Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.
Source – Seeking Alpha / SchiffGold
President Donald Trump on Wednesday said the White House was “very busy” crafting its trade policy as the clock ticks down on his self-imposed August 1 deadline. At that point, America could fundamentally reshape the way it does business around the world.
Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.
Trump said the agreement, if completed, would include developing Pakistan’s oil reserves with a yet-to-be-named oil company.
Source – CNN
Source – Money Metals
“We’ve interdeveloped or interwoven cleanup of these legacy impacts with modern, responsible mining activity,” Mckinsey Lyon, spokesperson for Perpetua Resources, told the Idaho Statesman. “And we’ve done that because we’re so serious about our commitment that we can leave this place better.”
“Perpetua has a really glamorous vision for what the site is going to look like afterwards, and I hope that’s successful,” John Robison, public lands and wildlife director with the Idaho Conservation League, told the Statesman. “I don’t see that from the mine plan.”
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Perpetua’s president and CEO, said in a statement. “The Stibnite Gold Project can deliver decisive wins for our communities, the environment, the economy, and (U.S.) national security.”
Source – Idaho Statesman
Newmont, the Colorado-based gold miner, was one of the worst-performing stocks in the S&P 500SPX+0.52% Friday as the price of gold slumped from its June record high.
Newmont stock, meanwhile, has risen 59% this year as of Thursday’s close, and competitors like Barrick Mining and Agnico Eagle Mines have also seen their share prices soar.
Source – Barron’s
Gold touched a more than one-week low on Thursday after a U.S. federal court blocked President Donald Trump’s “reciprocal tariffs”, dampening the metal’s safe-haven allure, while a robust dollar further pressured prices of the precious metal.
Spot gold was down 0.5% at $3,273.37 an ounce, as of 0431 GMT, after hitting its lowest since May 20.
But the gold market is still bullish as “longer term outlook suggests a weaker dollar and there’s still likely to be some inflationary pressures near term,” Frappell said.
Spot silver rose 0.6% to $33.19 an ounce, platinum was up 0.6% to $1,080.90 and palladium edged 1.3% higher to $974.69.
Source – Reuters
As many countries mine for their gold and help their economies in the process, the United States is not the number country in gold.
According to Luciano Duque, chief investment officer of C3 Bullion, China leads global gold output — followed by Australia, Russia and Canada before the U.S. rounds out the top five. -Source https://www.msn.com/en-us/money/markets/where-does-the-us-rank-among-the-worlds-gold-producers/ar-AA1w1PiK?ocid=socialshare
There are many benefits to gold and as every day passes it’s growing in price and demand. Many investors will be looking out at the production and where it’s expanding.
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