Silver

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    Toronto Stock Exchange energy losses offset mining

    ByVictoria
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    The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE)
    , opens new tab     held steady at 24,793.53 points, mirroring the sentiment on Wall Street.

    However, high silver and gold prices helped limit losses for Canadian stocks.

    “A lot of gains were experienced yesterday and today you are probably going to see muted markets,” Allan Small, senior investment adviser at Allan Small Financial Group with iA Private Wealth, said on Thursday.

    The Bank of Canada is expected to cut interest rates by 25 basis points to 3.00% when it meets later this month, according to a Reuters poll of economists.

    Source – Reuters

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    Gold and Silver are surging

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    The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 80,900 per 10 grams. It settled at Rs 80,400 per 10 grams in the previous trading session.

    Silver also surged Rs 2,300 to Rs 94,000 per kg from the previous close of Rs 91,700 per kg on Wednesday.

    “Gold surged higher trading above Rs 79,000 in MCX, supported by a rupee depreciation,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.

    Source – Press Trust of India

    More Info!

    Rs (abbreviated) is a financial term that you may or may not be familiar with. I have 2 descriptions for this abbreviated term. Rs stands for Relative Strength.

    • A strategy used in momentum investing and in identifying value stocks. It focuses on investing in stocks or other investments that have performed well relative to the market as a whole or to a relevant benchmark.
    • (In stock) a technical analysis indicator that measures the performance of a stock relative to a market index or another stock.
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    Florida Senator Proposes Bill To Recognize Gold, Silver, And Digital Currency As Legal Tender

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    Follow up to Gold and Silver may be adopted as legal tender in Florida

    Sponsored by Senator Rodriguez, Senate Bill 132 aims to redefine financial transactions, taxation, and payment of debts using these alternative forms of currency.

    The legislation would also exempt transactions involving gold, silver, and related currencies from taxation. The move reflects a growing interest in alternative monetary systems as a hedge against economic uncertainties.

    The proposed bill includes several significant measures:

    ・Definition of Legal Tender:

    ・Tax Exemptions:

    ・Government Acceptance:

    ・Prohibition on Compulsion:

    ・Regulatory Framework:

    If passed, SB 132 would make Florida one of the few states to officially recognize gold, silver, and digital currencies as legal tender.

    Source – Tampa Free Press

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

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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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    Silver price remains below $30.00 due to improved market sentiment

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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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    Kentucky Considers Bill to Entice Gold and Silver Investors 

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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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    Clive Thompson says the elite are the ones buying gold

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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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    Author Collin Plume predicts spike in silver

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    “Bitcoin disrupted global finance just a decade ago, now, silver is emerging as the next keystone of global transformation—poised to reshape industries, currencies and geopolitics.”

     “With reserves projected to run out in just 20 years, Plume predicts silver’s price could surpass $60 per ounce.”

    According to Plume, nonsourced calculations are “showing the U.S. would need over 3.5 billion ounces [109,375 tons] of silver to transition to 100 percent solar power.” The writer and his publisher say this ties into “how China’s dominance in silver production threatens U.S. strategic interests.”

    Source – Recycling Today

    More Info on Author

    Collin Plume author of Silver is the New Oil

    Article on Collin Plume CSQ

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    Trump Tariff Fears Spark Disconnect in Silver and Copper Markets

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    “Investors around the world have started the year looking for protection against sticky and potentially rising inflation, fiscal debt worries and the unpredictability of Trump,” said Ole Hansen, head of commodities strategy at Saxo Bank. 

    “The market is sleepwalking into a squeeze right now,” Daniel Ghali, senior commodity strategist at TD Securities, said in an interview. “People are completely disregarding this risk.”

    Source – Bloomberg / Yahoo Finance