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Don Durrett of GoldStockData.com outlines current gold and silver market dynamics, explaining why the metals continue to rise and how high they could go in the future.

He also shares his current gold and silver stock strategy.

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

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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.

Arcadia Economics interview

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.

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In their zeal to create compelling studio television, Derek Jeter and Alex Rodriguez rankled their former boss.

Brian Cashman, the New York Yankees’ longtime general manager and vice president, fired back at criticism of his regime and the handling of manager Aaron Boone in an appearance on an area radio station.

After the Yankees were eliminated in Game 4 of their American League Division Series by the Toronto Blue Jays, Jeter and A-Rod fired some shots from their Fox Sports postgame show perch.

Rodriguez called these Yankees “one of the worst constructions of a roster I’ve ever seen,” after the club won 94 games, defeated Boston in the AL wild card series and succumbed to the Blue Jays, who also won 94 games and claimed the division title on a tiebreaker.

Jeter, while claiming he had no “inside knowledge,” repeated the well-worn claim that Boone merely parrots front office strategy and that in-game maneuvers are scripted by his superiors.

“I’m pretty sure Aaron’s not the one that’s calling every move that they make throughout the game,” Jeter said on air.

Cashman appeared on WFAN, the Yankees’ flagship station, to push back against the two baseball legends who once patrolled the left side of his infield. He intimated that he called Jeter to discuss the criticism.

“Clearly, they don’t know,” Cashman said. “I know DJ said that, I don’t know what he meant by it, he did say he doesn’t have inside knowledge when he said it, but he did say it, for whatever reason. And I think that’s the bugaboo that people get to throw out there when they got nothing else to throw.”

Cashman bemoaned the notion of “analytics, analytics, analytics” and that “none of that is accurate,” though the perception has existed ever since Boone replaced Joe Girardi – who was fresh off a trip to the 2017 ALCS – as Yankee manager before the 2018 season.

Jeter retired as Yankees shortstop after the 2014 season and went on to take an ownership stake and president position with the Miami Marlins before they parted ways in 2022 after five years. He intimated before his Hall of Fame induction that year that he looked forward to being a more regular presence around Yankee Stadium, even if that didn’t involve an official role.

Rodriguez, who Cashman signed to a $275 million extension when A-Rod opted out of an earlier deal in 2008, was ensnared in performance-enhancing drug scandals for two of his last six seasons as a Yankee. 

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Joe Flacco’s most impressive feat may have come via his feet.

The 40-year-old passer took a sip from the Fountain of Youth during the Cincinnati Bengals’ 33-31 win over the Pittsburgh Steelers on ‘Thursday Night Football.’ Flacco completed 31 of 47 passes for 342 yards and three touchdowns in the victory.

But it was a scamper that caught the attention of viewers and fans alike: On a read option, Flacco took a snap for 12 yards. On the ‘Thursday Night Football’ postgame show, Flacco detailed the play.

‘So there was a handful of plays today that I was like, ‘What is he saying?’ There were formations that ended in F and I was not getting it,’ Flacco said regarding his confusion with the offense.

‘That one (play), I read off my wristband, it was correct. Ja’Marr (Chase) lined up on the ball, Noah (Fant) lined up off, he (Ja’Marr) was supposed to be off the ball. He was supposed to counter motion and bluff that end. And when he was on the ball and the play clock was running down, I was like, ‘Ah, screw it.’

‘I was just gonna hand it off (to Chase Brown), but he (the defender) came off the edge so damn quick, I was like, ‘all right, I haven’t done this since my, probably, first or second year, but I’ll do it now.”

The result? A 12-yard run that left everyone stunned.

‘It felt good, it felt good, I can’t lie,’ Flacco said.

To that end, the Bengals offense must have felt good. It was a complete offensive effort that resulted in a win and a little bit of history for their passer: Flacco now sits in 15th place all-time in career passing yards, in the same game in which Aaron Rodgers moved up to fifth place.

As far as rushing yards go? Well, let’s just say Flacco has a lot more rushing attempts to go to make a dent in the record book.

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From unconscious to unstoppable, the Toronto Blue Jays have pulled even with the Seattle Mariners in this American League Championship Series thanks to a cast of characters both unlikely and highly anticipated.

A No. 9 hitter suddenly flexing his muscles. A 41-year-old trying to wring the last few pitches out of his skill set before jetting off to the Hall of Fame.

And a resident superstar very much acting the part.

The Blue Jays called upon all of that, most notably a command performance from starting pitcher Max Scherzer, to crush the Seattle Mariners 8-2 in Game 4 Oct. 17 at T-Mobile Park in Seattle.

