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Trump to make sure Fort Knox gold is there

“We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.

“We hope everything is fine with Fort Knox, but we’re going to go into Fort Knox, the fabled Fort Knox, to make sure the gold is there.”

“If the gold isn’t there, we’re going to be very upset,” Trump said.

Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., visited the vaults in 2017. They reported that, despite various conspiracy theories, the gold was present.

Source – FOX News

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    Gold up Silver down

    The price of 24-carat gold surged by Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 78,830 according to the GoodReturns website. The price of silver fell by Rs 100, with one kilogram of the precious metal selling at Rs 92,400.

    The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Chennai, and Hyderabad at Rs 78,830.

    Source – Business Standard

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    Gold and yen bask in the limelight

    A bevy of tariff headlines this week along with geopolitical worries has left investors wary and weary, taking stocks lower in Asian hours, gold to a record peak and the yen to its highest in over two months as sentiment remains fragile.

    The risk-off mood meant the yen – already underpinned by rising odds of the Bank of Japan hiking rates again – was the main mover among currencies, hitting its highest level since early December and was last at 150.48 per dollar.

    Both Citi and Goldman raised their target price on gold this month, predicting it to breach the $3,000 mark. A large part of the reason behind the bullishness is sustained demand from central banks. Perhaps in these uncertain times, gold is all that shines.

    Source – Reuters

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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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    Mitsubishi Materials considering partial shutdown

    Japan’s Mitsubishi Materials is considering scaling back copper concentrate processing at its Onahama Smelter & Refinery as falling treatment and processing charges (TC/RCs) weigh on earnings, it said on Monday.

    Mitsubishi Materials said the worsening TC/RCs from miners were expected to further erode smelting margins.

    “To maintain and improve profitability, we need to raise the ratio of recycled raw materials and accelerate the shift to feedstock less vulnerable to TC/RC fluctuations,” the company said in a statement.

    It is now considering the possibility of a partial shutdown of production facilities and a reduction in copper concentrate processing at Onahama, after planned maintenance from October to November this year, Mitsubishi Materials said.

    Source – Reuters

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    Florida Senator Proposes Bill To Recognize Gold, Silver, And Digital Currency As Legal Tender

    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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    Copper doing well in 2025

    Copper prices in the U.S. have surged ahead of those in the rest of world and hit a record last week, a sign the mere threat of tariffs is lifting costs for domestic manufacturers.

    Benchmark U.S. copper futures ended Monday at $5.02 a pound, up 26% this year. That compares with an 11% gain to $9,673 a metric ton, or about $4.39 a pound, on the London Metal Exchange, which is the global trading hub.

    U.S. copper futures have been the top performer among major commodities in the first quarter. Prices for the industrial metal last week topped the record set in May but have since pulled back. Copper’s gains have outpaced the 21% rise in lumber futures, which was also fueled by uncertainty over tariffs.

    Source – Wall Street Journal