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Gold and gold futures up, Silver down 0.7%

ByVictoria

Gold prices rose on Friday as investors turned to the safe-haven asset after United States President Donald Trump imposed fresh tariffs on a broad range of countries, while the market’s focus shifted to the U.S. non-farm payrolls report.

Spot gold was up 0.3% at $3,299.54 per ounce, as of 1119 GMT. However, bullion is down 1.4% so far this week.

U.S. gold futures rose 0.1% to $3,351.40.

“The incoming US jobs report may also trigger another big move for gold. Another demonstration of resilience by the U.S. jobs market could send gold southbound towards $3,200,” Han Tan, chief market analyst at Nemo.Money.

Spot silver fell 0.7% to $36.49 per ounce, platinum lost 1.6% at $1,269.27 and palladium was down 1.7% at $1,170.35.

Source – Reuters

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    Washington State No Longer Tax Free for Gold & Silver

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    January 1, 2026, a significant regulatory shift took hold in Washington State, fundamentally altering the landscape for physical metal investors. The implementation of Engrossed Senate Substitute Bill (ESSB) 5794 officially repealed the state’s long-standing sales tax exemption on precious metal bullion and monetized coins. For the first time since 1985, residents in the Evergreen State must now pay a statewide 6.5% sales tax—plus local surtaxes that can push the total levy as high as 10.6%—on every ounce of gold or silver they acquire.

    The most immediate losers of this policy shift are the brick-and-mortar dealers within Washington State. Historically, these businesses drew customers from across the Pacific Northwest, but they now face a stark competitive disadvantage against neighboring Oregon, which has no sales tax, and Idaho, which maintains its bullion exemption.

    Source – Financial Content

    Devastating to learn that Washington’s 40 years of no tax on gold and silver has taken effect this year. We are in March now since this has started but what a shame for this to have happened. I hope all businesses stay strong and speak to those who can help change this tax law back to the way it was. Good luck!

    -V.

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    Augusta Gold Corp. $1.70 per share

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    Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (“Augusta Gold” or the “Company”) is pleased to announce that it has entered into a definitive merger agreement (the “Agreement”) with AngloGold Ashanti plc (“AngloGold Ashanti”) and certain of its affiliates, pursuant to which AngloGold Ashanti will acquire all of the Company’s issued and outstanding shares of common stock at a price of C$1.70 per share of common stock (the “Price”) in cash (the “Transaction”).

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    Singapore being used by the “ultra-wealthy”

    ByVictoria
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    The ultra-wealthy are increasingly moving their gold offshore as economic and geopolitical uncertainty roils markets — and Singapore is emerging as a favored destination.

    Not far from the city-state’s airport sits a six-story facility covered in onyx and fortified by tight security. Tucked behind its steel doors are gold and silver bars amounting to about $1.5 billion.

    “A lot of very high net worth clients are looking at tariffs, looking at the world changing, looking at the potential of geopolitical instabilities,” Gregersen told CNBC. 

    “The idea of putting physical metal in a safe jurisdiction like Singapore with parties they can trust is becoming a big trend nowadays,” he said, adding that 90% of the new orders are coming from outside of Singapore.

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    Precious Metals with highs and pressure

    ByVictoria
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    Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.

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    JSW Group plans copper smelter by 2028-2029

    ByVictoria
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    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.

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    Source – Reuters