Update to Gold and Silver Specie as Legal Tender
Source – www.flsenate.gov
Effective day : 7/1/2025
Is this going to happen? Is this bill passed and will be in affect July? If anyone know please comment as I cannot find much info on this except that this was posted 4 days ago. -V.
Gold has benefited from geopolitical uncertainty and central bank demand, but a prolonged period of restrictive Fed policy presents risks.
Source – FXEMPIRE
Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.
“The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.
Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.
Source – Reuters
India’s steel-to-power conglomerate JSW Group plans to set up a 500,000 metric ton capacity copper smelter in the eastern state of Odisha by 2028/29 with feedstock of copper concentrate from Peru and Chile, a source directly aware of the matter told Reuters on Thursday.
JSW plans to feed its planned electric vehicle and battery manufacturing facilities with the copper produced at the smelter, the source added. Some of the concentrate supply will come from Hindustan Copper, the source said.
Source – Reuters
A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.
“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”
Source – Idaho Statesman
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
NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.
New Gold’s copper production was at 14.5 million pounds for the fourth quarter, up 20% year over year. The annual copper production totaled 54 million pounds, within the company’s guidance of 50-60 million pounds.
The New Afton mine produced 19,652 ounces of gold and 14.5 million pounds of copper in the fourth quarter. Gold production increased 19% and copper production rose 15% from the third quarter of 2024. The B3 cave performed per expectations.
Source – Zacks
