Silver

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

Spot gold was down 0.4% at $3,101.01 an ounce, as of 0710 GMT. Still, bullion was on track for a fifth consecutive weekly gain, buoyed by its safe-haven appeal that aided gold to reach three record highs this week.

“Gold tends to rally amid difficult-to-price uncertainty – like the start of a war – but tends to lose that support once markets learn how to price the risks involved,” said Ilya Spivak, head of global macro at Tastylive.

“The Trump administration seems to have picked a road, and while sentiment clearly doesn’t like it, at least the path of least resistance is more visible and easier to price. That is trimming some of gold’s “market confusion” premium.”

Spot silver declined 1.5% to $31.4 an ounce, platinum lost 0.8% to $944.80, and palladium was steady at $928.33.

Source – Reuters

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.

Gold (XAU/USD) rose sharply during the Asian session on Thursday, reaching $3,126.67, as global markets reacted to renewed trade tensions. 

Silver (XAG/USD) is trading at $33.28, having touched a session low of $33.07. Despite gold’s upward momentum, silver’s response has been more restrained, weighed down by its industrial use case.

Source – FX EMPIRE

On April 1, 2025, 24 carat gold is priced at ₹89,330/10 gm, according to data on the Indian Bullion Association (IBA) at 10.15 am. Further, 22 carat gold is priced at ₹81,886/10 gms. Gold bullion prices have remained steady over the past 24 hours.

Silver meanwhile, is priced at ₹1,01,200/kg (Silver 999 Fine) at 10.15 am on April 1, according to the IBA website. On the MCX index, the price of Silver has increased by ₹834 to ₹1,00,899/kg.

Source – Live Mint

Closing rates for silver and gold in Mumbai show significant valuations, with silver priced at Rs 99,641 per kilo, standard gold (99.5 purity) at Rs 90,750, and pure gold (99.9 purity) at Rs 91,115.

Source – Devdiscourse