Gold
Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.
Silver
Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.
Platinum
Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.
Source – FXEMPIRE
In a complaint filed in Boone Circuit Court on March 27, the same day the legislation was delivered to the secretary of state’s office, an online bullion exchange and three Northern Kentucky residents said they and others are owed refunds on taxes improperly collected for their precious metals in the past eight months, naming Gov. Andy Beshear and several state offices as defendants.
The state representative, a frequent foil to Beshear who told colleagues in the House he sponsored the bill to ensure Kentuckians do not “pay taxes that were never lawful in the first place.”
HB 2 ensures the sale, use, storage or other consumption of “bullion currency” — gold, silver, platinum and other precious metals — cannot be taxed, overriding a line-item veto by Beshear that was included in a separate bill passed in 2024.
HB 2, which was filed in January and approved on party-line votes in the House and Senate, allows anyone who paid taxes on gold and silver after that Aug. 1 deadline to seek a refund in court.
Source – Courier Journal
Stocks recoiled on Wednesday, while safe-haven gold held near record highs as a nervous world awaited details of U.S. President Donald Trump’s tariff plans and investors fretted about the risks of an intensifying global trade war.
“Whatever’s announced today, I doubt very much will be the framework that’s in place in, say, nine months’ time because we know there’ll be negotiations around this,” Daiwa Capital economist Chris Scicluna said.
“It’s very difficult to predict with any confidence what the ultimate impact is going to be, whether broadly, economically, in terms of rates or in terms of stock markets,” he said.
“Investors are hoping for some clarity, and perhaps the start of the deal-making phase. But tariffs are already weighing on business sentiment, and this will probably feed through into lower global economic activity in the coming months,” said Ben Bennett, Asia-Pacific investment strategist at Legal & General Investment Management.
Source – Reuters
Saudi Arabia’s Manara Minerals is looking for critical minerals projects in Zambia to invest in, the southern African country’s mines minister Paul Kabuswe told Reuters on Thursday.
“They (Manara) are interested, but we do not know which ones yet,” he said on the sidelines of a mining conference in Riyadh, adding that an announcement on a potential mining deal between Zambia and Saudi Arabia is likely this year.
“We no longer want those agreements where we have 10% or 15%,” he said, adding that the government is also holding talks with Barrick Gold, Ivanhoe Mines and Chinese investors on their plans for new projects.
Source – Reuters
“Codelco remains a good option to grab some extra spread over sovereign bonds.”
Copper futures are up about 15% this year in New York, although part of that is due to an up-tick in buying ahead of possible tariffs.
“Good governance and high copper prices should be good for bonds. Codelco is interesting.”
Source – Bloomberg
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2024.
Paul Andre Huet, Chairman and CEO, commented: “At Americas Gold and Silver we have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.”
Source – The Globe and Mail
Gold is on a tear, hitting a record high in New York on Monday at almost $3,150 an ounce to bring the rise this year to 19%.
Analysts at Bank of America think gold could hit $3,500 an ounce if demand increases by 10%.
“Uncertainty around Trump Administration trade policies could continue to push the dollar lower, further supporting gold prices near-term. In our view, a broad rebalancing of America’s twin deficits could be bullish gold too.”
Source – Markets Insider