Notching his first postseason victory since Game 1 of the 2019 World Series, Scherzer wobbled early, steadied himself and then unleashed a classic Mad Max tirade when manager John Schneider dared visit the mound with two outs in the fifth inning.

Schneider, just four years Scherzer’s senior, wisely backed off, Scherzer finished the fifth – and even got two more outs in the sixth.

Hey, 5 ⅔ innings, non-Dodgers edition, is a lengthy outing in this day and age and Scherzer – left off the AL Division Series roster and starting his first game since Sept. 24 – certainly gave Toronto more than anticipated.

So did Andrés Giménez.

For the second consecutive night, he hit a two-run homer in the third inning, in a sense singlehandedly pulling Toronto back from the brink after it came to the Emerald City trailing 2-0 in this best-of-seven.

In Game 3, that meant a game-tying shot. In Game 4, it was a go-ahead two-run homer, maybe a section to the right of his dinger the night before, and it ignited a five-run uprising over two innings for the Blue Jays.

He added a two-run single in the eighth, a four-RBI night.

In between all that, Vladimir Guerrero Jr. ripped a solo homer, his second in as many nights and fifth of the postseason, to push the lead to 6-2 in the seventh.

Seattle, save for the vociferous Canadians who trekked down from British Columbia to root for the Blue Jays, was shell-shocked.  This ALCS is now even.

And the Mariners will need their bats to wake up and right-handers Bryce Miller and Bryan Woo to be on point in Game 5 if they don’t want to go back to Toronto facing a 3-2 deficit.

Then again, the road team has won every game in this series. As Game 4 proved, there’s always more surprises lurking around the corner. 

Here’s how Game 4 unfolded:

Blue Jays blow it open in the eighth

The Mariners and Blue Jays traded runs in the sixth and seventh and Toronto took a 6-2 lead into the top of the eighth. With runners on second and third and one out, Andres Gimenez hit a two-RBI single to extend the advantage to 8-2, giving him four RBIs in Game 4 after his two-run homer earlier.

Max Scherzer becomes ‘Mad Max’ once more

Max Scherzer screamed at his manager. And then he turned his madness against his opponent, putting himself in line for his first postseason win since 2019. 

Scherzer, visited by Blue Jays manager John Schneider with two outs in the fifth inning, vociferously lobbied to stay in the game. Schneider agreed, and then Scherzer struck out Randy Arozarena on a curveball well outside the strike zone to preserve the Blue Jays’ 5-1 lead in ALCS Game 4. 

Scherzer, making his first start since Sept. 24, allowed just a second-inning homer to Josh Naylor and a pair of harmless singles, striking out four. Schneider even let him go out for the sixth, recording two outs before a walk prompted Schneider to lift him, for reals.

Reliever Mason Fluharty allowed that run to score on a Eugenio Suarez RBI single, trimming the lead to 5-2, but the game is on to the seventh, Toronto just nine outs from squaring the series.

At 41, Scherzer perhaps can’t go as deep in games as he used to. But he can still be Mad Max when he needs it. 

Blue Jays take 5-1 lead in fourth inning

The Toronto Blue Jays are getting contributions from all quarters – and drifting toward tying up this ALCS. 

Isiah Kiner-Falefa, given a start at second base, has two hits in his first two at-bats and scored on George Springer’s RBI double as the Blue Jays tacked on two more runs in the fourth to take a 5-1 lead. 

Toronto has sapped the energy from the Mariners and T-Mobile Park, as it chased Luis Castillo, dinged up lefty reliever Gabe Speier and then scored a fifth run when Matt Brash bounced a wild pitch off Cal Raleigh’s shin guard, scoring George Springer. 

Andrés Giménez slugs another HR for Blue Jays

The No. 9 hitter is now public enemy No. 1 in Seattle.

Andrés Giménez, who hit no home runs in his final 76 at-bats of the season, clubbed his second two-run home run in as many nights, as the Blue Jays scored three third-inning runs to take a 3-1 lead over the Mariners in Game 4 of the ALCS.

The home run circumstances were eerily similar.

Game 3, third inning, Mariners leading 2-0: Giménez rips a game-tying two-run home run.

Game 4, third inning, Mariners leading 1-0: Giménez tags a hanging slider from Luis Castillo 364 feet – perhaps a section or two over from his Game 3 shot – for a 2-1 lead.

The homer invigorated the throng of Blue Jays fans in Seattle and stunned Mariners fans worried their club may be staring at a 2-2 ALCS after Game 4.

After one-out singles by Nathan Lukes and Vladimir Guerrero Jr. and a walk to Alejandro Kirk, Castillo was lifted after recording just seven outs. Reliever Gabe Speier walked Daulton Varsho to score another run, but escaped the inning without further damage.

