| |

Utah bill to allow vendors to be paid in gold and silver

ByVictoria

Bill HB306, now awaiting signature from Governor Spencer Cox, authorizes the state treasurer to issue a competitive procurement for a precious metals-backed electronic payment platform. This will allow state vendors to opt for payment in physical gold and silver.

Rep. Kenneth Ivory sponsored Bill HB306, and Sen. Keith Grover pushed the legislation through the Senate. The state politicians noted that the legislation is the latest evolution in Utah’s stance in favor of sound money.

“In uncertain economic times, Utah is providing vendors and service providers with the option to receive payment in gold and silver,” Rep. Ivory said. “This law gives Utahns an alternative to choose how they preserve the purchasing power of their earnings and savings.”

Source – KITCO News

Similar Posts

  • /

    President Trump said he will impose tariffs on aluminum and copper

    ByVictoria
    0 Comments

    “We have to bring production back to our country,” he said.

    “In the US, manufacturers will have little choice but to pass on higher costs from imports to consumers until the downstream industry (refining/smelting) has undergone suitable investment,” said Natalie Scott-Gray, senior metals analyst at StoneX.

    “If Trump imposes tariffs, it will have an adverse impact particularly on aluminum because Europe is already on path to impose a carbon tax and the UK might do it too,” said B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries.

    Source – Mining.com

  • / /

    Gold higher, Silver edged

    ByVictoria
    0 Comments

    Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss.

    Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22.

    “Gold looks like $3,500 may be a top for a little while, especially if some trade deals start to come through and some risk on appetite starts to break through the kind of negative euphoria that we’ve been seeing since the tariff talks,” said Daniel Pavilonis, senior market strategist at RJO Futures.

    Spot silver edged 0.1% lower to $32.35 an ounce, platinum rose 1% to $967.70, and palladium gained 0.9% to $949.00.

    Source – Reuters

  • /

    Copper outputs up amid tariffs

    ByVictoria
    0 Comments

    BHP warned Thursday that a tariff war could slow the global economy and disrupt world trade, as the world’s biggest miner reported a slight decline in quarterly iron ore production and a 10% rise in copper output due to higher volumes from the giant Escondida mine in Chile.

    “Despite the limited direct impact of tariffs on BHP, the implication of slower economic growth and a fragmented trading environment could be more significant,” CEO Mike Henry said. “China’s ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook.”

    Source – Seeking Alpha

  • /

    Goldman Sachs raises gold forecast again

    ByVictoria
    0 Comments

    Analysts led by Lina Thomas moved their gold forecast for the end of 2025 to $3,300 an ounce, from $3,100.

    Gold futures rose 1.3% to $3,060.70 an ounce, buoyed by uncertainty over new auto tariffs announced by the White House on Wednesday. 

    On Tuesday, Bank of America lifted its gold-price forecast to $3,500 from $3,000. As with Goldman, their analysts cited central bank and ETF demand, but also pointed out that China’s insurance industry is getting a regulatory push to buy more.

    Source – Market Watch

  • /

    “Silver Guru” David Morgan gives his take on current silver market

    ByVictoria
    0 Comments

    In a recent interview with Liberty and Finance, the esteemed precious metals analyst David Morgan, widely known as the “Silver Guru,” delivered a compelling analysis suggesting that silver prices are on the cusp of a significant surge. Drawing upon his extensive knowledge of the precious metals market, Morgan highlighted the current lack of substantial upside resistance for silver, hinting at a potential rapid upward movement that has yet to materialize fully.

    “I mean, we’re high enough in the silver price for it to have very little upside resistance and to be able to just move, move, and move some more, and it hasn’t started yet.”

    Morgan believes that broader market dynamics and the inherent appeal of silver as a monetary and industrial metal will eventually draw them back in.

    Source – The Jerusalem Post