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Daily Dispatches
Stefan Gleason: Holding gold yields better returns than mining for it
Submitted by admin on Thu, 2024-08-29 13:39 Section: Daily DispatchesBy Stefan Gleason
Money Metals Exchange, Eagle, Idaho
Thursday, August 29, 2024
With spot gold prices at record highs, investors might expect that shares of precious metals mining companies are also trading at record highs.
By and large, that is not the case.
Mining stocks, as represented by the HUI Gold BUGS Index, are still under water by more than 40% compared to their 2011 highs. And that's despite being pulled up significantly this year by soaring gold and silver prices.
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Burkina Faso nationalizes two gold mines mired in legal dispute
Submitted by admin on Tue, 2024-08-27 19:20 Section: Daily DispatchesBy Harry Dempsey and Aanu Adeoye
Financial Times, London
Tuesday, August 27, 2024
Burkina Faso has struck a deal for about $80 million to nationalize two gold mines that London-listed Endeavour Mining agreed last year to sell to Lilium Mining for more than $300 million.
China's silver takeover may aim to drain the West
Submitted by admin on Mon, 2024-08-26 17:28 Section: Daily DispatchesBy Tim Zyla
Jerusalem Post
Wednesday, August 21, 2024
While the world has been focused on the geopolitical tensions between China and the West, a more subtle battle has been unfolding in the global financial markets.
China, through a series of calculated moves, has been quietly accumulating vast quantities of gold and silver. This move has signaled a potential shift in the global economic landscape and highlights the developing country's need for exorbitant amounts of resources.
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Peru's gold exports to India set to hit record high, official says
Submitted by admin on Sat, 2024-08-24 16:27 Section: Daily DispatchesBy Rajendra Jadhav and Sherin Elizabeth Varghese
Reuters
Friday, August 23, 2024
Peru's gold exports to India are set to jump 36% from a year ago to a record $3 billion in 2024, driven by rising demand from the world's second-biggest consumer, a senior government official said today.
India's gold imports from Peru in the first half of 2024 rose 81% from a year ago to $1.47 billion, Javier Manuel Paulinich Velarde, the Peruvian ambassador to India, told India Gold Conference.
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Central banks continue orderly buying of gold in anticipation of BRICs move, Maguire says
Submitted by admin on Fri, 2024-08-23 22:25 Section: Daily Dispatches10:24p ET Friday, August 23, 2024
Dear Friend of GATA and Gold:
Central banks continue to purchase gold in an orderly way, waiting for the occasional U.S. Federal Reserve-instigated price smashes to load up in anticipation of a formal remonetization of the monetary metal by the BRICs group in October, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
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'World's largest undeveloped gold project' hits milestone in northwest B.C
Submitted by admin on Wed, 2024-08-21 16:53 Section: Daily DispatchesBy Thom Barker
Ashcroft-Cache Creek Journal, Ashcroft, British Columbia, Canada
Wednesday, August 21, 2024
It has been a banner few weeks for Seabridge Gold lately in northwestern British Columbia.
In late July, the company announced the Environmental Assessment Office had designated its flagship KSM project as "substantially started," well in advance of its deadline.
As the rich snap up gold bars, storage vaults brace for business
Submitted by admin on Wed, 2024-08-21 12:12 Section: Daily DispatchesBy Sybilla Gross and Yvonne Yue Li
Bloomberg News
Tuesday, August 20, 2024
Encased in sleek onyx, an enormous vault for storing precious metal soars some 32 meters (105 feet) above Singapore's Changi Airport. For a facility that deals in secrecy and privacy, its sheer mass makes a loud statement about the sudden popularity of owning physical bullion.
James Turk: Is gold overvalued?
Submitted by admin on Tue, 2024-08-20 21:27 Section: Daily DispatchesBy James Turk
Free Gold Money Report
Tuesday, August 20, 2024
Gold may seem overvalued because of the recent record highs in its 6-decade ascent from $35 to $2500, but prices -- like appearances -- can be deceiving. What’s more, the value of any asset is more important than its price.
California-based Oxford Gold disappears with assets of hundreds of investors
Submitted by admin on Mon, 2024-08-19 18:49 Section: Daily DispatchesBy Jeff McDonald
San Diego Union-Tribune
Monday, August 19, 2024
With a fickle stock market and broader economic uncertainty around the globe, Howard and Heather Short were looking for a safe harbor for their savings and financial stability.
The San Diego couple settled on gold.
After months of hearing advertisements promoting the Oxford Gold Group on a local talk radio station, the Shorts began transferring chunks of their retirement portfolio to the Beverly Hills company.
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Gold bars are worth a million dollars for the first time
Submitted by admin on Mon, 2024-08-19 15:19 Section: Daily DispatchesBut what are a million dollars worth?
* * *
By Jack Wittels
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 18, 2024
For the first time ever, a bar of gold is worth a cool one million dollars.
The milestone was reached Friday, when the precious metal’s spot price surpassed $2,500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each one worth more than $1 million. ...
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