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Daily Dispatches
Agnico Eagle CEO mulls move to go big or get small in Australia
Submitted by admin on Mon, 2023-03-06 11:34 Section: Daily DispatchesBy Jacob Lorinc
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, March 6, 2023
Agnico Eagle Mines Ltd. is weighing what to do with its only Australian gold mine after landing two big takeovers within two years that turned the Canadian company into the world’s third-largest gold producer.
Agnico gained an Australian mine as part of its combination with Kirkland Lake Gold Ltd., giving it a foothold into a region beyond its North American focus.
Idaho House votes to authorize state gold and silver holdings
Submitted by admin on Fri, 2023-03-03 21:32 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, March 2, 2023
BOISE, Idaho -- The Idaho State House today approved a bill to enable the State Treasurer to protect state funds from inflation and other financial risks by holding some physical gold and and silver.
State representatives voted 40-29 to pass House Bill 180, the Idaho Sound Money Reserves Act, sending the measure -- introduced by Rep. Barbara Ehardt, R-Idaho Falls, and Sen. Phil Hart, R-Kellogg -- to the Senate for a hearing.
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Robert Lambourne: German central banker notes that gold outperforms the euro
Submitted by admin on Fri, 2023-03-03 14:19 Section: Daily DispatchesBy Robert Lambourne
Friday, March 3, 2023
A powerful endorsement for gold as money came this week from a member of the Executive Board of Germany's Bundesbank, Joachim Wuermeling, who spoke at the press conference in Frankfurt presenting the Bundesbank's annual report for 2022.
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Alasdair Macleod: Interest rates are the silent killer
Submitted by admin on Thu, 2023-03-02 11:32 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, March 2, 2023
This article is about why interest rates and bond yields are rising and why they will continue to rise, threatening to undermine the entire Western banking system.
Rising bond yields are deferring the prospect of a central bank pivot away from fighting inflation to tackling a widely expected recession. Anyway, these expectations wrongly assume that price inflation will fall in a recession, leading to lower interest rates.
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Harmony CEO says gold sector consolidation is 'inevitable'
Submitted by admin on Wed, 2023-03-01 20:48 Section: Daily DispatchesBy Nelson Banya
Reuters
Wednesday, March 1, 2023
Gold mining sector mergers and acquisitions are inevitable due to the need to replace depleting mineral reserves, Harmony Gold Chief Executive Peter Steenkamp said today.
U.S-based Newmont Corp., the world's top gold producer, last month tabled a $16.9 billion bid for Australia's Newcrest Mining, igniting speculation of a new wave of M&A activity in the gold industry.
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USAGold's monthly letter converts to a daily market report
Submitted by admin on Wed, 2023-03-01 13:46 Section: Daily Dispatches1:47p ET Wednesday, March 1, 2023
Dear Friend of GATA and Gold:
USAGold.com is retiring its monthly "News & Views" newsletter and replacing it with what may turn out to be something better -- a daily market report that looks like it will include much of the sort of material that has gone into the monthly newsletter.
The first edition of the USAGold daily market report is here:
Russians probed over gold in Sudan as West competes for influence
Submitted by admin on Mon, 2023-02-27 19:23 Section: Daily DispatchesBy Mohammed Alamin and Simon Marks
Bloomberg News
Monday, February 27, 2023
Dozens of Russians working for a mining company in Sudan are being probed by authorities on suspicion of gold-smuggling, in a potential setback for Moscow's ambitions in the resource-rich North African state.
Sudanese prosecutors arrested one and summoned many more Russian employees for questioning this year, including just before and after Foreign Minister Sergei Lavrov's visit in February, according to people familiar with the events.
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Javier Blas: The myth of the inevitable rise of the petroyuan
Submitted by admin on Mon, 2023-02-27 11:21 Section: Daily DispatchesThe prediction drawn by this commentary may be accurate but the commentary is ridiculous for scorning China for commodity market manipulation as if the U.S. government hasn't been doing the same thing for much longer. That's a subject the writer's news organization dares not touch and a failure that makes this commentary largely propaganda.
* * *
By Javier Blas
Bloomberg News
via The Washington Post
Monday, February 27, 2023
Alasdair Macleod: Central bank digital currencies -- the good, the bad, and the ugly
Submitted by admin on Thu, 2023-02-23 11:54 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, February 23, 2023
There has been much comment over the likelihood that central bank digital currencies will be introduced. In this essay conclude they are unnecessary -- a red herring. But this does allow us to discuss their possible relevance to a new Asian super-currency.
Jan Nieuwenhuijs: Estimating the true size of China's gold reserves
Submitted by admin on Thu, 2023-02-23 11:39 Section: Daily Dispatches11:40a ET Thursday, February 23, 2023
Dear Friend of GATA and Gold:
Gold market analyst Jan Nieuwenhuijs today gives his estimate of the gold reserves held by the People's Bank of China: twice the tonnage officially reported.
Perhaps more important Nieuwenhuijs documents how China's central bank and central banks in Europe appear to be working together to match their gold reserves with their nations' gross domestic product in preparation for some sort of new gold standard or gold price targeting system.
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