Precious Metals

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    Kentuckians could sue Gov. Andy Beshear over a gold and silver sales tax

    ByVictoria
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    Follow up on Kentucky considers bill to entice gold and silver investors

    House Bill 2, introduced last week by Rep. T.J. Roberts, R-Burlington, and backed by several other GOP representatives, would void a controversial line-item budget veto by Beshear last year that prevented state lawmakers from exempting “bullion currency” — or gold and silver coins — from taxation.

    The proposed bill would also give people who have paid sales taxes on gold and silver since August — when the exemption was set to take effect — the power to use the courts to seek a refund along with $1,000 for “each day that the violation occurred,” paid by the governor’s office.

    Source – Louisville Courier-Journal

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    Gold Miners Reaping A Record Cash Harvest

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    Goldman Sachs is tipping a continued rise in Newmont’s share price with a target for its New York listed shares set at $47.20, up 17% on last sales at $40.23 while the company’s Australian listed shares are forecast to rise from A$64.80 to A$76.20.

    Strong central bank demand is expected to continue lifting the gold price towards $3000 an ounce from its current $2670/oz, according to Goldman Sachs

    “We expect our Australian gold coverage is set for a growing cash harvest over the next 12-months as price increases outweigh cost escalations, supporting further balance sheet strength, growing capital returns and prospective merger and acquisition activity,” Goldman Sachs said.

    Source – Forbes

    More Info!

    Harvesting (in finance), also known as an exit or liquidity event, is the act of cashing out of an ownership position in a company.

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    Silver price remains below $30.00 due to improved market sentiment

    ByVictoria
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    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

    ByVictoria
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    “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

    ByVictoria
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    “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 

    ByVictoria
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    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!

    ByVictoria
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    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

    ByVictoria
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     “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

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    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

    ByVictoria
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    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