Breaking news from the precious metals industry. Gold, silver and platinum group mining, refineries and refining technologies, minting and distribution.
News and information about the global drivers of prices in the precious metals markets. Including central banks, interest rates, industrial manufacturing, electronics and investors.
Currently, the Zimbabwe gold-backed digital currency that was introduced in 2023, is in use as legal tender and a store of value alongside the Zimbabwean dollar and bond notes. According to state-owned media reports, the country’s central bank currently holds roughly 793kgs of gold in reserves valued at roughly $49 million at the current price with plans to grow reserves to around $100m.
Costco’s decision to sell precious metals is being viewed as a strategic way to tap into niche markets while exposing precious metals as store of value and wealth to their diverse customer base.
Costco’s venture into selling precious metals is helping to set a new retail trend that blurs the lines between everyday shopping and investing.
The surface of all precious metals have microscopic topographic features that are as unique as human fingerprints.
The PAMP Suisse Veriscan Mobile Application can be used to authenticate gold, silver and platinum bars that are issued by PAMP Suisse, along with bullion coins and bars that are issued by a handful of other established mints that include the Royal Australian Mint, Bank of China, Lombard Bank Malta and UBS.
One of the most popular silver at spot price deals is the 10 oz Silver Bar at Spot Price from Silver Gold Bull. This particular silver bar is minted by Sunshine Minting and contains a custom design that features the Silver Gold Bull charging bull logo.
Interest in deep sea mining increases during precious metals bull markets. With increased demand for precious metals and minerals for electronics manufacturing and other purposes, investments in deep sea mining projects has resumed.
The problems from illegal mining in some parts of the world extend well beyond the local level. Illegally mined gold often needs to be smuggled long distances across many borders before it can be sold.
It’s been more than ten years since then US Treasury Secretary Jacob Lew announced a new project to redesign the nations currency, beginning with the $10 note.
At the time of the announcement, the designs for the new $10 bill were expected to be unveiled in 2020 to correlate with the 100th anniversary of 19th Amendment, which granted women the right to vote.
Kitco has restored some website services after being taken offline due to a cybersecurity incident nearly two weeks ago. The website now displays precious metals news, commentary and analysis, price charts and other information, but e-commerce functionality is still offline. The company
As one of the largest markets for physical gold, the demand and supply dynamics in the SGE can have a ripple effect on global gold prices.
This week, the Shanghai Gold Price topped the $2,100 per ounce resistance, closing the year at a record breaking $2,118.20 per ounce, the highest price per ounce in history.
While this helps to make precious metals more accessible to more people, consumers should be wary about purchasing their precious metals through Walmart as the premiums are often higher than buying direct from the dealer, even taking into account the higher premiums that come with using a credit or debit card for purchase.