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*                       FIEND'S SUPERBEAR MARKET REPORT                     *

*                                 June 20, 2025                             *

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*                       e-mail: fiendbear@fiendbear.com                     *

*                    web address: http://www.fiendbear.com                  *

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Fiend Commentary

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Consolidation or Calm Before the Storm?

Markets head into Friday trading with a wary sense of calm—but it’s the kind that keeps one eye on the headlines.

Silver, which briefly pierced the $37 level earlier this week, has pulled back slightly. That retreat may actually be a sign of strength, avoiding the kind of parabolic surge that often marks a short-term top. Gold continues to hover near the $3,500 threshold—another psychological barrier that’s proving sticky. So far, neither metal has shown signs of cracking, suggesting the uptrend may still have legs.

Oil is holding firm above $75 a barrel amid ongoing tensions in the Middle East. With reports that the U.S. is weighing deeper involvement, any new development could quickly reprice risk. For now, energy markets appear to be pricing in a prolonged conflict.

The overall market mood is cautious but not panicked. Investors seem content to consolidate gains and wait. But with rising global tensions and stubborn inflation signals still in the mix, the next move may not be up to them.

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