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.
“With a stronger dollar and Treasury yields, it’s hard for gold to continue to move higher,” said Bob Haberkorn, senior market strategist at RJO Futures.
“(Gold) bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,826.30,” Jim Wyckoff, senior market analyst at Kitco Metals, said.
Source – Reuters
The most recent trading sessions have showcased gold’s resilience and volatility. Following a sharp decline of $45 per troy ounce in spot gold and a $63 drop in April futures on Friday, February 14, the market demonstrated strong recovery momentum. After the Presidents’ Day holiday closure, Tuesday’s trading saw spot gold gain $36.97, and the April futures contract gaining $60.70, nearly reaching the record levels established on February 12.
Source – KITCO News / Opinion
Here we will post as often as we can and keep you updated on the site and any news in the precious metals world and of course focus on local businesses.
Look forward to seeing you there and engage with you! If there are any honorable mentions of your own local gold and silver dealers in your area that you’d like to see please feel free to reach out.
Happy Investing!
-V.
Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.
“Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”
The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.
Source – Markets Insider
Spot gold gained 0.5% to $2,946.68 an ounce, as of 1131 GMT
“Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward U.S. Fed rate cut expectations,” Ole Hansen, head of commodity strategy at Saxo Bank, said.
“I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher.”
Spot silver was flat at $33.21 an ounce, platinum lost about 1% to $974.45, while palladium dropped 0.2% to $947.17.
Source – Reuters
Gold (XAU/USD) falls toward $3,270 as weak Chinese demand and mixed U.S.-China trade signals weigh on sentiment.
Silver (XAG/USD) slips to $32.96 amid softer Chinese demand and cautious market mood fueled by trade uncertainty.
Gold defends the $3,270 triple-bottom zone, while silver stabilizes near $32.96.
Source – FX Empire
