Pan American Silver Corp. stock
Source – MSN
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“Liberation Day” tariffs!
Stocks recoiled on Wednesday, while safe-haven gold held near record highs as a nervous world awaited details of U.S. President Donald Trump’s tariff plans and investors fretted about the risks of an intensifying global trade war.
“Whatever’s announced today, I doubt very much will be the framework that’s in place in, say, nine months’ time because we know there’ll be negotiations around this,” Daiwa Capital economist Chris Scicluna said.
“It’s very difficult to predict with any confidence what the ultimate impact is going to be, whether broadly, economically, in terms of rates or in terms of stock markets,” he said.
“Investors are hoping for some clarity, and perhaps the start of the deal-making phase. But tariffs are already weighing on business sentiment, and this will probably feed through into lower global economic activity in the coming months,” said Ben Bennett, Asia-Pacific investment strategist at Legal & General Investment Management.
Source – Reuters
Precious Metals with highs and pressure
Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
Texas allow gold and silver as legal tender
Texans are to be allowed to pay with with gold and silver for everyday transactions after Governor Greg Abbott signed House Bill 1056 into law. The law, which was championed by Republican state representative Mark Dorazio, designates the precious metals as legal tender in the state.
Texans will be able to use their gold and silver holdings, stored in the state’s bullion depository, for payments through electronic systems such as mobile apps or debit cards.
The provision comes after legislative debate, and takes effect on May 1, 2027, enabling transactions based on the state comptroller’s valuation of the metals at the time of sale.
Source – Newsweek
Legal Tender – officially recognized money
Gold down, futures ease
Gold prices were stuck in range-bound trade on Thursday as investors awaited U.S. non-farm payrolls data that could influence the Federal Reserve’s timeline for interest rate cuts.
Spot gold was down 0.3% at $3,347.44 an ounce by 1128 GMT. U.S. gold futures eased by 0.1% to $3,358.
The non-farm payrolls report due at 1230 GMT on Thursday is expected to show an addition of 110,000 jobs in June, down from 139,000 in May, according to a Reuters poll.
Spot silver rose 0.9% to $36.93 an ounce while platinum lost 2.7% to $1,379.95 and palladium retreated by 1.9% to $1,132.76.
Source – Reuters
Silver prices rise
New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.
Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.
Source – Press Trust of India
Gold recession warning
“I’m basing this whole forecast on the fact that the Fed is going to be wrong,” Hemke stated, emphasizing his belief that the current economic strength is overstated.
Craig Hemke is a precious metals analyst.
Source – The Jerusalem Post