“This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.
Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.
Source – MPRnews
Spot gold added 0.4% to $2,755.2 per ounce as of 02:29 p.m. ET (1629 GMT). Prices were at their highest since Oct. 31 when they hit their all-time high of $2,790.15.
“There are uncertainties with proposed tariffs and other things, and gold typically does well when there’s a large or even a moderate amount of uncertainty in the market, it’s a natural place where people gravitate to,” said Ryan McIntyre, senior portfolio manager at Sprott Asset Management
“(Trump) has been perhaps just a shade less hawkish on tariffs as feared, which helps — less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts,” said Tai Wong, an independent metals trader.
Source – Reuters
A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.
“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”
Source – Idaho Statesman
“The precious metal pushed back above $2,600/oz, suggesting the market saw the selloff as overdone,” ANZ Research analysts said in a note to clients. “Nevertheless, the market will take some time to adjust to the pivot the Fed appears to have taken on rates.”
Source – BARRONS
Follow up to Gold and Silver may be adopted as legal tender in Florida
Sponsored by Senator Rodriguez, Senate Bill 132 aims to redefine financial transactions, taxation, and payment of debts using these alternative forms of currency.
The legislation would also exempt transactions involving gold, silver, and related currencies from taxation. The move reflects a growing interest in alternative monetary systems as a hedge against economic uncertainties.
The proposed bill includes several significant measures:
・Definition of Legal Tender:
・Tax Exemptions:
・Government Acceptance:
・Prohibition on Compulsion:
・Regulatory Framework:
If passed, SB 132 would make Florida one of the few states to officially recognize gold, silver, and digital currencies as legal tender.
Source – Tampa Free Press
Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.
Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.
“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.
Source – Reuters
“The uncertainty surrounding Trump’s first measures as U.S. president fuelled demand for gold as a safe haven. This can be seen, among other things, in the strong inflow of more than 10 tons into the world’s largest and most liquid gold ETF on Friday,” Commerzbank Research said.
“The uncertainty as to whether tariffs will be introduced on gold and silver has already left visible traces on the Comex in recent weeks. In addition, the price premium for gold on the Comex has widened significantly compared to the spot price in London.”
Source – Seeking Alpha