{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Open Bid — Daily Morning Briefing on Auctions, Luxury & Markets","title":"Dollar Rises and Gold Falls; Swiss Watches Split Primary vs. Secondary; the Obama Center Opens; Milan Menswear Week","html":"","width":"100%","height":180,"duration":340,"description":"June 19: The Dollar Rises and Gold Falls; Swiss Watches Split Primary vs. Secondary; the Obama Center Opens; Milan Menswear Week\nThe week ends with a rising dollar and gold heading for its worst week; Swiss watch exports stall even as the auction market booms; Art Basel wraps; the Obama Presidential Center opens; and the Milan menswear shows begin.\nALT/FNDATA\n- Membership (PODCAST15 for 15% off): https://altfndata.com/go/ob-260619\n- Market reports: https://altfndata.com/go/ob-260619-r\n- Podcast episodes: https://altfndata.com/go/ob-260619-p\n\nMarkets — A Strong Dollar, a Weak Gold\n- After the Fed signaled on Wednesday it intends to keep rates higher for longer, the dollar climbed and gold dropped. Gold is heading for its worst week in months (~$4,166/oz, down from Monday's record); Goldman Sachs cut its gold forecast, citing a lower chance of rate cuts this year.\n- Stocks held up better — US markets rebounded Thursday, led by tech (Nasdaq +1.9%). European luxury opened mixed (LVMH/Burberry slightly up, Kering slightly down).\n- One bright spot: UK retail sales rebounded unexpectedly in May (earlier months revised higher) — consumer resilience that's welcome for the luxury houses' big London businesses.\nSwiss Watches, Two Markets\n- New watches: Swiss watch exports barely grew in May after two months of declines, as the Middle East conflict weighed on demand (Business of Fashion).\n- The secondary market tells the opposite story. Just last week, Phillips held the highest-grossing watch auction in US history — $75.8M, 100% sold (every lot found a buyer), led by a Swiss-made F.P. Journe at $13.9M, a world record for an independent watchmaker. Brands are shipping fewer new watches; collectors are paying record sums at auction.\nArt Basel Wraps Up\n- The fair's new \"Basel Exclusive\" section paid off, with early sales of big names like Picasso and Philip Guston — a sign the big-ticket end is finding buyers.\n- In a first, New York's Paula Cooper Gallery won the inaugural Art...","thumbnail_url":"https://img.transistorcdn.com/1z6r8f5r5Nhr5bhZafuzDRKp6vb1jRw2SVyBQTEXHzQ/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZjBi/ZDI5ODQ1ZTAwOTg3/MzMyNTZmOTEwNTY2/NDFiYS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}