Precious Metals

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Silver price remains below $30.00 due to improved market sentiment

Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.

People’s Bank of China (PBOC) Governor Pan Gongsheng stated on Monday that “interest rate and reserve requirement ratio (RRR) tools will be utilized to maintain ample liquidity.” Gongsheng reaffirmed China’s plans to increase the fiscal deficit and emphasized that China will continue to be a driving force for the global economy.

Source – FX Street

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Gold stays steady investors take caution

“We’re going to need to see continued progress on inflation in order to bring back those interest rate cut expectations,” said Phillip Streible, chief market strategist at Blue Line Futures.

“People are a little bit nervous, and they want to be cautious going into CPI tomorrow,” he added.

Source – Reuters

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China has more gold than they admit

Chinese authorities see a greater role for gold in the future international monetary system, or they wouldn’t continue buying such extraordinary amounts of gold. Via London alone, the PBoC has stockpiled 1,000 tonnes of gold since Russia’s foreign exchange assets were ‘frozen’ by the West in early 2022.” Nieuwenhuijs wrote

Source – Money Metals

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Kentucky Considers Bill to Entice Gold and Silver Investors 

The bill says, “any aggrieved taxpayer who has had taxes collected from them in any purchase that are exempt under KRS 139.480(37), may maintain an action for a refund on behalf of themselves and others similarly situated, without need to resort to any administrative process, against any person collecting or holding such tax funds, including the Secretary of the Finance and Administration Cabinet and the Commissioner of the Department of Revenue.”

 “If you own gold, you can afford to pay sales tax.” said Gov. Beshear

Source – Money Metals

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Over the Weekend News!

Stealth Fed Dollar Crisis Predicted To Spark A Bitcoin Price Boom To Rival Gold

“Current inflation measures, such as consumer price index (CPI) and producer price index (PPI), are significantly lower than previous 40-year highs. However, they remain ‘stubborn’ or ‘sticky,’ resisting a return to the central bank’s preferred 2% target,” Fidelity Digital Assets research director Chris Kuiper wrote in a report that asked: “Why is no one talking about stagflation?”—defined as a combination of low economic growth and persistently high inflation.

Source – Forbes

Meet the Ultrathin Conductor Set to Replace Copper in Advanced Electronics

“We are breaking a fundamental bottleneck of traditional materials like copper,” said Asir Intisar Khan, who received his doctorate from Stanford and is now a visiting postdoctoral scholar and first author on the paper. “Our niobium phosphide conductors show that it’s possible to send faster, more efficient signals through ultrathin wires. This could improve the energy efficiency of future chips, and even small gains add up when many chips are used, such as in the massive data centers that store and process information today.”

Source – SciTechDaily

True North Copper Secures $53.44 Million in Capital Raising, Prepares for ASX Reinstatement

This move facilitates the company’s reinstatement of its securities to official quotation, following a consolidation of its issued capital and the settlement of various creditor liabilities.

These financial maneuvers are expected to strengthen True North’s operational foundation and strategic positioning in the mining sector.

Source – Tip Ranks

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Clive Thompson says the elite are the ones buying gold

 “Over the last 12 months, the value of their reserves or the value of the gold in their reserves was five times the amount by which their reserves increased,” Thompson stated, emphasizing the significant shift in China’s gold holdings.

Thompson also highlighted the unique dynamics of the silver market. “We’ve seen year after year the volume of silver… being produced by the mines going down,” he explained.

Source – The Jerusalem Post

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2025-S American Women Quarters Proof set on sale late February

Quarter dollars in the set are produced at the San Francisco Mint and will feature reverse designs recognizing, in order of release, Ida B. Wells, a founder of the National Association for the Advancement of Colored People; Juliette Gordon Low, founder of the Girl Scouts of the United States of America; Dr. Vera Rubin, trailblazing astronomer; Stacey Park Milbern, disabilities rights advocate; and Althea Gibson, accomplished amateur tennis player and professional golfer.

The clad composition comprises outer layers of an alloy of 75% copper and 25% nickel bonded to a core of pure copper.

Source – Coin World

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India admits miscalculations on gold for months

The Ministry of Commerce and Industry said in a statement Thursday it revised import figures from April to November after discovering the discrepancy, which had resulted from migrating to a new data transmission system.

The miscalculation led to a four-fold increase in gold imports to a record $14.8 billion in November, causing the trade deficit to widen to $37.8 billion.

Preliminary revisions show gold imports were $37.39 billion in the April-November period, down $11.7 billion from previously reported.

Source – Bloomberg / Live Mint

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New Gold Inc reports 2% increase in Q4 gold production

NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.

New Gold’s copper production was at 14.5 million pounds for the fourth quarter, up 20% year over year. The annual copper production totaled 54 million pounds, within the company’s guidance of 50-60 million pounds.

The New Afton mine produced 19,652 ounces of gold and 14.5 million pounds of copper in the fourth quarter. Gold production increased 19% and copper production rose 15% from the third quarter of 2024. The B3 cave performed per expectations.

Source – Zacks

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A-Mark Precious Metals stocks highlighted by Night Watch Investment Management

On January 7, 2025, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) stock closed at $27.50 per share with a market capitalization of $637.563 million.

“As a long-biased fund, we prefer to own various countercyclical companies to lower the risk of our portfolio. At the beginning of the year, we identified a pawn store operator and a wholesaler / retailer of precious metals called A-Mark Precious Metals, Inc. (NASDAQ:AMRK) as interesting long-term opportunities that simultaneously provided a hedging function to our portfolio. We have exited our position in AMRK during the year. We believed that economic uncertainty and higher precious metals prices would spark renewed consumer demand for physical gold and silver coins. This demand did not materialize and we therefore saw no immediate catalyst in AMRK.” stated Night Watch Investment Management in its Q4 2024 investor letter

Source – Insider Monkey