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Fed’s Hawkish Stance Pressures Gold Prices

ByVictoria

Gold prices dipped on Monday as thin holiday trading kept momentum in check. After last week’s sharp decline, gold is attempting to recover but faces resistance between $2607.25 and $2607.35. A breakout above $2629.13 is possible, but traders will need stronger volumes to drive further gains—something unlikely until after the New Year.

Treasury yields edged slightly higher to start the week, with the 10-year yield rising to 4.536% and the 2-year yield ticking up to 4.325%. Yields jumped last week following the Fed’s policy update but eased on Friday after softer-than-expected inflation data. The dollar held steady as markets processed the Fed’s outlook for 2025.

Source – James Hyerczyk / FXEMPIRE

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    Customer wait times on mint coins addressed

    ByVictoria
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    In less than five hours June 13, collectors and the public at large placed sufficient orders to exhaust the maximum authorized mintage of 100,000 Proof 2025-W American Eagle, 250th Anniversary United States Army privy-marked 1-ounce silver dollars,  launched for sale at $105 per coin.

    The remaining 90,000 available for the June 13 sales launch were sold within five hours.

    “Almost immediately, we became aware of concerns regarding the wait times customers in the waiting room were receiving, with some customers initially receiving estimates of 8 hours to ‘more than a day.’ We also encountered issues with payment processing, which were exacerbated by bots and people trying to avoid the household order limits.

    For the waiting room, the Mint is looking for ways we can improve this customer experience. The waiting room looks at current traffic trends when calculating wait times.

    Source – Coin World

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    Apollo Silver Outlines 2025 Calico Work Program

    ByVictoria
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    VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.

    Source – Globe News Wire / Yahoo Finance

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    Gold spot fell and investors waiting for data on Friday

    ByVictoria
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    Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

    “Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

    Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

    Source – Reuters

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    Gold Holds Near Record, Silver rallied

    ByVictoria
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    Silver climbed as much as 3.1% to exceed $33 an ounce, while gold headed for a seventh weekly gain — the longest run since August 2020.

    The president has already imposed 10% levies on Chinese goods and plans to slap 25% duties on all US steel and aluminum imports next month.

    Spot silver rose 2.9% to $33.284 an ounce by 1:20 p.m. in London, taking this week’s gains to 4.6%. The Bloomberg Dollar Spot Index fell 0.2%. Gold, platinum and palladium were little changed.

    Source – Bloomberg

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    Idaho House Bill 40 to end taxes on gold and silver

    ByVictoria
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    Idaho yesterday formally ended state income taxes on gold and silver as part of its largest tax cut in state history.

    House Bill 40, sponsored by House Speaker Mike Moyle and begrudgingly signed by the state’s liberal Republican governor Brad Little, provides a sweeping $253 million income tax cut for Idahoan taxpayers by lowering the rate from 5.695% to 5.3% while also adding two specific exemptions.

    Moyle said today, “I’m proud to help secure another $253 million in income tax cuts for Idaho families. Meanwhile, it makes no sense for Idaho to tax gold and silver, the only money mentioned in the U.S. Constitution.”

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