-denominated, per DefiLlama data. The ECB has named 36 payment providers — including Deutsche Bank, UniCredit and Revolut — for a 12-month digital euro pilot starting in the second half of 2027, after the European Parliament voted 416-169 to begin formal legislative negotiations. In the US, the CLARITY Act's Section 404, which would allow stablecoin issuers to offer yields, has drawn opposition from banking groups who warn it could trigger deposit flight from small banks. The bill has a 69% probability of passing before the August recess, according to betting markets. Cipollone framed the digital euro as the structural answer to the deposit risk. The central bank digital currency would let customers open accounts at their commercial banks and pay across the euro area in shops, online and person-to-person. Holdings would carry no interest, and calibrated limits would cap wallet balances, giving users little reason to move large sums out of the banking system. The ECB's own financial stability analysis concluded the design poses no material risk to bank liquidity. The warning follows a regulatory shakeout in Europe's stablecoin market. Tether skipped Markets in Crypto Assets authorization after the transition period closed on July 1, leading to USDT being pulled from regulated EU exchange order books. A bank consortium called Qivalis — grouping ING, UniCredit, BNP Paribas, CaixaBank and BBVA — is preparing a MiCA-compliant euro stablecoin backed one-to-one, with at least 40% of reserves in bank deposits. Analysts see further downside for both stocks. Compass Point warned that Coinbase could fall to $140 if the CLARITY Act does not pass, while Oppenheimer trimmed its price target to $209, citing weak trading volumes on the exchange. Mizuho forecast Circle shares could drop to $50, warning that the new OpenUSD stablecoin may erode Circle's market share. ARK Invest purchased $17 million of Circle shares during the selloff, according to recent filings. The broader payments infrastructure in Europe compounds the structural challenge. Two-thirds of card payments in the euro area now run on non-European schemes, and 13 of the bloc's 21 countries lack a national card scheme, leaving the region reliant on payment rails it does not control. *This article is for informational purposes only and does not constitute investment advice.*

Jul 17 2026, 22:09

Gold sentiment turns bearish as 79% of analysts predict further losses

Gold closed at $4,015.83 an ounce, down 1.8% for the week, after repeatedly testing the $4,000 support level. "Gold has failed to inspire and looks poised to challenge the year's low near $3,943," Marc Chandler, managing director at Bannockburn Global Forex, said. The metal opened the week at $4,108.18 an ounce before sliding to a weekly low of $3,959.37 on Friday. A brief rally to $4,122.63 on Monday faded after stronger-than-expected U.S. retail sales data — up 0.2% in June — reinforced expectations that the Federal Reserve will maintain restrictive policy. June CPI cooled to 3.5%, but the data failed to provide sustained support. A sustained break below $4,000 could trigger further selling toward $3,600, according to Bank of America technical analysts, while the seasonal pattern suggests gold typically bottoms in early August before resuming its uptrend. **Wall Street Turns Bearish** The latest Kitco News Weekly Gold Survey showed Wall Street overwhelmingly bearish on gold's near-term prospects. Of 14 analysts, 11 — or 79% — predicted further price declines, while one expected gains and two saw sideways trading. Main Street sentiment remained divided, with 40% of 169 retail investors looking for higher prices, 36% expecting declines, and 24% forecasting consolidation. "Unlikely to see a breakout to the upside until the sentiment clearly changes to a 'no-hikes' Federal Reserve," Adrian Day, president of Adrian Day Asset Management, said. Alex Kuptsikevich, senior market analyst at FxPro, said he expects gold to decline toward $3,300 by September, citing a continuing downward trend that began with January's peaks. CPM Group issued a sell recommendation at $3,980 an ounce with a target of $3,820 and a stop loss at $4,090. **Oversold Signals Point to Potential Rebound** Despite the bearish sentiment, several indicators suggest the selloff may be reaching exhaustion. Paul Wong, managing partner at Sprott Inc., said gold is trading at minus two to three standard deviations oversold across multiple internal measures. "It means that it's harder and harder to push down the price of gold," Wong said. "The bulk of the selling is probably done." Jesse Colombo, independent precious metals analyst, noted that a triangle pattern has formed on the daily gold chart, with multiple failed attempts to push gold below $3,960. "That's a sign that buyers are coming in at these levels," Colombo said. "My hope is that the selloff is reaching exhaustion." Bank of America technical analyst Paul Ciana said gold's current correction remains disproportionately short relative to the preceding 121-week advance. While prices could test $3,600, he recommended investors consider averaging down to build positions, with accumulation below $4,000 and more aggressive buying in the $3,700 to $3,600 area. The next major catalyst for gold will be the European Central Bank's monetary policy decision on Thursday, followed by July's S&P Global Flash PMI data on Friday. This article is for informational purposes only and does not constitute investment advice.