India's March gold imports to drop 90% as prices surge, sources tell Reuters
Submitted by admin on Thu, 2024-03-28 10:55 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Wednesday, March 27, 2024
MUMBAI -- India's gold imports are set to plunge by more than 90% in March from the previous month to hit their lowest level since the COVID pandemic as banks cut imports after record-high prices hit demand, a government official and two bank dealers told Reuters.
Lower imports by India, the world's second biggest consumer of the precious metal, could limit a rally in global prices that hit a record high earlier this month on expectations that the Federal Reserve will cut interest rates this year.
Jim Rickards: Why gold is the everything hedge
Submitted by admin on Wed, 2024-03-27 19:32 Section: Daily DispatchesBy James G. Rickards
The Daily Reckoning, Baltimore
Wednesday, March 27, 2024
Excerpted from his commentary tonight at The Daily Reckoning, "Gold Is the Everything Hedge":
https://dailyreckoning.com/goldilocks-is-gonna-get-it/
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Gold prices are being driven higher by U.S. threats to steal $300 billion in U.S. Treasury securities from the Russian Federation. Those assets were legally purchased by the Central Bank of Russia as part of their reserve position.
Federal Reserve refuses to provide records of foreign gold holdings
Submitted by admin on Wed, 2024-03-27 15:41 Section: Daily DispatchesBy Ken Silva
Headline USA, Charlotte, North Carolina
Wednesday, March 27, 2024
Weeks after Federal Reserve Chairman Jerome Powell evaded a congressman's questions about the central bank's foreign gold holdings, the Fed has also declined to comply with a Freedom of Information Act request for records about such holdings.
The Federal Reserve's lack of transparency comes amid reports that countries are removing their gold and other assets from the U.S. in the wake of the unprecedented Western sanctions imposed on Russia over its invasion of Ukraine.
Secret national police report warns Canadians may revolt once they realize how broke they are
Submitted by admin on Wed, 2024-03-27 11:53 Section: Daily DispatchesWhen Americans discover the same thing, their revolt may make Canada's seem like a tea party.
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By Tristin Hopper
National Post, Toronto
Wednesday, March 20, 2024
A secret Royal Canadian Mounted Police report is warning the federal government that Canada may descend into civil unrest once citizens realize the hopelessness of their economic situation.
Switch to gold standard could stabilize prices, Philly Fed researchers find
Submitted by admin on Tue, 2024-03-26 16:47 Section: Daily DispatchesFrom Central Banking, London
Tuesday, March 26, 2024
Long-run price stability could be a key feature of the gold standard, researchers with the Federal Reserve Bank of Philadelphia find.
In their working paper, published in February, Jesus Fernandez-Villaverde and Daniel Sanches explore how the gold standard would operate as a monetary framework in a hypothetical small open economy.
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World Bank publishes 'Gold Investing Handbook for Asset Managers'
Submitted by admin on Tue, 2024-03-26 12:47 Section: Daily Dispatches12:47p ET Tuesday, March 26, 2024
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs today points out that the World Bank, a Washington-based international entity that seems intended in large part to keep the developing world tied to the U.S. dollar, has just published its "Gold Investing Handbook for Asset Managers."
The handbook doesn't seem to mention gold market manipulation by central banks but at least it's recognition of the metal's growing acceptance as money by financial establishment types.