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Daily Dispatches
El Salvador lawmakers overturn mining ban
Submitted by admin on Mon, 2024-12-23 17:21 Section: Daily DispatchesBy Thomas Graham
Financial Times, London
Monday, December 23, 2024
El Salvador’s congress overturned a blanket ban on metal mining in a bid to find new sources of economic growth, handing a win to President Nayib Bukele despite criticism over the measure from environmental and religious groups.
The ban, which was the first of its kind in the world, was introduced in 2017 to protect the country's water resources. Bukele, who came to power in 2019, described it as "absurd."
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Gold-backed scholarship program awards $11,500 to nine students
Submitted by admin on Sun, 2024-12-22 20:33 Section: Daily DispatchesBy Jp Cortez
Money Metals News Service, Eagle, Idaho
Friday, December 20, 2024
Nine bright young scholars earned $11,500 to put toward the cost of college through a scholarship program promoting the sound money cause.
The Sound Money Scholarship is an annual essay contest organized by Money Metals Exchange (the U.S. precious-metals dealer ranked "Best Overall") and the Sound Money Defense League, a national public policy group at the forefront of sound money legislative battles across the country since 2014.
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Lambourne and Powell: If China forces gold reset, ETF gold may be most vulnerable
Submitted by admin on Sun, 2024-12-22 12:10 Section: Daily DispatchesBy Robert Lambourne and Chris Powell
Sunday, December 22, 2024
Anyone who has read the reports published by GATA over the years will understand that owning physical gold and silver is the preferred way to hold monetary metals.
No history of gold ownership in the United States would be complete without reference to Executive Order 6102, issued by President Franklin D. Roosevelt in 1933 and meant to confiscate gold owned by the public:
Support GATA financially and get a 1-ounce silver round commemorating the organization's work
Submitted by admin on Thu, 2024-12-19 19:40 Section: Daily Dispatches12:16p ET Sunday, December 24, 2024
Dear Friend of GATA and Gold:
Longstanding Western central bank policy of monetary metals price suppression has never been more vulnerable than it is today.
Governments and central banks around the world have been defecting from the policy this year, accumulating gold and silver instead of lending them.
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Miles Franklin's Andy Schectman interviews GoldMoney founder James Turk
Submitted by admin on Wed, 2024-12-18 14:22 Section: Daily Dispatches2:23p ET Wednesday, December 18, 2024
Dear Friend of GATA and Gold:
GoldMoney founder and monetary metals advocate James Turk is Andy Schectman's guest this week on bullion dealer Miles Franklin's "Little by Little" program. They discuss Turk's long career in international banking and the monetary metals, as well the prospects for a return of constitutional money to the United States.
The program is 58 minutes long and can be viewed at YouTube here:
Alasdair Macleod: Massive Comex deliveries since Thanksgiving
Submitted by admin on Wed, 2024-12-18 11:32 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Wednesday, December 18, 2024
It was a week of two halves for gold and silver prices: rising strongly until Thursday when prices were smashed. ...
A feature of this week’s [last week's] trading was levitated futures premiums over spot, particularly noticeable in silver, which before yesterday's price smash represented a premium over overnight rates of as much as 7% annualized for the active February contract.
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Assad stole what he could but Reuters says he left Syria's gold in central bank's vault
Submitted by admin on Mon, 2024-12-16 16:08 Section: Daily DispatchesSyria Retains 26 Tons of Gold Reserves After Assad's Fall, Sources Tell Reuters
By Timour Azhari and Libby George
Reuters
Monday, December 16, 2024
DAMASCUS -- The vault of Syria's central bank holds nearly 26 tons of gold, the same amount it had at the start of the country's bloody civil war in 2011, even after the chaotic fall of Bashar al-Assad's despotic regime, four people familiar with the situation told Reuters.
But the country has only a small amount of foreign currency reserves in cash, the same people said.
Barrick Gold threatens to suspend Mali operations over blocked exports
Submitted by admin on Mon, 2024-12-16 14:03 Section: Daily DispatchesFrom Reuters
Monday, December 16, 2024
Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said today as it struggles to reach agreement with authorities on a new mining code in the West African country.
Conditions at the miner's Loulo-Gounkoto complex have "deteriorated significantly," Barrick said, adding that employees have been imprisoned without cause and shipments of bullion have been blocked.
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Indonesia's finance authority says country urgently needs a gold bank
Submitted by admin on Mon, 2024-12-16 10:45 Section: Daily DispatchesBy Nabiila Azzahra
Tempo, Jakarta, Indonesia
Sunday, December 15, 2024
Indonesia's Financial Services Authority (OJK) said the need to establish a gold bank in Indonesia is urgent. A gold bank is a form of bullion business activity that is currently being developed by OJK and the government.
The chief executive of the Supervisory Board of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions of OJK, Agusman, explained the urgency of organizing bullion business activities.
Gold's upward revaluation continues and silver is next, Maguire tells LFTV
Submitted by admin on Sat, 2024-12-14 11:41 Section: Daily Dispatches11:40a ET Saturday, December 14, 2024
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, speaking on this week's edition of Kinesis Money's "Live from the Vault" program, says gold's stair-step upward revaluation continues and that silver is setting up for a sharper rise. He adds that President-elect Trump's plans to impose tariffs on countries he deems hostile to the U.S. dollar will boost gold as well.
The program is 40 minutes long and can be viewed at YouTube here:
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