26
Mar 2025
Gold Hits $3,000 — What’s Next?
Spot Price Update: Gold officially crossed the $3,000 per ounce milestone on 3/15/25, marking a historic moment for the precious metals market. Since then, it has been holding steady around that level, reflecting strong investor demand amid global uncertainty.
Gold could hit $4,000 per ounce. Bloomberg Intelligence strategist Mick McGlone, bond market veteran Jeffrey Gundlach and others have all shared this price target recently.
Silver has also shown impressive strength, recently holding above $33 per ounce This is above a key technical level that was signaled in our last issue of The Gold Standard. Technical analysts point to a decades-long cup and handle pattern going back to 1980 that suggests silver could re-test the $50 historical high. The chart setup is unmatched in duration among real assets today.
For the latest spot pricing and performance charts, click here.
Utah Goes for Gold: $60M Investment and First-in-the-Nation Payment System in the Works: Utah has quietly amassed $60 million in gold as part of a bold diversification strategy for its $1.4 billion rainy day fund, thanks to legislation led by Rep. Ken Ivory. The state could soon go further, with House Bill 306 (HB306) passed 3/18/25—awaiting Governor Spencer Cox’s signature—positioning Utah as the first to allow state contractors to be paid in gold.
Idaho Recognizes Gold and Silver as Legal Tender: The Idaho Legislature passed House Bill 177 (HB177) on 3/17/25, designating gold and silver bullion as legal tender within the state. The bill specifies that while these precious metals are recognized for transactions, they require mutual agreement. This aligns with Article I, Section 10 of the U.S. Constitution, allowing states to adopt gold and silver as payment for debts, and provides an alternative to fiat currency amid economic uncertainties.
Wyoming Establishes $10 Million Gold Reserve: Wyoming passed the Wyoming Gold Act (SF0096) on 2/24/25, mandating the state treasurer to invest at least $10 million in physical gold and silver as part of the state's Permanent Mineral Trust Fund. The legislation aims to diversify Wyoming's investment portfolio, hedge against inflation, and safeguard against economic uncertainties. Additionally, the Department of Revenue is tasked with studying methods for the state to accept gold and silver as payment, with findings due by October 1, 2025.
Past performance is not indicative of future results.
Gold could hit $4,000 per ounce. Bloomberg Intelligence strategist Mick McGlone, bond market veteran Jeffrey Gundlach and others have all shared this price target recently.
Silver has also shown impressive strength, recently holding above $33 per ounce This is above a key technical level that was signaled in our last issue of The Gold Standard. Technical analysts point to a decades-long cup and handle pattern going back to 1980 that suggests silver could re-test the $50 historical high. The chart setup is unmatched in duration among real assets today.
For the latest spot pricing and performance charts, click here.
Utah Goes for Gold: $60M Investment and First-in-the-Nation Payment System in the Works: Utah has quietly amassed $60 million in gold as part of a bold diversification strategy for its $1.4 billion rainy day fund, thanks to legislation led by Rep. Ken Ivory. The state could soon go further, with House Bill 306 (HB306) passed 3/18/25—awaiting Governor Spencer Cox’s signature—positioning Utah as the first to allow state contractors to be paid in gold.
Idaho Recognizes Gold and Silver as Legal Tender: The Idaho Legislature passed House Bill 177 (HB177) on 3/17/25, designating gold and silver bullion as legal tender within the state. The bill specifies that while these precious metals are recognized for transactions, they require mutual agreement. This aligns with Article I, Section 10 of the U.S. Constitution, allowing states to adopt gold and silver as payment for debts, and provides an alternative to fiat currency amid economic uncertainties.
Wyoming Establishes $10 Million Gold Reserve: Wyoming passed the Wyoming Gold Act (SF0096) on 2/24/25, mandating the state treasurer to invest at least $10 million in physical gold and silver as part of the state's Permanent Mineral Trust Fund. The legislation aims to diversify Wyoming's investment portfolio, hedge against inflation, and safeguard against economic uncertainties. Additionally, the Department of Revenue is tasked with studying methods for the state to accept gold and silver as payment, with findings due by October 1, 2025.
Past performance is not indicative of future results.
