Daily Gold Market Report

Nebraska’s New Financial Legislation:
Embracing Gold and Silver, Excluding Digital Currencies

(USAGOLD – 5/1/2024) Gold prices are are experiencing slight, corrective increases following significant losses earlier in the week, as many markets await the outcome of this afternoon’s FOMC meeting. Gold is trading at $2301.00, up $14.75. Silver is trading at $26.48, up 18 cents. Nebraska has recently taken a significant step in its financial legislation by ending capital gains taxes on gold and silver sales, making it the 12th state to do so. This move, facilitated by the signing of LB 1317 by Governor Jim Pillen, aims to encourage the use of gold and silver as a hedge against the dollar’s devaluation without the penalty of capital gains taxes. The legislation also includes a provision that explicitly excludes central bank digital currencies (CBDCs) from the state’s definition of lawful money. This decision reflects a growing concern over the potential risks associated with CBDCs, such as increased financial surveillance and control. Nebraska’s stance on gold, silver, and CBDCs aligns with actions taken by other states and is part of a broader movement towards reevaluating the role of traditional and digital currencies in the financial system. Nebraska joins Utah, Wisconsin, Kentucky, South Dakota, and Tennessee as states to have enacted pro-sound money legislation into law so far in 2024.