B2Gold Corp. stock
Source – MSN
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Over the Weekend!
Bitcoin Lags Behind Gold
Bitcoin has gained just over 3% year-to-date, trailing gold’s 9% jump, according to data compiled by Bloomberg. The precious metal reached a record high of $2,882 an ounce after President Trump on Feb. 4 said the US could take over Gaza — a comment his aides sought to tone down. Bitcoin is currently about 10% below its peak.
Source – Bloomberg
Mali gold production plunges 23%
Mali’s industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country’s mines ministry said.
With an estimated 6 tons produced in artisanal mines, Mali’s total gold production in 2024 is expected to reach 58.7 tons, the mines ministry said.
Source – Reuters
Michael Oliver says Gold’s Making All-Time Highs, SILVER To Follow
“I think that once you punch a hole in the stock market… you’re going to have a lot of that money moving,” he predicted, suggesting that a 5-10% drop could trigger a significant shift in investor sentiment, driving capital towards safer havens like gold and silver.
“Silver didn’t move with commodities in moved with gold,” he asserted, countering arguments that silver has lost its monetary significance.
Source – The Jerusalem Post / Opinion
Opinion piece, Gold impacted by panic buying
Some finance experts in Simpsonville said they’ve seen a surge in people investing in gold. They said it follows fears over the economy slowing.
Co-owner of JEHM Wealth and Retirement Eric Lahaie told 7NEWS the value of gold has increased by more than 30 percent in the last six months. He emphasized that it is largely because of panic buying.
“The appreciation is all that you’re going to get out of it. It doesn’t produce a dividend. It doesn’t generate interest like a stock, or a bond will do. So, you don’t get that advantage. And then, as I said earlier, it kind of moves in big jumps, and then flattens out for a long time,” said Lahaie.
“If you buy it in a brokerage account, when you sell gold, your gains are taxed at your ordinary income up to 28 percent,” Lahaie also said. “Versus, if you sell stock, as long-term capital gain, you’re going to be taxed somewhere between 15 and 20 percent on the high end. So, that’s kind of a disadvantage for gold.”
Source – KOLR Springfield
List of 50 exempt items Gold and Silver included
Non-tariff barriers are meant to limit the amount of imports/exports and protect domestic industries. In some relief to consumers globally, the Trump administration has kept some essential items exempt from the purview of these tariffs.
Items exempt from the tariffs levied by Trump include copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, as well as energy and energy products.
Source – GoldSilver Reports
Long list of all exempt items when you go to the website. Hope that helps! – V.
Ready to strike planchets could keep the penny circulating
The inventory of unstruck ready-to-strike cent planchets combined at the Denver and Philadelphia Mints is considered by the Federal Reserve and the U.S. Mint enough to handle production needs for the near future as the mintages wind down, with no more planchets ordered from the lone outside vendor.
The unstruck planchets are also sufficient for striking Uncirculated Lincolns cents at the Philadelphia and Denver Mints for inclusion in 2025 Uncirculated Mint sets and for Proof sets executed at the San Francisco Mint.
Source – Coin World
Gold up 1.7%
Futures are up 1.7% at $3,350.60 a troy ounce and on track for weekly gains of nearly 4%.
“Without a fundamental shift in U.S. fiscal policy, the implications of rising borrowing costs and widening fiscal deficits means the U.S. is on an unstable fiscal policy path, which could lead to heightened market volatility,” says Fawad Razaqzada, analyst at Forex.com.
Source – The Washington Street Journal
Seeking Alpha analyst weighs in on gold
SA analyst World Gold Council stated: “While gold may face some consolidation due to the speed of its latest move, the combination of geopolitical and geoeconomic uncertainty, rising inflation, lower rates, and a weaker US dollar continue to provide powerful tailwinds to investment demand,”
“I recommend buying assets that track the price of gold… Inflation had been on an upward trend, but the lower-than-expected reading in February added more uncertainty to investors. Additionally, recession fears could lead the Fed to cut interest rates. All these uncertainties drive up gold prices,”
Source – Seeking Alpha