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A bill introduced in the Alaska House would exempt gold and silver bullion from local sales tax and make them both legal tender in the state. Ending the sales tax would relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
Business school professor Greg Harmon says investors should consider gold and silver as portfolio diversifiers in 2023. Gold and silver were among the best-performing assets in 2022. As Wall Street suffered through its worst year since 2008, gold eked out a small gain on the year.
Rising consumer debts colliding with rising interest rates is a ticking time bomb. Over the last several months, consumer debt has climbed at a steep, steady pace as Americans struggle with rising prices. November was no different, with consumers piling on another $27.9 billion in debt.
Despite market headwinds, gold managed to post a small gain in 2022 thanks to a strong rally in December. Gold gained 3% in the final month of the year, driving the price of the yellow metal to $1,814 an ounce to close out 2022. This represented a 0.4% gain on the year.
Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.
A bill introduced in the Missouri Senate for the 2023 legislative session would take important steps toward treating gold and silver as money instead of as commodities and would set the stage for currency competition in the Show-Me State.
One of the benefits of owning physical gold and silver is there is no counterparty risk.
Silver demand in 2022 is expected to chart an all-time high. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Peter Schiff recently said he is very bullish on gold in the year ahead. Obviously, I’ve been bullish for a while. But I’m even more bullish now to the extent that’s possible, based on what’s been happening.” Peter is not alone. Doug Casey also thinks 2023 will be “the year for gold.”
Since 2008, we have been in an era of unprecedented money printing and interest rate suppression. Now the cost of all of that easy money is coming due.
