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
“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
First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.
I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.
I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.
One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.
“You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis
The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.
“There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.
Source – Arizona Republic
I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.
It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!
“Gold fell sharply post-Federal Open Market Committee (FOMC) meeting as the Fed’s indication of a slower pace of interest rate cuts than previously estimated for the next year,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
Silver quoted 2.47 per cent lower at USD 29.98 per ounce in the international markets.
“Investors are anticipating US weekly unemployment claims data to be released later on Thursday to assess the strength of the labour market, while focusing on the Personal Consumption Expenditures (PCE) price index data on Friday,” Abans Holdings’ Chief Executive Officer Chintan Mehta said.”
“We expect gold prices to rise further, but any delay in additional interest rate cuts could lead to short-term declines, creating opportunities for accumulation, Mehta said.”
Source – Press Trust of India
Asian and European shares were mixed to weaker in trading overnight. U.S. stock indexes are set to open higher on corrective bounces following Friday’s big sell offs.
German stocks rose as investors cheered a win by German conservative leader Friedrich Merz in Sunday’s elections.
The Euro zone January consumer price index came in at up 2.5%, year-on-year, which was right in line with market expectations.
Source – KITCO News
Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity crises if the value of the precious metal slides, BMI, a unit of Fitch Group, said on Wednesday.
Ghana, Tanzania and Nigeria have been buying gold domestically to beef up their reserves, BMI said, a move accelerated by this year’s broader market volatility stoked by U.S. trade tariffs and other geopolitical risks.
Policymakers in Kenya and Uganda are exploring a move into gold, Rwanda and Namibia have taken active steps towards adding the metal into their reserves.
Governments could also struggle to convert their gold holdings into liquid assets like hard currencies, Gard said, pointing to India and Argentina when they faced acute balance of payments challenges in the 1990s and 2000s, respectively.
Source – Reuters
Anglo American said it does intend to sell the remainder of its retained shares over time, and said that it will not hold any representation on the Anglo American Platinum board after the split.
Source – Morning Star