Mayor of Pataz, Peru “Gold is a curse”

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Pataz has become Peru’s largest gold-producing region, in no small part due to artisan or informal mines, which operate under temporary REINFO permits.

“Gold is a curse for Pataz,” the mayor of Pataz, Aldo Mariño, told Reuters.

He said that despite the area’s great mineral wealth, his community lives in poverty, without basic services and on deteriorating or unpaved roads.

“This has been going on for several years, with the difference that now everything has collapsed. It’s due to the absence of the State,” he said. “People continue to die.”

Poderosa has reported the deaths of 39 workers in recent years in attacks on its facilities or small mines that supply it with gold. And in the last four years, 15 of the company’s high-voltage towers have been destroyed with explosives.

Source – Reuters

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Standoff continues for Congo copper mines

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The $1.4 billion bid made by the Chinese defence and industrial giant in June stalled after Congo state miner Gecamines submitted its own unsolicited bid for the Chemaf assets, deepening a standoff that has been complicated by U.S. officials lobbying against China’s grip on the mineral-rich central African Copperbelt.

Norinco has now proposed that the Democratic Republic of the Congo increase its interest in Chemaf’s Mutoshi and Etoile mines to as much as 15% from 5% currently – at no additional cost – subject to negotiations, said the sources, who asked to remain anonymous.

Source – Reuters

More Info!

Norinco – also known as China North Industries Corporation. Within China it is known as China Ordnance Industries Group Corporation Limited

Gold and Silver may be adopted as Legal Tender in Florida

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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 hasn’t moved much, down .01%

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Spot gold was down 0.1% at $2,913.79 an ounce as of 10:04 a.m. EST (1504 GMT). U.S. gold futures rose 0.1% to $2,923.70.

“There’s still buying interest out there now … there’s going to be some measure of caution ahead of Friday’s (payrolls data), but the underlying trend remains favorable,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. 

“If the number comes out really bad, I would imagine gold sells off. If it comes out neutral, I don’t think that’s going to move the needle too much. But if it comes out bullish, then gold takes off and we get pretty quick to $3,000, if not higher than that,” said Daniel Pavilonis, senior market strategist at RJO Futures.

Spot silver advanced 1.2% to $32.36 an ounce and palladium fell 0.4% to $938.22. Platinum gained 0.5% to $965.45.

Source – Reuters

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Macquarie Group predicts gold will reach $3500

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“Year-to-date, gold has been running ahead of our expectations,” Marcus Garvey, head of commodities strategy at Macquarie, wrote on Thursday. 

“We are raising our gold price forecast to a 3Q25 quarter average peak of $3,150 per ounce and our single point price high to $3,500 per ounce,” Garvey wrote. 

“President Trump’s rapid move to announce, if not always to enact, import tariffs has contributed to geopolitical uncertainty and boosted inflation expectations, helping push down front-end real rates and supporting gold in the face of periodic USD strength and initially reduced expectations for Fed rate cuts,” the strategist wrote.

Source – Yahoo Finance

Macquarie Group Limited – is an Australian multinational independant investment bank and financial services company. Headquarters in Sydney, Australia. Listed as ASX

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Is the gold at Fort Knox there?

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Musk has cast doubt on whether the gold remains at Fort Knox, writing on X: “This gold is the property of the American people. I sure hope it’s still there!”

“Who is confirming that gold wasn’t stolen from Fort Knox?” Musk also posted.

Source – ABC News

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Kaiser Reef to acquire Henty gold mine

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Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.

Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.

Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.

“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”

Source – Yahoo! Finance

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