Gold prices are positive and hit another early morning all time high on Thursday morning. The price of gold is trading at $2664.83, up $7.03. The price of silver is trading at $32.06, up 25 cents.
Prime Minister Benjamin Netanyahu of Israel has initiated discussions on measures to limit the circulation of black market currency and curb illegal activities. The proposed plan includes restricting private ownership of large amounts of cash alternatives like gold, silver, and coins, as well as potentially phasing out the 200-shekel banknote. These measures aim to combat tax evasion and increase tax revenues by encouraging the use of traceable financial transactions.
The proposal also includes a “voluntary disclosure” campaign to allow tax evaders to declare unreported income without prosecution. By reducing cash use and promoting bank transfers and credit cards, the government hopes to better track illicit transactions. Economists predict that fighting black market money could increase Israel’s tax revenues by $24 to $31 billion by 2030.
