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Comex gold inventories see sharp rise since Trump’s victory; silver gains

“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

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    Copper safe from tariffs

    The red metal, along with pharmaceuticals, semiconductors and lumber, earns an exemption from “reciprocal” tariffs on most goods entering the U.S.

    Referred to in a White House fact sheet as “responsive tariffs,” President Trump spells out the rationale for and specific examples of other nations’ tariffs in that April 2 fact sheet, fully titled “Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security.”

    “Some goods will not be subject to the Reciprocal Tariff”

    “Copper, pharmaceuticals, semiconductors and lumber articles”

    Source – Recycling Today

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    Gold prices still going strong

    We believe the demand is across the board. We see institutions either adding to or establishing long term strategic asset allocation type positions. We see individual investors doing the same. We see a certain amount of FOMO. There’s a fear of missing out whenever the price gains momentum to the upside” George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, told FOX Business.

    Source – FOX News

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    Peter Schiff talks Silver

    Renowned economist and gold advocate Peter Schiff has issued a bold new call: silver is about to break out – and fast. In a tweet posted earlier today, Schiff highlighted that silver has outperformed gold for two consecutive days, closing at $33.40 and touching an intraday high of $33.50.

    “Silver is the most underpriced hard asset on the planet. While gold protects wealth, silver could build it during the next financial reset.”

    Source – The Jerusalem Post

    Peter Schiff – is an American stockbroker, financial commentator, and radio personality. He is the author of How an Economy Works and Why It Crashes.

  • Securing Your Retirement NOW with a Precious Metals IRA

    Did you know that during the 2008 financial crisis, while the S&P 500 dropped by 38.5%, gold prices increased by 5.5%? This stark contrast highlights why more people are turning to precious metals IRAs to diversify their retirement portfolios. There’s never been a more critical time to consider this powerful retirement strategy.

    Let me share something that might surprise you: many people don’t realize that they can hold physical gold, silver, platinum, and palladium in their retirement accounts! Whether you’re worried about inflation, market volatility, or simply want to diversify your retirement savings, a precious metals IRA could be your answer.

    Holding precious metals is what I’m doing to put into an IRA for my future. There are more and more people, of all ages, that are thinking or doing this or are already doing this. It’s never to late and again in these uncertain times so it’s wise to start thinking ahead.

    Let’s dive into everything you need to know about securing your retirement with this unique investment vehicle.

    What Is a Precious Metals IRA?

    A precious metals IRA, also known as a gold IRA, is a specialized individual retirement account that allows you to hold physical precious metals as part of your retirement portfolio. I remember when I first learned about these accounts – I was honestly skeptical! But after seeing how they’ve helped protect peoples wealth during market downturns, I became a true believer.

    • Operates similarly to traditional IRAs but holds physical precious metals
    • Offers the same tax advantages as conventional IRAs
    • Requires a specialized custodian who handles storage and compliance
    • Follows specific IRS regulations regarding metal purity and storage
    • Can be established as traditional or Roth IRA

    Eligible Precious Metals for Your IRA

    Let me tell you about a mistake I realized when I started doing research about gold IRAs. I was looking to purchase some beautiful collectible gold coins for a future IRA, not realizing till later, that it wouldn’t qualify! The IRS has strict requirements about which metals can be included in your precious metals IRA.

    • Gold must be 99.5% pure (except American Gold Eagles)
    • Silver must be 99.9% pure
    • Platinum must be 99.95% pure
    • Palladium must be 99.95% pure

    Approved coins and bullion include:

    • American Eagle coins (gold, silver, platinum)
    • Canadian Maple Leaf coins
    • Austrian Philharmonic coins
    • Australian Kangaroo/Nugget coins
    • Several types of bars and rounds meeting purity requirements

    Setting Up Your Precious Metals IRA

    The setup process is actually simpler than most people think! As I am learning it seems overwhelming but it’s actually quite straightforward when broken down.

    Choose a Custodian

    • Research reputation and track record
    • Compare fees and services
    • Check customer reviews and ratings
    • Verify IRS approval status

    Fund Your Account

    • Roll over existing retirement accounts
    • Make new contributions
    • Transfer from another IRA
    • Consider contribution limits

    Select Your Metals

    • Work with approved dealers
    • Choose eligible products
    • Consider diversification strategy
    • Review premium over spot prices

    Storage Requirements and Options

    Here’s something that will surprise many of us – you can’t keep your IRA-held precious metals in your home safe! The IRS requires specific storage arrangements, and getting this wrong can result in painful tax consequences.

    • Must use IRS-approved depositories
    • Segregated or non-segregated storage options
    • Regular auditing and insurance requirements
    • Geographic location considerations
    • Security and access protocols

    Tax Benefits and Considerations

    One aspect I have grown to like about precious metals IRAs is their tax advantages. Just like traditional IRAs, they offer powerful tax benefits that can help accelerate your wealth building.

    • Tax-deferred growth potential
    • Possible tax deductions for contributions
    • Roth IRA options available
    • Required Minimum Distribution (RMD) rules
    • Early withdrawal penalties and exceptions

    Costs and Fees to Consider

    Let’s talk money – because understanding the full cost structure is crucial for making an informed decision. I encourage everyone to look beyond just the obvious fees. *these may or may not be subject to change*

    • Setup fees ($50-$300)
    • Annual custodian fees ($75-$300)
    • Storage fees (0.5-1% of assets annually)
    • Transaction fees for buying/selling
    • Insurance costs
    • Dealer premiums over spot prices

    Investment Strategies and Portfolio Allocation

    Through research, I’ve learned that successful precious metals IRA investing isn’t just about buying gold – it’s about strategic allocation and understanding your goals.

    • Recommended allocation percentages (typically 5-15% of portfolio)
    • Rebalancing strategies
    • Market timing considerations
    • Long-term vs. short-term planning
    • Risk management techniques

    Conclusion

    Securing your retirement with a precious metals IRA can be a smart move in today’s uncertain economic environment. Whether you’re looking to protect against inflation, diversify your portfolio, or simply add a tangible asset to your retirement savings, a precious metals IRA offers unique advantages worth considering.

    Remember, the key to success is working with reputable custodians, understanding the rules and requirements, and maintaining a balanced approach to your overall retirement strategy.

    Consider speaking with a financial advisor to determine if a precious metals IRA aligns with your retirement goals and risk tolerance. It never hurts to ask questions it will only benefit you.

    Ready to take the next step? Start by researching IRS-approved custodians and comparing their services and fees.

    Your future self might thank you for taking this important step toward securing your retirement!