Precious Metals

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    Mali suspends artisanal gold mining

    ByVictoria
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    Mali said on Wednesday it was suspending licenses for foreign artisanal gold mining companies after a series of fatal accidents in the West African country, one of Africa’s top three gold producers.

    Gen. Assimi Goita, president of Mali’s transitional government, ordered “the suspension of artisanal mining permits granted to foreigners,” according to a statement issued following a Council of Ministers meeting.

    “These measures are designed to further strengthen the state authorities and protect our fellow citizens. These measures give us the power to seize materials (mining equipment), which will be confiscated and placed in the domain of national heritage,” Gen. Daoud Ali Mohammedine, the minister of security and civil protection, said on ORTM.

    Source – The Associated Press – Business News

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    Gold prices and gold futures drop

    ByVictoria
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    Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

    U.S. gold futures also dropped 0.5% to $2,912.10.

    “Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report,” Lukman Otunuga, senior research analyst at FXTM, said.

    Platinum prices were flat at $964.68 per ounce.

    Spot silver dipped 0.7% to $32.39 an ounce and palladium shed 0.5% to $937.74.

    Source – Reuters

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    Silver up 1.2%, dollar hits lowest in months

    ByVictoria
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    Silver gained as much as 1.2%, rising for a third day. A guage of the dollar hit the lowest in about three months, as the euro strengthened amid Germany’s plan to boost spending and loosen borrowing restrictions.

    The “tidal wave” of silver risks pushing freely available silver in the London spot market below a critical threshold needed for the market to function, Daniel Ghali, a senior commodity strategist at TD Securities, recently wrote in a note.

    Spot silver rose 0.9% to $32.262 an ounce as of 11:41 a.m. in London. The Bloomberg Dollar Spot Index fell 0.4%. Gold and palladium were little changed, while platinum advanced.

    Source – Mining.com

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    President Trump wants to see Fort Knox gold for himself

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    “We have found hundreds of billions of dollars of fraud so far. And we’ve just started. We’re actually going to Fort Knox to see if the gold is there, because maybe somebody stole the gold. Tons of gold,” Trump said.

    “I think the gold is probably there. It’s probably almost certainly there,” David Sacks, Trump’s crypto czar, told Fox News last week, though he still agreed with the president’s calls to investigate the matter.

    “Nobody thinks this is a crazy idea to go check because we don’t know,” Sacks added, arguing that “we cannot fully trust that our gold is still in Fort Knox” because of the “corruption” in Washington.

    Source – ABC News

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    Gold hasn’t moved much, down .01%

    ByVictoria
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    Spot gold was down 0.1% at $2,913.79 an ounce as of 10:04 a.m. EST (1504 GMT). U.S. gold futures rose 0.1% to $2,923.70.

    “There’s still buying interest out there now … there’s going to be some measure of caution ahead of Friday’s (payrolls data), but the underlying trend remains favorable,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. 

    “If the number comes out really bad, I would imagine gold sells off. If it comes out neutral, I don’t think that’s going to move the needle too much. But if it comes out bullish, then gold takes off and we get pretty quick to $3,000, if not higher than that,” said Daniel Pavilonis, senior market strategist at RJO Futures.

    Spot silver advanced 1.2% to $32.36 an ounce and palladium fell 0.4% to $938.22. Platinum gained 0.5% to $965.45.

    Source – Reuters

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    Discover Silver aims to grow production

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    Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.

    “The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.

    Source – KITCO News

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    Silver Tightness Pushes Silver Prices And The SILJ ETF Higher

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    Silver is more volatile than gold. Monthly historical volatility in the COMEX silver futures market is at 19.88%, while gold’s monthly price variance metric is 10.45%. Silver’s penchant for high price volatility attracts more speculative market participants than gold. While gold is an investment asset, silver tends to be a trading vehicle.

    Source – Seeking Alpha / Analysis

    SILJ – is Amplify Junior Silver Miners

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    2025 Roosevelt silver will have differences

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    While the Theodore Roosevelt Presidential silver medal to be issued sometime this summer by the United States Mint will bear the same obverse and reverse designs as used for a silver medal included in the 2013 Theodore Roosevelt Coin & Chronicles Set, the new issue will have distinct differences.

    The obverse design is the same executed by Chief Engraver Charles E. Barber for the Mint’s 1905 Presidential medal from his second term, with the reverse design by Assistant Mint Engraver George T. Morgan.

    Source – Coin World

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    2026 Red Book United States coin guide book

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    The 2026 edition has been “meticulously redesigned with the collector in mind,” according to the publisher.

    “I am truly honored to have been part of this year’s transformation, working closely with the extremely talented and professional staff at Whitman and the invaluable Red Book Advisory Panel of more than 70 numismatic industry leaders, experts, and supporters,” said Jeff Garrett, Red Book editor and president of Mid-American Rare Coin Galleries. “Every change, from the book’s physical size to its presentation order, was carefully chosen and implemented with a single goal — to enhance the collector’s experience.”

    Source – Coin World

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    Sacagawea gold coins may be produced by at the West Point Mint facilities

    ByVictoria
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    If the United States Mint moves forward with plans to produce a 24-karat gold Sacagawea dollar on the 25th anniversary of the series in 2025, it will be the first time the issue is produced in .9999 fine gold.

    The bureau is considering producing the gold dollars at the West Point Mint with the facility’s W Mint mark. Bureau officials have not disclosed what finish would be used for the 25th anniversary gold dollars nor any mintage limit.

    The proposed 25th anniversary Sacagawea gold dollar will feature the designs that appeared on coins released into general circulation in January 2000, bearing the so-called “13 tail feathers,” with the same inscriptions as originally featured on the 2000 coins, with no mention of gold weight or fineness.

    Source – Coin World