Daily Gold Market Report

Utah’s Incremental Approach to Sound Money:
A Step-by-Step Strategy

(USAGOLD – 4/22/2024) Gold prices are sharply lower this morning in US trading. The perceived reduction in Middle East tensions has negatively impacted the demand for safe-haven metals. Gold is trading at $2336.16, down $55.77. Silver is trading at $27.34, down $1.35. The article “Utah’s Step-By-Step Strategy in Support of Sound Money” by Mike Maharrey, discusses Utah’s incremental approach to promoting gold and silver as legal tender and fostering a sound money system. Since 2011, Utah has passed a series of laws, starting with the Utah Legal Tender Act, which recognized gold and silver coins as legal tender and exempted them from certain taxes. The state has seen the development of a robust gold and silver market, the establishment of the United Precious Metal Association (UPMA) offering bank-like services using precious metals, and the creation of the Goldback, a local voluntary medium of exchange. In 2024, Utah further supported sound money by authorizing the state to hold precious metal reserves and excluding central bank digital currencies from the state’s definition of legal tender. Maharrey emphasizes the effectiveness of a step-by-step strategy, as advised by the Founders, in achieving monetary reform and establishing a sound money system.

Share

 

advertisement for USAGOLD's Top Gold News and Opinion page

Call USAGOLD's Order Desk at 1-800-869-5115 extension 100USAGOLD's in-depth intro to gold and silver ownership

Market Data by TradingView Delayed data except FOREX

Disclaimer – Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such, USAGOLD does not warrant or guarantee the accuracy, timeliness, or completeness of the information found here. The views and opinions expressed at USAGOLD are those of the authors and do not necessarily reflect the official policy or position of USAGOLD. Any content provided by our bloggers or authors is solely their opinion and is not intended to malign any religion, ethnic group, club, organization, company, individual, or anyone or anything.

Share