Gold surged passed the $4,400-an-ounce mark today, with investors expecting more U.S. interest-rate cuts next year and heightened geopolitical risks. It's risen about 70 percent this year, on track for its biggest gains in nearly 50 years.

E&E reports that, while state regulators consider electricity rate structures next year, rising electricity prices are expected to be a hot topic during next year's midterm elections. As electricity demand surges with data centers and AI, the U.S. Energy Information Administration, the average residential utility rate rose 5 percent between 2024 and 2025 and is forecast to rise another 4 percent between 2025 and 2026. We know it's something the White House is watching closely and the Department of Energy is taking steps to limit the affordability and reliability crisis by keeping more coal plants online.

And the New York Times Editorial Board today writes that it is time to end China's rare earths dominance. It calls on Congress to pass legislation to expand the country's rare earth capabilities, potentially modeled after the CHIPS Act.