Gold prices are trading slightly lower on Monday morning. Market participants have adopted a cautious stance, assessing recent economic and political developments while anticipating crucial U.S. economic indicators scheduled for release later this week. Gold is trading at $2,393.82, down $7.01. Silver is trading at $28.94, down 29 cents. Fortune reports, a confidential report by the Office of the Comptroller of the Currency (OCC) has found that half of the major U.S. banks it oversees have inadequate management of operational risks, such as cyber attacks and employee errors. Out of 22 large banks assessed, 11 were rated as having “insufficient” or “weak” management in this area. This contributed to about one-third of the banks receiving poor overall risk management scores. The findings underscore heightened regulatory concern following recent bank failures, with the OCC emphasizing the need for banks to actively manage their risks and avoid complacency. As Acting Comptroller Michael Hsu noted, “The provision of banking services increasingly resembles global manufacturing supply chains, with their efficiencies, complexities and vulnerabilities.” This broad category of operational risk includes various potential threats beyond traditional financial risks, prompting regulators to intensify scrutiny and develop new standards for resilience.