Josh Naylor home run puts Mariners in front

An invigorated Seattle Mariners lineup against a rusty Max Scherzer has already yielded an expected result. 

Josh Naylor ripped Scherzer’s second pitch of the second inning over the center field wall to give the Mariners a 1-0 lead in Game 4 of the ALCS.

Scherzer has not started since Sept. 24 and was not on the ALDS roster. The rust showed in the first inning, when he yanked pitches all over the zone and walked a pair, escaping on Jorge Polanco’s double-play grounder. 

Yet Naylor jumped him quickly in the second, and Seattle scored first for the third consecutive game. 

Mariners lineup today: ALCS Game 4

  1. Randy Arozarena (R) LF
  2. Cal Raleigh (S) C
  3. Julio Rodríguez (R) CF
  4. Jorge Polanco (S) DH
  5. Josh Naylor (L) 1B
  6. Eugenio Suárez (R) 3B
  7. Dominic Canzone (L) RF
  8. J.P. Crawford (L) SS
  9. Leo Rivas (S) 2B

Blue Jays lineup for ALCS Game 4

  1. George Springer (R) DH
  2. Nathan Lukes (L) LF
  3. Vladimir Guerrero Jr. (R) 1B
  4. Alejandro Kirk (R) C
  5. Daulton Varsho (L) CF
  6. Ernie Clement (R) 3B
  7. Addison Barger (L) RF
  8. Isiah Kiner-Falefa (R) 2B
  9. Andrés Giménez (L) SS

Anthony Santander replaced on Blue Jays roster

Toronto outfielder Anthony Santander’s season is over after being replaced on the ALCS roster by Joey Loperfido due to injury. MLB rules dictate that mid-series roster changes result in the player missing the next round of the playoffs.

Santander, signed to a $92.5 million free agent deal last winter, was limited to 54 regular-season games and had appeared in five of Toronto’s seven postseason games.

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Yet while some things will be forever, a 41-year-old with a surgically repaired back and a balky thumb that may portend arm trouble and thinning hair beneath his Toronto Blue Jays cap – fifth team in five years – suggests something else.

That it might be wise to take a look around, to cherish the moment, to appreciate the opportunity before the man never again throws another competitive pitch.

Then again, Mad Max could never.

The mound-stalking, snarling, three-time Cy Young Award winner has been largely missing the past four years, disappeared due to injury and a general lack of dominance and changes of addresses that, combined with performance, might gently suggest that his voice ought not be the loudest in the room.

Yet Scherzer’s Toronto era took a massive turn Oct. 17, two outs, fifth inning, Game 4, John Schneider heading out to the mound and, even though they’ve been co-workers since January, about to really meet Scherzer for the first time.

There were death stares and cuss words and raised voices – OK, all of that from Scherzer – and bemused infielders watching a future Hall of Famer take on his purest form.

“I thought he was going to kill me,” says Schneider. “It was great.”

Yeah, it takes a certain kind of masochist to manage a major league team, and a certain touch to realize that, even as most playoff starts nowadays are expired by the fourth inning, and that Scherzer’s Seattle Mariners counterpart, Luis Castillo, was hooked in the third inning, that performance – and pedigree – earns some slack.

“I’ve been waiting for that all year, for Max to yell at me on the mound,” Schneider told reporters in Seattle. “I think at that point there’s numbers, there’s projections, there’s strategy, and there’s people.

“So I was trusting people.”

And Scherzer rewarded him, striking out Randy Arozarena with a nasty curveball to strand a runner, and preserve Toronto’s four-run lead in an eventual 8-2 victory.

This ALCS is now tied, 2-2, just 48 hours after the Blue Jays stared at a 2-0 deficit and the notion that the next time the lads would toss the ball around together might come in Dunedin, not Toronto.

Yet suddenly, the Blue Jays are outflanking the Mariners in the most important ways. Their starters are pitching deeper into games, exposing Seattle’s bullpen further. They amassed 29 hits in two games in Seattle, with Game 5 in front of their Western Canada supporters to come.

It’s what one expects from the No. 1 seed in these AL playoffs. It’s just that Scherzer wasn’t expected to be a key part of it.

He hadn’t pitched since Sept. 24, the Blue Jays excluding him from the ALDS roster because a four- or five-inning starter who doesn’t miss a ton of bats simply had no role in that format.

And to be brutally honest, Scherzer’s last four postseason starts dating to 2022 produced an 0-2 record, 8.79 ERA and a 1.67 WHIP.

In his last October run, he pitched three shutout innings in Game 3 of the 2023 World Series, then abruptly exited while warming up in the fourth, back tightness ending his postseason. The Texas Rangers went on to win the World Series; Scherzer headed for offseason back surgery.

