Falling gold prices revive physical demand in key markets
Submitted by admin on Tue, 2024-11-26 23:22 Section: Daily DispatchesBy Polina Devitt and Rajendra Jadhav
Reuters
Tuesday, November 26, 2024
A drop in gold prices this month has drawn in buyers of the metal who had been waiting for the market's lightning rally this year to subside, industry players and analysts said.
Spot gold prices hit a record $2,790.15 per troy ounce on Oct. 31, but are down some 4% so far in November in response to a Republican Party clean sweep in the U.S. election.
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Ronan Manly: Dubai's record-breaking 300-kg gold bar
Submitted by admin on Tue, 2024-11-26 20:06 Section: Daily DispatchesBy Ronan Manly
Tuesday, November 26, 2024
In a city famous for setting records such as the world's tallest building, the Burj Khalifa, a new record-breaking gold bar weighing an incredible 300 kilograms (9,600 troy ounces) has just been produced in Dubai, United Arab Emirates.
At current gold prices, this 300-kg bar is valued at more than US$ 25 million.
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Former Richmond Fed official pleads guilty to insider trading
Submitted by admin on Tue, 2024-11-26 15:07 Section: Daily DispatchesBy Ken Silva
Headline USA, Charlotte, North Carolina
Monday, November 25, 2024
A former official for the Federal Reserve Bank of Richmond pled guilty last week to insider trading after he was caught misappropriating confidential information to execute trades.
The defendant, Robert Brian Thompson, 43, of Mosley, worked as a bank examiner and senior manager with supervisory duties for the Federal Reserve, giving him access to confidential information about financial institutions under the Fed's supervision, including confidential supervisory information.
Alasdair Macleod: U.S. dollar on a gold standard? Not if the gold is gone
Submitted by admin on Tue, 2024-11-26 14:52 Section: Daily Dispatches2:53p ET Tuesday, November 26, 2024
Dear Friend of GATA and Gold:
Market analyst Alasdair Macleod's commentary yesterday at his proprietary internet site at Substack, headlined "U.S. Dollar on a Gold Standard?," seemed so compelling to your secretary/treasurer that he asked permission to share it with you, which Macleod has kindly granted, so it is appended.
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Jan Nieuwenhuijs: Chinese central bank just bought 60 tonnes of gold secretly
Submitted by admin on Tue, 2024-11-26 14:11 Section: Daily DispatchesBy Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Tuesday, November 26, 2024
The People's Bank of China is covertly buying very large amounts of gold, adding upward pressure to a tense gold market.
An explosive cocktail of Western institutional investors and central banks in the East buying gold this year is making the gold price rise sharply. Interest rate cuts and geopolitical strain will sustain this bull market.
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Thanks, Laura Stein and junior miners, for supporting GATA at the New Orleans conference
Submitted by admin on Mon, 2024-11-25 22:29 Section: Daily Dispatches10:39p ET Monday, November 25, 2024
Dear Friend of GATA and Gold:
In its 26 years GATA never has received any help from Newmont Mining or Barrick Gold, but we have made many friends among junior companies pursuing the monetary metals and among the companies assisting them.
Some of these companies sponsored the reception and dinner GATA held during last week's New Orleans Investment Conference with mining industry doyenne Laura Stein, who is known in the business from New Orleans to New Zealand and from Toronto to Tierra del Fuego.
