{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Stocks Rebound but Gold and Silver Get Routed; Luxury Bounces Back; a $36M Pearl on Rarity vs the Spot Price","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/28079c8f\"></iframe>","width":"100%","height":180,"duration":391,"description":"June 18: Stocks Rebound but Gold and Silver Get Routed; Luxury Bounces Back; a $36M Pearl on Rarity vs the Spot Price\nA two-sided day as stocks rebounded and luxury shares bounced back on both continents, but the same Fed signal of higher-for-longer rates that lifted the dollar and bond yields drove precious metals sharply lower, with gold and silver both falling hard.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/go/cp-260618\n- Market reports: https://altfndata.com/go/cp-260618-r\n- Podcast episodes: https://altfndata.com/go/cp-260618-p\nLuxury Equities Rebound\n- Europe higher: Kering (KER) +4.4% (leader); Watches of Switzerland (WOSG) +2.4%; Hermès (RMS) +2.0%; Richemont (CFR) and Burberry (BRBY) each +1.7%; Swatch (UHR) +0.5%. Laggard: LVMH (MC) −1.2%.\n- US higher: Movado (MOV) +3.3% — the name we flagged yesterday as one investors give little credit, leading the bounce; Capri/Versace (CPRI) +3.0%; Ralph Lauren (RL) +2.3%; Ferrari (RACE) +2.2%; Signet (SIG) +2.0%. Laggard: Tapestry (TPR) −1.6%.\nA Note on Ferrari\n- Bloomberg reports Ferrari is using orders for its new EV, the Luce (~$636K, coolly received, designed by Jony Ive's LoveFrom), as a loyalty test: buying one helps protect a client's access to coveted limited models like the ~$2.1M LaFerrari Aperta.\n- The takeaway: at the very top of luxury, the rarest products are allocated to the most loyal, highest-spending clients. Demand is engineered as much as met.\nThe Sell-Off in Metals\n- Gold fell ~3.3% to ~$4,214/oz; silver dropped ~7.3% which was a sharp reversal just two days after gold set records.\n- The cause is the Fed: a tilt toward higher rates means a stronger dollar, both bad for gold (which pays no yield and is dollar-priced). Oil eased ~2% to ~$75/bbl.\nRarity vs the Spot Price\n- Gold and silver carry a spot price that can swing several percent in a day. The rarest physical objects have no spot price and they trade on scarcity.\nThe Wider Tape\n- A tech-led rebound: Nasdaq +1.9%, S&P 500...","thumbnail_url":"https://img.transistorcdn.com/-hOE2p7i6o042-uL_U7DDqKjx_Az8ErebwSEdvS9Gfo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jMTc5/NmRjNzQ2MTE0NmFl/YWY4OTQyODMxMTlh/ZGNiYy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}