|

San Francisco Mint might close

President Trump and the Elon Musk-led Department of Government Efficiency (DOGE) have now targeted the San Francisco Mint for closure in a bid to sell the real estate on which the National Register of Historic Places structure stands, theoretically to reduce government expenses.

Mint-wide, the bureau has already trimmed more than 100 full-time staffers, with an edict from DOGE to trim another 200, while the bureau wrestles with vacancies, some of which still need to be filled. Many of the positions trimmed were resolved through resignations and retirements.

Closing the San Francisco Mint could affect the production of many numismatic products, such as Proof sets, silver Proof sets, Proof commemorative coins and Matte silver presidential medals.

Source – Coin World

Similar Posts

  • /

    Silver price strengthens dollar

    Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.

    Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.

    Source – FX Street

  • /

    Silver prices in India gained .21%

    Silver prices in India ended the week higher, closing at ₹1,01,522 per kg on Friday, March 28, 2025. The metal gained ₹209 (0.21%) on the Multi Commodity Exchange (MCX) for May delivery, with a turnover of 22,870 lots.

    Silver remains one of the top-performing assets of FY25, delivering a 35.56% return, surpassing gold (+31.37%), Nifty (+5.29%), and Sensex (+4.96%).

    Max Layton, Global Head of Commodities at Citi, expects silver to trade between $34-$35 per ounce over the next 3-6 months.

    Source – CNBC TV18

  • /

    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 rises with new record

    “We could envision a situation where inflation migrates higher, while the economy slows down as the auto sector grinds to a sudden halt, for example,” said Bart Melek, global head of commodity strategy at TD Securities.  “Higher inflation and low rates, and the associated angst with the president’s imposition of tariffs, so uncertainty and risk are helping gold.” 

    “These tariffs create a strong tailwind for gold,” Bank of Montreal analysts wrote in a note. “Not only because of their inherent inflationary effects but also as the USA’s increasingly hawkish foreign policy may accelerate de-dollarisation plans.”

    Source – Bloomberg

  • / /

    Gold and Silver up around the world

    Gold prices in India skyrocketed by Rs 6,250 on Friday to reach a historic high of Rs 96,450 per 10 grams in the national capital, fuelled by robust demand from local jewellers and soaring global prices driven by heightened US-China trade tensions, according to the All India Sarafa Association.

    Gold of 99.9% purity also saw a significant jump, closing at Rs 96,450 compared to Wednesday’s Rs 90,200.

    Silver too followed suit, leaping Rs 2,300 to settle at Rs 95,500 per kg from its earlier close of Rs 93,200, mirroring the bullish global momentum.

    Comex gold futures climbed to a record USD 3,249.16 per ounce, signalling strong safe-haven demand.

    “Comex gold prices hit lifetime highs due to surging safe-haven demand, triggered by fears of a deepening global economic slowdown and further retaliation between the US and China,” said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.

    Source – The Times of India

  • /

    Foreign traders banned from gold markets

    Ghana has banned all foreigners from trading in its local gold market as part of efforts to boost national revenue and streamline the country’s mining sector.

    It follows the enactment of a new law earlier this month that grants exclusive authority of gold mining to a new state body, the Ghana Gold Board

    “All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said GoldBod spokesperson Prince Kwame Minkah in a statement.

    However, foreigners are allowed to apply to buy or off-take gold directly from the GoldBod but can no longer operate within the local gold value chain.

    “It sends a strong message to foreign actors – especially Chinese operatives – who have circumvented local laws for years,” Nana Asante Krobea, a mining governance consultant

    Source – BBC