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“Incredible demand for physical gold” in New York Markets

ByVictoria

“There is incredible demand for physical gold in New York markets,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com., referring to it as a “physical gold rush.”

“Those who are caught short physical metal are looking around and seeing a window closing here,” he said. They’re “desperately seeking physical metal before the price could jump overnight.”

“Meeting a surge in demand will always stretch capacity, but London vaults have been working overtime to service this London-New York flow,”

Source – Market Watch

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    Silver could still outperform gold in second half of 2025

    ByVictoria
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    “The white metal may get squeezed, as recovering Asian demand absorbs recent inventory builds in the aftermath of the Chinese slowdown and the base metal concentrate processing capacity increases,”

    “We project the metal to average $36/oz in the final months of next year, making it a commodity outperformer as the XAU/XAG ratio challenges yearly lows.”

    “With its low correlation to traditional assets such as equities and bonds, silver offers powerful diversification benefits,” Silver Institute said. “Historically, silver has proven its value during times of economic and geopolitical crises, serving as a reliable hedge against inflation, currency devaluation, and systemic financial instability. In the context of the modern global landscape, this role has become even more pronounced.”

    Source – KITCO NEWS / written by Ernest Hoffman

  • Gold and Silver may be adopted as Legal Tender in Florida

    ByVictoria
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    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!

    News!

    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

    Additional Info

    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

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    Gold higher today rising to .3%

    ByVictoria
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    Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite.

    Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session.

    “There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,” Waterer said.

    Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48

    Source – Reuters

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    Gold in demand, up .1%

    ByVictoria
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    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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    ZiJin Mining boosting gold and copper

    ByVictoria
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    The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028

    “Our stated goal is to become a green, high-tech, leading global company,”

    “By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining

    “We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.

    Source – Kitco NEWS

    ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.