Spot gold was up 2.2% to $3,299.85 an ounce as of 1107 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3% to $3,315.80.
“Trump’s trade war shows no signs of easing… sparking a fresh move towards safe havens and out of stocks,” said Ole Hansen, head of commodity strategy at Saxo Bank.
Spot silver rose 2% to $32.94 an ounce, platinum was up 0.1% to $960.85, and palladium gained 0.6% to $977.09.
Source – Reuters
The 20-coin 2025 Uncirculated Coin Set is slated for sale to the general public by the United States Mint beginning at noon Eastern Time July 17.
The sets are offered at $33.25 each, with a maximum output of 190,000 sets, offered without household order limits.
Each set contains two separate blister-pack folders of 10 coins each, one pack apiece from production at the Philadelphia and Denver Mints. Coins included in the set have an Uncirculated finish but are struck to higher standards than their circulating counterparts.
Source – Coin World
Shares in the gold miner are currently swapping hands at $76.60 apiece, more than 2% higher from the open as investors process the numbers.
2024 was a transformational year for Newmont, as we focused on the integration of the Newcrest portfolio, divestment of our non-core assets, and transitioning the business onto a stable operating and investment platform.
We have deliberately streamlined Newmont into the world’s best collection of Tier 1 gold assets, with a strong foundation of operational and financial performance. Our record fourth quarter gave a glimpse into the promising potential of the business and allowed Newmont to deliver record operating cash flows.
Source – The Motley Fool
The company’s stock has shown impressive momentum, delivering a 42% return over the past year according to InvestingPro data.
InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $3.25 to $3.77, suggesting significant upside potential.
Source – Investing.com
The second-largest consumer of gold in the country is India, after China. The country meets majority of its demand for gold through imports, along with locally recycled bullion.
Source – ABP News
All cities with gold rates listed in the link
A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.
Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”
The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.
“We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”
Source – The Associated Press
Praying for these people to be rescued. -Victoria
This is revolving a bit around politics but hey we need to stay with the times when we look at our investments and retirement interests. Our investments DO revolve around what the world is going through and we need to base our decisions on real life real world problems. This is an important part of investing and paying attention to trends if you are so inclined to invest or use or investments in the direction you feel it needs to go.
Let’s stay in tune with what’s going on and learn about today’s topic.
Well, this news happened a couple days ago but it’s still relevant today as things change before we know it!
Currently in Florida, there is an open House seat in District 1. Trump backed candidate Jimmy Patronis wants the Sunshine State to adopt gold and silver as legal tender and has called for a study on the issue.
“Gold and silver have been trusted assets for thousands of years, and it makes perfect sense to use them as legal tender. I’m launching this study to determine the best way to get it done,” Patronis said in a statement included in a press release earlier this week.
For the full article and source https://www.msn.com/en-us/news/politics/trump-backed-candidate-aiming-to-replace-matt-gaetz-wants-florida-to-adopt-gold-and-silver-as-legal-tender/ar-AA1vR6dn?ocid=socialshare
Currently there are 11 states that use gold and silver coins as legal tender Utah being the first state to do so in 2011. This is a great shift we may see as states are either moving towards it or in talks of doing this. The positive for those who live in these states is the capital gains taxes would be eliminated on sales of gold and silver.
For more info and map see source https://worldpopulationreview.com/state-rankings/gold-and-silver-legal-tender-states
