Although the high gold-silver ratio might suggest that silver has been a laggard, that is far from the case. Silver has rallied 43% in the past year, and gold has been just a bit better with a 44% gain. This year, using popular exchange traded funds as a gauge, iShares Silver Trust (SLV) is up 10% and SPDR Gold Shares (GLD) is up 11%.
Source – Barron’s
Legislation introduced in the House March 10 seeks a two-coin program for 2027 commemorating the 25th anniversary of the Sept. 11, 2001, terrorist attacks on the United States. The issue date is a year past the anniversary, to avoid conflicting with the semiquincentennial initiatives.
Source – Coin World
“The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand, and with global growth concerns (tariff and cycle related) set to raise ETF and OTC investment demand,” Citi stated in a note.
“We expect gold to continue to rise as a hedge against growth and other risks, including actual and perceived rising growth risks, including trade wars, still-high interest rates weighing on growth, continued deterioration in the U.S. labor market, ex-U.S. currency devaluation risks, and potential U.S. equity drawdown risks,” the bank noted.
Source – Reuters
Now, as Elon Musk brands the U.S. debt clock “terrifying,” bitcoin-backing U.S. senator Cynthia Lummis has pitched Musk a bitcoin “fix” to questions over the U.S. gold reserves.
“Bitcoin fixes this,” Lummis posted to X in response to Musk’s question about how often the U.S. gold in Fort Knox is reviewed. “A bitcoin reserve could be audited any time 24/7 with a basic computer. It’s time to upgrade our reserves.”
“The recent decrease in volatility, coupled with the rising price of gold, should highlight bitcoinʼs growing appeal as an alternative store of value,” analysts with the Bitfinex crypto exchange said in emailed comments. “We believe that while bitcoin may face some short-term pressures due to macroeconomic headwinds in the coming weeks, its long-term value proposition continues to strengthen.”
Source – Forbes
The Thursday session sees a bit of consolidation in the silver market, as we are not trying to digest further gains from the Wednesday session. At this point, the market looks as if it want to go to the $35 level eventually.
Silver is a metal that I would be a buyer on dips because it is a precious metal. It’s a way to protect wealth, but it’s also an industrial one.
Source – FX Empire
The United States Mint establishes pricing on numismatic gold coins via its pricing grid, and updates were published July 1 in the Federal Register.
The LBMA closing spot price of gold per troy ounce June 30 was $3,287.45. If the average spot price were to remain at that level until the week of sales opening, the pricing grid predicts that the Mint would set the opening sale price at $2,150 for the Sacagawea 25th Anniversary half-ounce gold dollar and at $2,650 for the Superman half-ounce gold $50 coin.
Source – Coin World
LBMA – London Bullion Market Association is a whole sale market for trading precious metals. Gold, silver, platinum, and palladium.
Gold rose more than 2% on Monday to its highest in over three weeks, as a weakening dollar and a combination of geopolitical risks and economic uncertainty fuelled investor demand for safe-haven assets.
Spot gold was up 2.7% at $3,377.29 an ounce, as of 10:19 a.m ET (1419 GMT), after hitting its highest level since May 8 earlier in the session.
“The latest tariff threats on Friday, including plans to double steel and aluminium tariffs to 50% along with Ukraine’s weekend attacks deep into Russia, have heightened geopolitical risks and are fuelling risk-off sentiment,” said Peter Grant, vice president and senior metals strategist at Zanier Metals.
“For the gold forecast, this backdrop of risk aversion and fiscal uncertainty couldn’t be more favourable.”
Spot silver rose 4.1% to $34.31 an ounce, platinum was up 0.3% at $1,059.55 and palladium rose 1.2% to $982.40.
Source – Reuters
