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Gold prices fall as yield rises

ByVictoria

Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40.

“Bond yields are back up again, placing pressure on gold,” said Nitesh Shah, commodity strategist at WisdomTree.

“There’s speculation that Trump is going to pull back on tariffs … If (the prices of) commodities go up, inflation’s going to remain higher for longer,” Phillip Streible, chief market strategist at Blue Line Futures, said.

Source – Reuters

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Marine Corps minted coins honoring 250th anniversary

ByVictoria
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The coins are available in gold, silver and clad metals and can be purchased individually or as a set. The $5 gold coin depicts the Marine Corps Color Guard; the $1 silver coin shows the flag raising at Iwo Jima; and the half-dollar clad coin features two Marines, one wearing the continental uniform of 1775 with a musket, and the other in modern-day camouflage uniform holding an M4 service rifle.

Source – Stars and Stripes

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Jubilee Metals face power challenges in Zambia

ByVictoria
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“Over the past quarter, we have experienced significant challenges in our Zambian operations brought on by a combination of extraordinary circumstances outside of our direct control. We have addressed the power supply challenge by entering into an additional power supply agreement that sources power across a broader generation network to avoid localised exposure to network instabilities and a single power generation plant,” said Leon Coetzer the CEO of Jubilee Metals

Copper run-of-mine (ROM) and in process stock for Jubilee also increased sharply, reaching 1.21 million tons containing an estimated 8 466 tons of copper units now earmarked for future processing.

Source – Business Report

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Florida Senator Proposes Bill To Recognize Gold, Silver, And Digital Currency As Legal Tender

ByVictoria
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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

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Clive Thompson says the elite are the ones buying gold

ByVictoria
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 “Over the last 12 months, the value of their reserves or the value of the gold in their reserves was five times the amount by which their reserves increased,” Thompson stated, emphasizing the significant shift in China’s gold holdings.

Thompson also highlighted the unique dynamics of the silver market. “We’ve seen year after year the volume of silver… being produced by the mines going down,” he explained.

Source – The Jerusalem Post

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Gold, silver prices plummet in US Fed cuts

ByVictoria
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“Gold fell sharply post-Federal Open Market Committee (FOMC) meeting as the Fed’s indication of a slower pace of interest rate cuts than previously estimated for the next year,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

Silver quoted 2.47 per cent lower at USD 29.98 per ounce in the international markets.

“Investors are anticipating US weekly unemployment claims data to be released later on Thursday to assess the strength of the labour market, while focusing on the Personal Consumption Expenditures (PCE) price index data on Friday,” Abans Holdings’ Chief Executive Officer Chintan Mehta said.”

“We expect gold prices to rise further, but any delay in additional interest rate cuts could lead to short-term declines, creating opportunities for accumulation, Mehta said.”

Source – Press Trust of India

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