Gold

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    Over the Weekend!

    ByVictoria
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    The US is moving towards sound money movement

    “Everything else that could function as money has been saddled with taxes and disincentives,” Jp Cortez explained, emphasizing how the current monetary system traps people in the Federal Reserve’s fiat currency.

    “Ten years ago, only a handful of states were considering sound money policies. Last year, more than 27 states introduced over 65 bills related to sound money.”

    Source – Money Metals

    Sound money – refers to a reliable and stable medium of exchange that maintains its value over time.

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    Florida gold and silver tender

    ByVictoria
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    Update to Gold and Silver Specie as Legal Tender

    Source – www.flsenate.gov

    Effective day : 7/1/2025

    Is this going to happen? Is this bill passed and will be in affect July? If anyone know please comment as I cannot find much info on this except that this was posted 4 days ago. -V.

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    Freeport McMoRan mining raised at Jefferies

    ByVictoria
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    Freeport McMoRan (NYSE:FCX) trades little changed Thursday as Jefferies upgrades shares to Buy from Hold with a $48 price target, raised from $40, just one month after downgrading due to risks in Indonesia, a cautious view on copper, and the company’s near-term lack of free cash flow.

    If tariffs are implemented, Comex copper price premiums to the LME, which have been high already because of potential tariffs, likely will rise further, Jefferies analyst Christopher LaFemina says, noting Freeport (FCX) sells 1.35B lbs/year of copper at Comex prices and the current Comex premium to LME is ~$0.30/lb, and tariff-impacted imports would effectively set the Comex price since the U.S. cannot be self-sufficient in copper.

    Source – Seeking Alpha

    Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.

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    Everything about buying gold at Costco

    ByVictoria
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    Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products:

    • 1 oz. gold bar PAMP Suisse Lady Fortuna Veriscan
    • 1 oz. gold bar Rand Refinery (online only)
    • 2025 1 oz. American Buffalo gold coin
    • 1 oz. gold bar PAMP / Newmont Lady of Liberty (online only)
    • 100-gram gold bar Rand Refinery

    Costco’s selection comes from authorized dealers and reputable mints. However, as Costco members are accustomed to, offerings and availability may change.

    Costco marks up its cost for gold by roughly 2%. Markup is common practice among gold dealers and retailers, and 2% is on the low end of industry standards.

    Source – CBS News

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    Spot gold down 1.3%

    ByVictoria
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    Spot gold was 1.3% down at $2,840.25 an ounce by 10:42 a.m. ET (1542 GMT). Bullion has so far lost 3.2% for the week, its steepest weekly fall since November.

    “I think the main element impacting the gold and silver markets is the profit-taking in week-long liquidation (and) the strong U.S. dollar index,” said Jim Wyckoff, a senior market analyst at Kitco Metals.

    Spot silver fell 0.9% to $30.97, platinum lost 1.1% to $938.50 and palladium slipped 1.5% to $906. All three metals’ prices looked set for monthly declines.

    Source – Reuters

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    Gold prices still going strong

    ByVictoria
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    “We believe the demand is across the board. We see institutions either adding to or establishing long term strategic asset allocation type positions. We see individual investors doing the same. We see a certain amount of FOMO. There’s a fear of missing out whenever the price gains momentum to the upside” George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, told FOX Business.

    Source – FOX News

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    Barrick Gold Corp. stock rises

    ByVictoria
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    Shares of Barrick Gold Corp. 

    ABX-3.10% rose 2.32% to C$26.47 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index 

    GSPTSE-0.78% rising 0.49% to 25,328.36.

    Source – Market Watch

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    Gold down 1.2%

    ByVictoria
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    Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.

    “The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.

    Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.

    Source – Reuters

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    Gold spot fell and investors waiting for data on Friday

    ByVictoria
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    Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

    “Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

    Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

    Source – Reuters

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    Gold falls, trade war fears continue

    ByVictoria
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    Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.

    U.S. gold futures declined 0.5% to $2,948.60.

    Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”

    “I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.

    Source – Reuters