Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year.
Source – Daksh Grover / Reuters
Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.
Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).
“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.
Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.
Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.
Source – Reuters
“The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand, and with global growth concerns (tariff and cycle related) set to raise ETF and OTC investment demand,” Citi stated in a note.
“We expect gold to continue to rise as a hedge against growth and other risks, including actual and perceived rising growth risks, including trade wars, still-high interest rates weighing on growth, continued deterioration in the U.S. labor market, ex-U.S. currency devaluation risks, and potential U.S. equity drawdown risks,” the bank noted.
Source – Reuters
A bevy of tariff headlines this week along with geopolitical worries has left investors wary and weary, taking stocks lower in Asian hours, gold to a record peak and the yen to its highest in over two months as sentiment remains fragile.
The risk-off mood meant the yen – already underpinned by rising odds of the Bank of Japan hiking rates again – was the main mover among currencies, hitting its highest level since early December and was last at 150.48 per dollar.
Both Citi and Goldman raised their target price on gold this month, predicting it to breach the $3,000 mark. A large part of the reason behind the bullishness is sustained demand from central banks. Perhaps in these uncertain times, gold is all that shines.
Source – Reuters
“We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.
“We hope everything is fine with Fort Knox, but we’re going to go into Fort Knox, the fabled Fort Knox, to make sure the gold is there.”
“If the gold isn’t there, we’re going to be very upset,” Trump said.
Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., visited the vaults in 2017. They reported that, despite various conspiracy theories, the gold was present.
Source – FOX News
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) based in Halifax, Nova Scotia, focused on Developing Production at the El Tigre Silver Mining District in Sonora Mexico, today announced that Glenn Jessome President & CEO, will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 13th, 2025
DATE: February 13th
TIME: 1:00pm EST
www.virtualinvestorconferences.com
Source – Markets Insider
What are goldbacks? Well I’m happy you stumbled upon my blog to learn more about this amazing and innovative way to pay for goods and services with actual gold.
This isn’t paying with gold coins or bars but actually paying with gold bills. These bills contain gold within them and are measured on the bills itself. Gold foil if you will.
These bills are gold and have the amount of gold listed on the front of each bill from 1/2000th of a troy ounce to 1/10th of .999 fine gold (24k gold). They are beautifully decorated with art work from the Goldback artists and an added combination of anticounterfeiting features within each bill.
There are currently (as of 2025) 6 states with representation on these bills. Those states include Utah, Nevada, New Hampshire, Wyoming, South Dakota, and Florida. Florida is the newest goldback series for this year. The bills start at 1/2, 1, 2, 5, 10, 25, 50, and 100 gold bills.
I do not yet have any of the Florida or South Dakota goldbacks but I’m in the process of purchasing and I really can’t wait to have them.
As of this posting, Oklahoma will be available for preorder Aug. 1st, 2025 at various online sellers. If you’re lucky to find a vendor who is actually selling the goldbacks in person, pick them up! That’s how I learned about these, from a seller at a coin show.
Well that’s a great question! Some could argue that getting these bills is not worth purchasing because you can’t spend these anywhere you want. Or, why are you buying such a small amount of gold when you can get gold bars for a much higher trade in value?
These bills are apart of the sound money movement. Sound money means it recognizes the value in gold and silver not paper fiat. Which is basically saying that paper money does not hold value like gold. For many investors, this is a real concern and is why this movement is a big deal during these economic times.
So why should you buy goldbacks? Goldbacks, like gold, retain their value and give you more purchasing power. While these have a very small amount of gold on each bill the form factor makes it easy to use your gold for everyday purchases.
On their website they say that goldbacks are “The currency for now, Currency for the future.” I for one am very into the idea of this being a great way to use my gold for purchases and my currency. Unfortunately, this cannot be used anywhere……Yet!
As you just read, you cannot use these anywhere. Which is the biggest con but only for now. But they is much more to it than just spending.
The pros:
The cons :
I feel that the pros outweigh the cons as the pros are more valuable when it comes to owning these bills. Storage and higher premiums are not that big of a deal to me. I wouldn’t not take care of my investments and I expect to pay a certain price when buying from someone anyway. Just like silver rounds. But that’s a different topic.
In my opinion, I will not tell you to go and do something unless you feel it’s the right option for you. I believe it is worth it for those that appreciate all forms of gold and ways to spend their investments in person and upfront. This might also be right up your ally to collect these bills as they are absolutely beautiful and stunning to look at and hold in your hand
These goldbacks are still very new. They just started in 2019. I think that this will go a long way but we don’t know how long these will last. There are more and more small businesses that are accepting these as payment and that’s a good sign.
I will continue to purchase these and add to my portfolio and, as I said in previous posts, would actually use these if ever I needed or had the opportunity to do so. Even with some cons to these bills they won’t stop me or many others who are currently investing.
Make sure to do more research if you’re on the fence. Talk to dealers, get some reviews, and look up the website for more info here.
*Disclaimer: I have not received any payment, products, services, or other compensation for discussing this topic. My comments reflect my personal views only.*
