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Gold fell, Silver up, Platinum up 1.7%

Gold prices edged lower on Thursday, weighed down by easing geopolitical tensions in the Middle East and continued uncertainty over the Federal Reserve’s interest rate trajectory.

Spot gold fell 0.5% to $3,316.47 per ounce, as of 0933 a.m. EDT (1333 GMT). U.S. gold futures slipped 0.4% to $3,329.20. 

Palladium lost 2.5% to $1,084.41. Platinum climbed to its highest level since September 2014, adding 1.7% to $1,377.62.

Spot silver was up 0.2% to $36.39.

Source – Reuters

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    At 0728 GMT, the rand traded at 18.2375 against the dollar, about 1.1% stronger than its previous close.

    Gold prices touched an all-time high on Monday as investors stressing over a global trade war and economic slowdown from the world’s biggest economy turned towards the safe-haven asset. South Africa is a major producer of the precious metal.

    Source – Reuters

  • Arizona “Copper State”, growing demand for ore raises fears to locals

    First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.

    I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.

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    News!

    One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.

    “You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis

    The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.

    “There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.

    Source – Arizona Republic

    Would you like to see more?

    I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.

    It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!

  • Man denies knowing gold was from stolen £4.8m toilet

    A man has denied knowing gold he was trying to help someone sell came from a golden toilet stolen at Blenheim Palace.

    Fred Doe admitted putting James Sheen, who has previously pleaded guilty to stealing the toilet, in touch with gold dealer Bora Guccuk but said he would “never in a million years” have dealt with him if he had known it was stolen.

    Mr Jones, 39, from Oxford, Mr Doe, previously known as Frederick Sines, 36, from Windsor, and 41-year-old Mr Guccuk, from west London, have all pleaded not guilty to the charges they face.

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    The trial is still ongoing. Wow! And the “jurors heard the toilet was most likely broken up and has never been recovered.” How will they prosecute these thieves? Will they get prosecuted? Do they have enough evidence? So many questions! I’ll keep this updated. – V.

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    Copper price forecast

    The EV industry in China and the world is already booming; pumping copper’s status as “the new oil”. As such, the red metal is set to rise above the current uncertainties to record significant gains in the medium to long term.

    Copper has also jumped above the 50-day moving average, while the Relative Strength Index (RSI) has continued rising. Therefore, it will likely rebound and retest the key support at $5 in the coming weeks.

    Source – Invezz

    More Info!

    RSI (Relative Strength Index) – is a technical indicator intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.

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    Missouri passes bill on gold and silver

    The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions

    The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.

    “The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.

    Source – Just The News