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Trump metals tariffs propel gold, China steel under pressure

ByVictoria

China, the biggest steel maker, is not a top direct exporter of steel to the U.S. but Trump said that China’s exports had forced others to ship more to the U.S., while rising imports “support a conclusion” of transshipment or processing of steel products via third party countries into the U.S.

“Today is a great day for the U.S. aluminum industry,” said Mark Duffy, president of the APAA.

“Unfair trade practices have devastated the domestic aluminum industry and President Trump’s actions today will protect thousands of American workers and their families.”

Source – Reuters

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Will gold reserves replace dollar?

ByVictoria
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The Reserve Bank of India (RBI) is not increasing the reserves of gold to replace any international currency, Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha.

“Gold is also kept in the Reserve Bank and gold is also being bought by the Reserve Bank. But beyond that, as regards an international currency or potential currency, there is not much for me to comment at this stage,” FM Nirmala Sitharman said.

“I think it is very typical of India, particularly for households of small businesses and, it is normally said, women, but general households also, and women also, to invest in gold because they think it’s far more secure and far more liquid” FM Nirmala Sitharaman said.

“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump posted on Truth Social after assuming power as the President of the US.

Source – Mint

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VIZSLA Silver files updated tech report

ByVictoria
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Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that, further to its news release dated January 6, 2025, it has filed an independent technical report (the “Technical Report”) containing an updated mineral resource estimate on the Company’s Panuco silver-gold project. The Technical Report has an effective date of September 9, 2024, and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo., and Henri Gouin, P.Eng.  of SGS Geological Services and Peter Mehrfert, P.Eng., James Millard, P.Geo., Scott Elfen, P.E., and Jonathan Cooper, P.Eng. of Ausenco Engineering Canada ULC.

The Technical Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and is also available on the Company’s website (www.vizslasilvercorp.com).

Source – PR Newswire

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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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Copper up, investors confused

ByVictoria
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Copper prices drifted higher on Wednesday as investors waited for details of U.S. reciprocal tariffs, but tin extended a rally to its highest in nearly three years on supply fears.

Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,711 a metric ton by 0953 GMT after slipping to its weakest in three weeks at $9,668.50.

“Investors are confused, they’re uncertain about the outlook. It’s mostly tariff-related, although there’s also global conflict, currency debasement and confusion around central bank policy,” said Tom Price, head of commodities strategy at Panmure Liberum.

“Aluminium gives you an insight into what copper might do. It has gone through the first phase of factoring in the cost of tariffs and now it’s going into the second phase, where demand is deteriorating,” Price said.

Source – Business Recorder

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Presidential dollars and First Spouse gold coins legislation extension

ByVictoria
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A flurry of legislative activity in both chambers of Congress in February includes more than a half dozen bills, one of which seeks an extension of production of Presidential dollars and First Spouse gold coins.

S. 633, introduced Feb. 19 by Sen. Catherine Cortez Masto, D-Nevada, seeks to extend the Presidential dollar and First Spouse gold coin series to include deceased presidents and their spouses not yet honored.

Jimmy Carter Presidential dollars would be authorized to be struck with a circulation finish in bags and rolls offered for sale from the Denver and Philadelphia Mints, and Uncirculated finish versions from both production facilities and Proof coins from the San Francisco Mint.

For the First Spouse gold coins, Proof and Uncirculated versions would be produced as numismatic products at the West Point Mint bearing the facility’s W Mint mark.

Source – Coin World