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Gold in demand, up .1%

ByVictoria

Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

“We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

“Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

Spot silver gained 1.5% to $38.93 per ounce, platinum fell 1% to $1,384.81 and palladium fell 0.7% to $1,208.15.

Source – Reuters

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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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    Gold attracts record 4-week inflows

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    Investors poured another $1 billion into gold in the past week, pushing four-week inflows to a record $9.9 billion, according to BofA Global.

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    Africa’s copper market continues to grow

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    Washington State No Longer Tax Free for Gold & Silver

    ByVictoria
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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 The implementation of Engrossed Senate Substitute Bill (ESSB) 5794 officially repealed the state’s long-standing sales tax exemption on precious metal bullion and monetized coins.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.

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    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.