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Daily Dispatches
Ruble becomes best-performing currency in March, soars to 83 to the dollar
Submitted by admin on Wed, 2022-03-30 10:58 Section: Daily DispatchesBy Krishna Kant
Business Standard, New Delhi, India
Tuesday, March 29, 2022
The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 6% against the U.S. dollar from its lows in the first week of March.
The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7.
All Russia's big exports could soon be in rubles, Kremlin signals
Submitted by admin on Wed, 2022-03-30 10:49 Section: Daily DispatchesBy Guy Faulconbridge
Reuters
Wednesday, March 30, 2022
LONDON -- The Kremlin indicated today that all of Russia's energy and commodity exports could be priced in rubles, toughening President Vladimir Putin's attempt to make the West feel the pain of the sanctions it imposed for the invasion of Ukraine.
With Russia's economy facing its gravest crisis since the 1991 collapse of the Soviet Union, Putin on March 23 hit back at the West, ordering that Russian gas exports should be paid for in rubles.
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Craig Hemke at Sprott Money: Looking ahead to April
Submitted by admin on Tue, 2022-03-29 20:47 Section: Daily DispatchesBy Craig Hemke
TF Metals Report
via Sprott Money, Toronto
Tuesday, March 29, 2022
March has been a wild month for the Comex digital metals, and despite the war in Ukraine, this is not unusua.. But soon we'll turn our attention to April, and we'll wait to see if a renewed rally toward $2,000 gold is forthcoming.
Ted Butler: Another stunning OCC report shows something strange in silver
Submitted by admin on Mon, 2022-03-28 22:59 Section: Daily Dispatches11:12p ET Monday, March 29, 2022
Dear Friend of GATA and Gold:
In analysis posted today at Goldseek, silver market analyst Ted Butler reports "stunning" changes in the monetary metals derivatives positions of U.S. banks as compiled by the U.S. Office of the Comptroller of the Currency.
Biden's trillion-dollar debt reduction barely dents U.S. debt
Submitted by admin on Mon, 2022-03-28 22:25 Section: Daily DispatchesBy Steven T. Dennis
Bloomberg News
Monday, March 28, 2022
President Joe Biden’s budget request highlights shrinking cumulative deficits by more than $1 trillion over the next decade, but that barely makes a dent in the government’s ballooning debt.
Biden’s 10-year outlook still would rack up $14.4 trillion in deficits -- most of it on autopilot -- even after accounting for that $1 trillion in net deficit cuts from new policies like tax increases on the wealthy and corporations.
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1839 gold medal of Revolutionary War general called 'shocking and important discovery'
Submitted by admin on Mon, 2022-03-28 21:55 Section: Daily DispatchesFrom CBS News, New York
Monday, March 28, 2022
When numismatist John Kraljevich of Fort Mill, South Carolina opened a box containing a unique solid gold medal that an auction house asked him to authenticate, his jaw dropped.
"My reaction was somewhere along the lines of, holy (expletive)," Kraljevich said. "As soon as I laid my eyes on it, I knew what it was."
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Brett Arends: Russia just made a case for owning gold -- and nobody noticed
Submitted by admin on Mon, 2022-03-28 21:48 Section: Daily DispatchesBy Brett Arends
MarketWatch, New York
Monday, March 28, 2022
Here's a strong argument for adding some gold bullion to your retirement portfolio right now, alongside those stocks and bonds.
And it comes courtesy of Pavel Zavalny, the head of the Russian parliament.
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Bullion groups launch gold bar database to thwart fraud
Submitted by admin on Mon, 2022-03-28 21:41 Section: Daily DispatchesBy Peter Hobson
Reuters
Monday, March 28, 2022
LONDON -- Two gold industry associations are working with miners, refiners, traders, and shippers to create a database of gold bars in an effort to prevent trade in counterfeit metal and allow buyers of bullion to trace its origin, they said today.
The scheme aims to exclude gold linked to violence and crime from the mainstream market. Gold worth billions of dollars is mined each year in illegal conditions and large amounts are sold by groups including warlords and drug traffickers.
Resuming gold purchases, Russia sets fixed price below world market
Submitted by admin on Mon, 2022-03-28 21:33 Section: Daily DispatchesBy Anna Golubova
Kitco News, Montreal
Monday, March 28, 2022
Russia's central bank resumed its gold purchases from local banks today, but it set a fixed price on the precious metal.
Starting this week the Russian central bank will pay a fixed price of 5,000 roubles ($52) per gram between March 28 and June 30, the bank said on Friday. This is below the current market value of around $68.
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Russia's 'nuclear option' isn't bombs but gold, London trader Maguire says
Submitted by admin on Sat, 2022-03-26 11:55 Section: Daily Dispatches11:55a ET Saturday, March 26, 2022
Dear Friend of GATA and Gold:
Russia, London metals trader Andrew Maguire says in his weekly interview with Shane Morand for Kinesis Money, is moving steadily toward using its "nuclear option" in its conflict with the West over Ukraine. That option, Maguire says, doesn't involve bombs but rather demanding gold as payment for Russia's oil and gas exports.
Western sanctions against Russia, Maguire adds, are tightening gold supplies and putting gold derivatives in danger.
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