More States Vote to Remove Sales Tax from Precious Metals
Sales tax on precious metals continues to be a contentious issue and more states are considering legislation to remove retail sales tax on gold and silver.
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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.
Inflation & Other Issues Begin to Pile Up on the Economy
Gold $1867.90 Silver $23.72 Platinum $1046.30 Gold/Silver Ratio 78.75 Confidence in the stock market continues to wane amid concerns over escalating issues involving Ukraine and inflation taking hold in the US economy. Oil and other commodity prices have risen sharply this week. Many people struggle to save money under normal circumstances. The pandemic has brought a tremendous amount … Read moreInflation & Other Issues Begin to Pile Up on the Economy
Bitcoin Investors Buy Silver Bars as Fed Develops CBDC Blockchain Competitor
Many trusted and reputable online bullion dealers have made it easy to buy 10 oz bars with bitcoin as a payment method. Several dealers integrate Bitpay wallet and other wallet to payment gateways and exchanges to provide some assurance that transactions will occur with discretion and privacy.
Central Banks Continue to Buy Gold throughout 2021
Last year was a banner year for Central Banks wanting to buy gold bars and silver. Recent reports from the Reserve Bank of India and other countries have shown that gold and silver continue to be a safe haven store of wealth in times of rising inflation. The central bank’s gold reserves jumped from 668.25 … Read moreCentral Banks Continue to Buy Gold throughout 2021
Federal Open Market Committee 2023 Agenda
The Federal Open Market Committee is the part of the Federal Reserve that is responsible for managing open market operations. The FOMC uses the three primary tools to influence the direction of the economy. The Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks. This gives … Read moreFederal Open Market Committee 2023 Agenda
JP Morgan Chase Paid $920 Billion Fine in Precious Metals Fraud Scheme Spanning 10 Years
In 2020, JP Morgan Chase admitted that it scammed precious metals investors of billions of dollars by rigging the markets for more than ten years. To avoid prosecution, the company agreed to pay almost $1 billion in fines for schemes related to defrauding precious metals futures exchanges and US Treasuries. Rumors and speculation have circulated … Read moreJP Morgan Chase Paid $920 Billion Fine in Precious Metals Fraud Scheme Spanning 10 Years
Is Owning Precious Metals Legal?
On April 5, 1933 President Franklin Roosevelt signed Executive Order 6102 which outlawed the private ownership of gold by citizens.
For a duration lasting 41 years in the mid-20th century, the government made it a crime for the people to own, hold or transact in sound money.
Following the resignation of Nixon, one of the first laws signed by President Ford included a bill which reversed Roosevelt’s Executive Orders.
It has been legal for anyone to own, hoard, buy and sell gold in the United States since December 1, 1974.
Tuvalu Pleas For Help
The COP26 Climate Summit is underway in Glasgow, Scotland this week. In a dramatic plea for awareness of the effects of climate change, Tuvalu’s foreign minister, Simon Kofe presented his speech to the group while standing knee-deep in seawater near the shores of an atoll in the Polynesian nation. Tuvalu is a tiny nation in the South … Read moreTuvalu Pleas For Help
Wildcat Gold Mining Is Devastating the Amazon
garimpo – a small-scale, informal gold, diamond, and tin placer mining campWildcat gold mining continues to be a problem. It’s estimated that there are as many as 5,000 illegal small-scale gold mining camps scattered throughout the Brazilian Amazon.The wildcat miners that operate small-scale gold mining camps in the Brazilian Amazon are known as garimpeiros. Across the centuries, garimpeiros have scoured … Read moreWildcat Gold Mining Is Devastating the Amazon
US Mint Clarifies Statement Regarding Global Silver Shortage
The US Mint released a statement confirming a global shortage of silver after the website outages during the pre-sale of the 2021 Morgan Dollar commemorative coins. “The global silver shortage has driven demand for many of our bullion and numismatic products to record heights. This level of demand is felt most acutely by the Mint … Read moreUS Mint Clarifies Statement Regarding Global Silver Shortage