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Law would let Idaho state treasurer invest in gold, silver

Idaho Statehouse
Posted at 11:59 AM, Feb 10, 2021
and last updated 2021-02-16 18:09:25-05

BOISE, Idaho — Legislation to allow the Idaho treasurer to invest in gold and silver that must be physically stored in Idaho is heading to the full House.

The House State Affairs Committee approved the legislation Tuesday that Republican Rep. Ron Nate says is a great way to protect against inflation. Opponents say that precious metals as an investment are volatile, and there are much better investments to protect against inflation.

Opponents also say it will cost money to get the gold and silver to Idaho and then have ongoing costs to store it in a safe place.