This year, myriad aches and pains – including that vexing thumb condition – limited Scherzer to 17 starts. Game 4, though, was different: Scherzer took a minute to find his rhythm in issuing two first-inning walks, got a key double-play ball, gave up a Josh Naylor second-inning home run and then was cruising.

He was snapping his curveball, and catcher Alejandro Kirk kept pressing for it. He picked off a runner. He outlasted Castillo.

It was within all that context that Schneider strolled to the mound and stared up at the toughest dude to lift from the game.

Good luck, Schneids.

“And then all of a sudden I saw Schneids coming out, and I kind of went, ‘Woah, woah, woah,” says Scherzer in a postgame news conference. “Like, I’m not coming out of this ballgame. I feel too good.

“So we had a little conversation that basically I wanted to stay in the game but just with some other words involved. I just knew I was strong, I knew I wanted the ball, I knew I could get outs in this situation.

“I just wanted to stay in. I wanted it.”

He got it. And got Arozarena, and stalked to the dugout, leading to another Schneider-Scherzer confab –away from cameras – that Schneider described as “another fun conversation, in the tunnel.”

So Scherzer got the sixth, too, and took down two more outs before leaving to a roar from the Blue Jays fans on hand.

With two more wins, the Blue Jays will reach the World Series for the first time since 1993. That would likely ensure another Scherzer start, probably against his former Los Angeles Dodgers club.

Yet there are no guarantees, not in this game, certainly not for those north of 40. So when Schneider lifted Scherzer, he tucked the ball in his back pocket.

“I just put it in my pocket and brought it in the dugout,” says Schneider. “Pretty cool for Max to have. He’s got a lot of stuff on his mantle, but I don’t know if he wanted it.”

Perhaps someday, but maybe not now. The sentimental glances around the stadium, the mementoes, the curtain calls are at least for now, still for another day.

On this one, Mad Max was back.

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  • Monday night’s battle between the Bucs and Lions in Motown projects as Week 7’s crown jewel.
  • The league will stage its final London game of 2025 on Sunday morning.
  • A team in need of a coach will be hosting its former one.

Week 7 of the 2025 NFL schedule will serve up a good-looking lineup … insomuch as a lot of teams will look a little different.

Thursday night, the Pittsburgh Steelers will visit the Cincinnati Bengals, who will wear their white tiger uniforms − perhaps in a needed bid to change their luck given the Steelers have prevailed in 10 of their past 12 trips to Paycor Stadium.

The Browns, Chargers, Cowboys and Lions will also be wearing alternate uniforms this weekend, while the 49ers will sport the throwbacks made famous during the march to their last Super Bowl crown during the 1994 season.

No novel unis Sunday morning, when the Los Angeles Rams and Jacksonville Jaguars play this season’s final game in London − but don’t worry, the league will invade continental Europe two weeks from now.

Sunday afternoon will feature the first-place New England Patriots traveling to Nashville to visit head coach Mike Vrabel’s former team, the Tennessee Titans, who would probably like to have him back at this point. The Los Angeles Chargers will host the Indianapolis Colts in a meeting of other teams currently residing atop their respective divisions.

The Niners will welcome the Atlanta Falcons, back in prime time again, in a matchup of top-tier RBs Bijan Robinson and Christian McCaffrey on ‘Sunday Night Football.’ Monday will bring a true doubleheader, the Tampa Bay Buccaneers and Detroit Lions clashing in what could be the game of the week at 7 p.m. ET before the Houston Texans and Seattle Seahawks lock up on the West Coast in a 10 p.m. ET kickoff.

What outcomes should you expect? We can’t speak for you … but USA TODAY Sports’ panel of experts will share their outlooks with these prognostications:

(Odds provided by BetMGM)

NFL Week 7 picks, predictions and odds

  • Pittsburgh Steelers at Cincinnati Bengals
  • Los Angeles Rams vs. Jacksonville Jaguars
  • Las Vegas Raiders at Kansas City Chiefs
  • Miami Dolphins at Cleveland Browns
  • New Orleans Saints at Chicago Bears
  • Philadelphia Eagles at Minnesota Vikings
  • Carolina Panthers at New York Jets
  • New England Patriots at Tennessee Titans
  • Indianapolis Colts at Los Angeles Chargers
  • New York Giants at Denver Broncos
  • Green Bay Packers at Arizona Cardinals
  • Washington Commanders at Dallas Cowboys
  • Atlanta Falcons at San Francisco 49ers
  • Tampa Bay Buccaneers at Detroit Lions
  • Houston Texans at Seattle Seahawks
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