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India admits miscalculations on gold for months

ByVictoria

The Ministry of Commerce and Industry said in a statement Thursday it revised import figures from April to November after discovering the discrepancy, which had resulted from migrating to a new data transmission system.

The miscalculation led to a four-fold increase in gold imports to a record $14.8 billion in November, causing the trade deficit to widen to $37.8 billion.

Preliminary revisions show gold imports were $37.39 billion in the April-November period, down $11.7 billion from previously reported.

Source – Bloomberg / Live Mint

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    ByVictoria
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    The U.S. will soon be flooded with massive amounts of copper shipments in a global rush to front-run President Trump’s probable tariffs, with 100K-150K metric tons of refined copper expected to arrive in U.S. ports in the coming weeks, which potentially would surpass the all-time record of 136,951 tons set in January 2022, Bloomberg reported Wednesday.

    Goldman Sachs analysts said they expect all forms of copper shipped to the U.S. to be hit with tariffs by year-end, keeping Comex prices at a hefty premium over other benchmarks, and noted that tariffs could cause China to refine 10K-20K tons/month less copper within the first three months – in a global market that Goldman already expected to face a 180K-ton deficit this year.

    Source – Seeking Alpha

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    Silver eagles to honor U.S. Army

    ByVictoria
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    A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.

    As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted  to three coins during the first 24 hours of sales, after which the limit will be lifted.

    The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.

    Source – Coin World

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    Trump to make sure Fort Knox gold is there

    ByVictoria
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    “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

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    January 6th bronze medals

    ByVictoria
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    Despite the U.S. Mint’s removal from its website of bronze duplicate versions of the congressional gold medal recognizing law enforcement that protected the U.S. Capitol during the Jan. 6, 2021, assault, orders for the two sizes of bronze medals may still be placed from the nation’s coin producer.

    Source – Coin World