Gold prices struggle to hold onto gains after key U.S. data showed inflation picked up in June as expected, potentially signaling companies are starting to pass on tariff costs to consumers. Futures are down 0.1% at $3,357.50 a troy ounce following a 0.5% rise earlier in the session.
Source – The Wall Street Journal
I just want to keep this short because if you’re here then that means you just want to know right away so I will make this short and sweet.
OF COURSE you can buy gold and silver through reputable places that make IRAs for you but if you want to buy your precious metals and keep it safely in your own care then this is for you. I am on your side as I feel that is the easiest way to start before making it into a retirement plan.
I won’t list the IRA places because we already know those so lets do a short list of local places you can find in any state and in person.
I know, I know Walmart. One of the last places in the world I would go and maybe most people would go to buy gold. I was pleasantly surprised to see that they sell grams, bars and coins. Not to mention their jewelry. When I found out that Walmart sold gold bars I got the app right away to check it out. Honestly I’m impressed!
Going on the website you will find that there are lots of options to choose from. The smallest that I have found (in price) is 1/2 a gram of .999 fine gold bar at $73. WOW! You can also buy 1oz gold bars at various prices. All are sold from different distributors going through Walmart but it’s pretty convenient to find and that’s the greatest part about this.
I have also found some gold coins and my personal favorite (besides anything silver) is Goldbacks. The $1 Goldback is the cheapest on the website but you cannot spend everywhere and that topic is for a different post I will do here soon.
Now as far as buying in store and in person you will have to call the locations or select online to pickup in store. Taxes wise, again you will have to call and find out but other than that you can’t argue that’s pretty cool to go through your local Walmart.
For most people (like myself) would never think to go to flippin’ Costco for gold are you kidding me! But recently there have been gold sales at Costco that started in 2023. You can buy the gold but of course you have to be a member to buy. That’s the only downside but it’s easy to get one. If not, maybe you can go in person or online with your family member who does have a membership and purchase that way.
The gold is 1oz 999.9 minted bar. If they are in store you’ll have to find out from the location in your area but you might get lucky and see them there waiting for you. If you’re ordering online it might have a shipping cost and you can only get 2 per 24 hrs. As far as tax, that I am unclear on so please don’t hesitate to give them a call or email before you buy.
(I think I will have to get my membership now just to get this)
We all know (unless you’re not a seasoned investor) there are so many places that buy and sell gold. Well lets just take a moment to talk about these places.
This is probably a 50/50 for most people. Now I have not gone to a pawn shop to purchase gold but they do have gold jewelry and very nice pieces too. I will not say they are all the same because some are very nice and some are not. Remember that when you go the gold will be marked up than elsewhere in price so don’t go in blind but expect a realistic price.
At some pawn shops you may be able to haggle a price or you can trade in your personal gold for some cash. You can always walk out if the dealer doesn’t sell gold at the same or better price you found elsewhere. Generally speaking, many pawn shops will buy your gold and silver between 40 – 60% from the price you paid. So be aware before you go to the pawn shop.
If pawn shops are a maybe don’t worry there are other places to visit. The great thing about this option is that you can trade or get cash and that’s pretty nice.
These stores are not in every city or small town but if you find one you will be pleasantly surprised at what you may find.
Gold and Silver shops will have bars, coins, oz, grams and jewelry. You may also find some notes that will fetch a good price if that’s another form of investment you’d like to dip your toe into.
What’s so great about these shops is that they generally stay around the market price *no tax*. Please take that with a grain of salt. Not all dealers are the same. Talk to them and find out how they do the taxes on gold and silver bullion.
I have given more time to add a very helpful directory dedicated to finding Gold and Silver dealers in your area. There you will find gold buyer, coin sellers and buyers, collectible stores, estate buyers, and more.
Gold is rising and it doesn’t look like its slowing down anytime soon. Silver has shown to be a great hedge to inflation as well with prices getting into the $60 range. This post is to think about buying gold and silver locally, educating yourself gradually as prices constantly shift and give you some options you might not have thought of to look for this particular investment.
Gold and Silver are a great way to hedge against inflation and boost your portfolio. Having it in hand in you own personal safe is a great way to start storing your investments till you’re ready to put in an IRA.
Don’t be afraid to ask questions to any of these dealers in fact it benefits you!
Gold prices firmed on Wednesday as weaker-than-expected jobs data fueled hopes of the U.S. Federal Reserve cutting rates sooner than anticipated, while investors also awaited the upcoming non-farm payrolls report for further cues on monetary policy
Spot gold was up 0.3% at $3,348.60 per ounce, as of 0151 p.m. EDT (1751 GMT). U.S. gold futures settled 0.3% higher at $3,359.7.
Spot silver rose 1.2% to $36.49 per ounce, platinum was up 4.6% at $1,413.40, while palladium gained nearly 5.2% to $1,157.09.
Source – Reuters
Peruvian copper production is expected to remain flat in 2025 for the third straight year, according to the country’s top mining association and industry analysts, as declining ore grades and a lack of new projects cap output.
Peru’s top mining association SNMPE expects the country’s 2025 copper output to hit around 2.8 million metric tons, matching 2023 and what is expected for 2024, as miners contend with poorer-quality resources and development bottlenecks for new projects.
“By 2025, Peruvian copper production is expected to be similar to this year’s expected 2.8 million tons,” said Victor Gobitz, SNMPE’s head, in an interview last week.
Source – Reuters
The silver market has been somewhat sideways over the last few weeks, but the Wednesday session could provide enough information to get people moving again.
Silver fell in the early hours of Wednesday as we have tested the crucial $33 level again. This is an area that of course has been like a magnet for price for some time.
Talks between the United States and China are seemingly a thing now, and that, of course, will help the idea of industrial demand for silver, but it takes away that precious metal trade as well.
Source – FX Empire
“Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”
“You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.
The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.
Source – Bloomberg
Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.
