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Will gold reserves replace dollar?

ByVictoria

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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    US Copper’s updated PEA estimates NPV over $1 billion

    ByVictoria
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    Moonlight – Superior project in California

    The study envisions a mine life of 14 years, producing 903,000 tonnes of copper, plus 12 million oz. of silver and 63,000 oz. of gold. A majority of the production will come from mining the sulfide mineralization at Moonlight-Superior.

    US Copper CEO Stephen Dunn said the PEA, which a culmination of several years of planning, drilling, metallurgical testing and engineering studies, confirms “substantial economic opportunity” at current copper prices that can be realized through the development of a series of open pit mines on the property.

    PEA – preliminary economic assessment

    NPV – Net Present Value

    Source – Mining.com

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    Glencore’s Steelmaking Company production fell

    ByVictoria
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    Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.

    Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.

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    Gold down, futures ease

    ByVictoria
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    Gold prices were stuck in range-bound trade on Thursday as investors awaited U.S. non-farm payrolls data that could influence the Federal Reserve’s timeline for interest rate cuts.

    Spot gold was down 0.3% at $3,347.44 an ounce by 1128 GMT. U.S. gold futures eased by 0.1% to $3,358.

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    Source – Reuters

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    Author Collin Plume predicts spike in silver

    ByVictoria
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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