Palladium Prices Jan 9,2025
Source – Money Metals
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Over the Weekend!
The Price Of Gold From 2021-22 Has Long Rejected ‘Bidenflation’
Considering the price of gold throughout 2021, it averaged out to roughly $1,798/ounce, meaning the value of the dollar actually rose around 3 percent right at the time that the economy-sapping tax that is government spending continued under Biden, and allegedly caused “inflation.” To be clear, government spending is the worst tax of all exactly because it substitutes central planning of resources by the government for that of the private sector. Still, it logically doesn’t cause higher prices, or “inflation,” and it didn’t if gold is to be believed.
Source – Forbes
Silvercorp Metals Boosted By El Domo
Silvercorp’s El Domo project in Ecuador is set to boost revenues by 50% when it begins operations and diversify operations reducing jurisdictional risk.
Source – Seeking Alpha / Mountain Valley Value Investments
Hope you had a LOVEly Valentines weekend!
Washington State No Longer Tax Free for Gold & Silver
January 1, 2026, a significant regulatory shift took hold in Washington State, fundamentally altering the landscape for physical metal investors. The implementation of Engrossed Senate Substitute Bill (ESSB) 5794 officially repealed the state’s long-standing sales tax exemption on precious metal bullion and monetized coins. For the first time since 1985, residents in the Evergreen State must now pay a statewide 6.5% sales tax—plus local surtaxes that can push the total levy as high as 10.6%—on every ounce of gold or silver they acquire.
The most immediate losers of this policy shift are the brick-and-mortar dealers within Washington State. Historically, these businesses drew customers from across the Pacific Northwest, but they now face a stark competitive disadvantage against neighboring Oregon, which has no sales tax, and Idaho, which maintains its bullion exemption.
Source – Financial Content
Devastating to learn that Washington’s 40 years of no tax on gold and silver has taken effect this year. We are in March now since this has started but what a shame for this to have happened. I hope all businesses stay strong and speak to those who can help change this tax law back to the way it was. Good luck!
-V.
Copper falls, what about demand?
Copper prices have been on a stellar run, boosted by President Donald Trump’s proposed tariffs. But Wall Street sees headwinds for the metal, with two miners catching downgrades.
Freeport stock lost 3.2%, closing at $44.12, while the S&P 500 and Dow Jones Industrial Average dropped 0.4% and 1%, respectively.
Southern Copper shares fell 2.4% to $97.54.
As for demand, Citi analyst Tom Mulqueen noted in a Tuesday report that tariffs and policy changes will be a headwind in the second half of 2025.
“We also see sustained sluggish manufacturing activity and solar frontloading weighing on copper end-use consumption in the months ahead,” wrote Mulqueen.
Source – Barron’s
Gold up .5%, Silver up .7%
Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of U.S. interest rate cuts later in the year, while investors awaited more details on U.S. President Donald Trump’s trade policy.
Spot gold was up 0.5% to $3,328.23 per ounce by 0916 GMT. U.S. gold futures gained 0.5% to $3,336.90.
“The passing of the One Big Beautiful Bill, unsettling trade (policies) and rate-cut expectations should be ‘dollar negative’ kind of events… gold should be favoured in that environment,” said WisdomTree commodities strategist Nitesh Shah
Spot silver rose 0.7% to $36.59 per ounce, platinum gained 0.9% to $1,359.65, and palladium climbed 1.2% to $1,117.93.
Source – Reuters
Idaho gold mine wins federal approval despite objection
A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.
“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”
Source – Idaho Statesman
Gold hit another record high
Gold is on a tear, hitting a record high in New York on Monday at almost $3,150 an ounce to bring the rise this year to 19%.
Analysts at Bank of America think gold could hit $3,500 an ounce if demand increases by 10%.
“Uncertainty around Trump Administration trade policies could continue to push the dollar lower, further supporting gold prices near-term. In our view, a broad rebalancing of America’s twin deficits could be bullish gold too.”
Source – Markets Insider