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Daily Dispatches
Saudi Arabia open to settling trade without U.S. dollars
Submitted by admin on Tue, 2023-01-17 22:29 Section: Daily DispatchesBy Abeer Abu Omar and Manus Cranny
Bloomberg News
Tuesday, January 17, 2023
Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom’s finance minister.
"There are no issues with discussing how we settle our trade arrangements, whether it is in the U.S. dollar, whether it is the euro, whether it is the Saudi riyal," Mohammed Al-Jadaan told Bloomberg TV today in an interview in Davos, Switzerland.
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Trafigura plans to take large amounts of LME copper, sources tell Reuters
Submitted by admin on Tue, 2023-01-17 21:56 Section: Daily DispatchesHow rude not to trust the London Metals Exchange!
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By Pratima Desai
Reuters
Tuesday, January 17, 2023
LONDON -- Commodity trader Trafigura is planning to take large amounts of copper from London Metal Exchange registered warehouses, two people familiar with the matter said, adding that the metal was likely to remain in Europe.
Barrick misses gold guidance as output sinks to 22-year low
Submitted by admin on Tue, 2023-01-17 21:35 Section: Daily DispatchesBy Jacob Lorine
Bloomberg News
Tuesday, January 17, 2023
Barrick Gold Corp.'s bullion output slid last year to its lowest level since 2000, missing analysts' expectations and its own target as operational woes curbed production.
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Craig Hemke at Sprott Money: No hedge fund interest in Comex silver
Submitted by admin on Tue, 2023-01-17 21:19 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, January 17, 2023
What a curious start to the year in Comex Digital Gold and Comex Digital Silver. The pair usually trade in tandem but, so far in 2023, prices have been moving in opposite directions. And it's not just price. As you'll see in this post, it's also sentiment and interest as measured by the total amount of silver contracts floating around on the Comex.
Sound money legislation introduced in Mississippi
Submitted by admin on Mon, 2023-01-16 21:57 Section: Daily DispatchesFrom Money Metals News Service
Eagle, Idaho
Monday, January 16, 2023
Lawmakers in Jackson, Mississippi, have just introduced legislation to exempt gold and silver coins, bars, and rounds from the state's sales tax.
Rep. Jill Ford has reintroduced House Bill 508 at the beginning of the 2023 session.
This year's legislative effort seeks to build on last year's momentum. Last year Ford's sales tax exemption bill passed out of the Mississippi House of Representatives overwhelmingly but it missed a deadline in the Senate needed to receive a hearing.
41,000 metric tonnes of fuel delivered to Ghana in exchange for gold
Submitted by admin on Mon, 2023-01-16 14:15 Section: Daily DispatchesBy Donald Ato Dapatem
Graphic Online, Accra, Ghana
Monday, January 16, 2023
The first consignment from the gold-for-oil policy of the government to stem the increasing depreciation of the cedi against the major currencies has arrived at the Tema Port and been discharged into the receptacles of Bulk Oil Storage and Transportation Co. (BOST), Graphic Online has gathered.
The 41,000 metric tonnes of the petroleum products delivered by SCF YENISEI would be sold by BOST to bulk distributing companies (BDCs) around Ghana, a source has told Graphic Online.
Bullion dealer Schectman reviews trend away from dollar, praises GATA
Submitted by admin on Mon, 2023-01-16 11:54 Section: Daily Dispatches11:53a ET Monday, January 16, 2023
Dear Friend of GATA and Gold:
Interviewed last week by Dunagun Kaiser of Liberty and Finance, Andy Schectman of coin and bullion dealer Miles Franklin reviewed the world's steady migration toward the monetary metals and commodities and away from the U.S. dollar in anticipation of a transformation of the international financial system. Schectman also discusses what he considers excessive premiums for U.S. silver eagle coins as compared with other silver products.
Zimbabwe discovers its gold money may work; IMF wants it to stop
Submitted by admin on Mon, 2023-01-16 11:09 Section: Daily DispatchesZimbabwe's Gold Coins Sell Above $2,000 Each For The First Time
By Ray Ndlovu and Rene Vollgraaff
Bloomberg News
Monday, January 16, 2023
Zimbabwe's gold coins introduced in July are selling above $2,000 for the first time.
South China Morning Post: China and Russia are 'almost certainly' weaponizing gold
Submitted by admin on Sat, 2023-01-14 18:36 Section: Daily DispatchesMove Over, Cryptocurrency -- Gold Could Have the Last Laugh This Year
By Anthony Rowley
South China Morning Post, Hong Kong
Sunday, January 15, 2023
There has been considerable excitement in the gold market lately with the price touching US1,900 an ounce last year and appearing likely to breach US$2,000 before long. But what is happening below the radar with the huge buildup of central bank gold holdings is of greater interest.
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Gold giant JPMorgan may move into precious metals clearing in Zurich
Submitted by admin on Sat, 2023-01-14 10:14 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Thursday, January 12, 2023
JPMorgan Chase & Co. is looking to start clearing precious metals trades in Zurich, something that for years has been dominated by just two Swiss banks.
The lender may begin to offer to settle its clients’ trades using metal located in Zurich, according to people familiar with the matter who asked not to be identified as the information is private.
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