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Gold sees longest rally since 2020

ByVictoria

“During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”

“Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”

Source – Market Watch

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    Gold – Silver ratio 2025

    ByVictoria
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    The gold-silver ratio was just over 103:1. That means it takes about 103 ounces of silver to buy an ounce of gold.

    This is slightly above the 1991 peak and not too far below the all-time high of 123:1 during the pandemic chaos in 2020.

    Source – Money Metals

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    Gold and Silver to be legal tender in Florida

    ByVictoria
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    Gov. Ron DeSantis signed a bill on Tuesday that would recognize gold and silver as legal tender in the state, paving a path for Floridians to use the commodities in payment transactions.

    The bill, HB 999, starts the process of allowing government or private entities, such as businesses, to voluntarily accept gold and silver as a form of debt payment. The bill also outlines sales tax exemptions on the purchase of the precious metals if they meet the purity requirements or if the sale of the gold or silver exceeds $500.

    HB 999 is set to go into effect on July 1, 2026, if the Florida Legislature ratifies the rules to implement the bill before then.

    “Florida stands firmly for freedom, economic self-determination, and resistance to government overreach,” the governor said. “But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market.”

    Source – Business Insider

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    Ivanhoe Mines Targets Increased Copper, Zinc Production This Year

    ByVictoria
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    The Canadian mining company on Wednesday set a 2025 production target of between 520,000 and 580,000 metric tons of copper at its Kamoa-Kakula operation. 

    Ivanhoe expects to produce between 180,000 and 240,000 tons of zinc at its Kipushi zinc-copper-germanium-silver mine.

    Ivanhoe said that during the last day of the year, a record 750 tons of zinc were produced over a 24-hour period, exceeding the operation’s nameplate capacity.

    Source – Market Watch

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    Chinese users turn to off-exchange to ease supply tightness

    ByVictoria
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    China will import even more off-exchange refined copper this year, according to analysts and traders, as output from the Congo booms and users look to alleviate shortages and head off a potential disruption to supplies of U.S. scrap.

    “The supply of refined copper, including scrap, concentrate, anode and blister, is still tight. We therefore expect higher imports of plentiful refined copper, including EQ copper to partly compensate for this tightness in other raw materials,” Jonathan Barnes, principal analyst at metals research company Project Blue said.

    Source – Reuters

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    Gold prices above $3000 for the second time

    ByVictoria
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    Gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time in a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff policies.

    Spot gold rose 0.2% to $3,006.88 an ounce as of 0525 GMT after hitting a record high of $3,016.92 per ounce earlier in the session.

    “Gold is moving higher on account of a weaker dollar and continued tariff uncertainties… With Gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts,” said Marex analyst Edward Meir.

    Spot silver firmed 0.1% to $33.85 an ounce, platinum added 0.2% to $1,002.50 and palladium rose 0.4% to $968.96.

    Source – Reuters