Another US state has abolished taxes on precious metals
The governor of Connecticut has abolished the last remaining tax on buyers of gold, silver, platinum, and palladium bars.
(PresseBox) - The reasons why numerous states no longer levy sales tax on monetary metals are always the same. Gold and silver are means of saving, and the purchase of stocks, ETFs or bonds is not taxed either. Monetary metals are not consumed, so sales tax is unfair. Precious metal buyers usually purchase small quantities to protect themselves against inflation. Until now, purchases under $1,000 were taxed in Connecticut, while larger purchases were exempt. Recently, similar successful legislative projects have been enacted in Wyoming, Idaho, and Alabama.
In Kentucky, a law was passed this year to completely exempt precious metals from sales tax. Inflation and geopolitical crises are encouraging savers to buy precious metals. Citizens should be protected from progressive currency devaluation. Small savers are still affected in California, Florida, New Jersey, New York, and Massachusetts. A total of 46 US states have now partially or completely exempted gold and silver from sales tax.
Concerns about inflation and the loss of control by central banks have now spread to investors worldwide. But it is not only gold that is increasingly attracting the attention of investors; silver also appears to be gaining ground. Currently, one ounce of gold can buy just under 88 ounces of silver. Since 1970, the average ratio has been 60 ounces of silver to gold. Silver therefore appears to be undervalued.
The outlook for this precious metal, which is around half industrial, is excellent due to rising demand from industry. In addition to physical investment, there is also the option of investing in solid stocks.
One example is Skeena Gold & Silver - https://www.commodity-tv.com/ondemand/companies/profil/skeena-gold-silver-ltd/ -. The company is developing a gold-silver project in British Columbia and has two former production projects in its sights.
Equinox Gold - https://www.commodity-tv.com/ondemand/companies/profil/equinox-gold-corp/ - also owns gold and silver in its projects in the US and Canada. The company expects to produce up to 915,000 ounces of gold in total by 2025.
Current company information and press releases from Equinox Gold (- https://www.resource-capital.ch/en/companies/equinox-gold-corp/ -) and Skeena Gold & Silver (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Datum: 22.07.2025 - 03:42 Uhr
Sprache: Deutsch
News-ID 724366
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