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Daily Dispatches

Ed Steer's 'Gold & Silver Digest' commentary posted in the clear at SilverSeek

Section: Daily Dispatches

12:14p ET Wednesday, May 19, 2021

Dear Friend of GATA and Gold:

GATA board member Ed Steer's subscriber commentary from Saturday's edition of his Gold & Silver Digest letter (https://edsteergoldsilver.com), taking note of the new vigor in gold and silver prices, is posted in the clear at SilverSeek here:

https://silverseek.com/article/positive-close-precious-metals-friday

Canada's Centerra pursuing 'all measures' after Kyrgyzstan gold mine seizure, CEO says

Section: Daily Dispatches

By Jeff Lewis
Reuters
via Yahoo News, Sunnyvale, California
Tuesday, May 18, 2021

TORONTO -- Canada's Centerra Gold is taking all measures possible to protect shareholder rights and is seeing good support from the Canadian and UK governments, Chief Executive Scott Perry said today, a day after Kyrgyzstan seized control of the company's Kumtor gold mine.

Kyrgyzstan's parliament voted Monday to seize control of the gold mine, the country's largest, after Centerra said it would take the government to an international court. ...

Canadian consumer prices rise at fastest pace in a decade

Section: Daily Dispatches

By Shelley Hagan
Bloomberg News
Wednesday, May 19, 2021

Consumer prices in Canada climbed at the fastest rate in a decade, outpacing estimates and potentially fueling concerns that the country -- much of which is still in lockdown -- is entering a period of persistent inflation.

Annual inflation accelerated to 3.4% in April, compared with 2.2% in March, Statistics Canada reported today in Ottawa. That exceeded economist predictions of a 3.2% annual pace. On a monthly basis, inflation rose 0.5% versus the 0.2% economists were expecting. ...

Bitcoin slides below $40,000 after China's new crypto ban

Section: Daily Dispatches

Governments will have a harder time destroying gold, but they have been working on it for longer than cryptocurrencies have been around, and no escape from government control of money is likely to be easy.

* * *

By Sujata Rao and Tommy Williams
Reuters
Wednesday, May 19, 2021

Bitcoin tumbled below the $40,000 mark today to a 3-1/2 month low as selling in digital coins intensified after China banned financial and payment institutions from providing cryptocurrency services.

Centerra Gold seeks arbitration over Kyrgyzstan gold mine

Section: Daily Dispatches

By Paolo Sorbello
The Diplomat, Washington, D.C.
Monday, May 17, 2021

A new law, rushed through the Kyrgyzstan parliament, could pose new threats to the business activity of the country's largest gold mine operator, the latest of an endless series of disputes around the country's most profitable enterprise. Now the company is seeking arbitration to resolve the ongoing dispute.

Proposed gold exchange in India wouldn't allow 'paper' gold

Section: Daily Dispatches

SEBI Proposes Framework for Gold Exchange, Suggests Electronic Receipts

From the Press Trust of India
via Business Standard, New Delhi
Monday, May 17, 3021

India's markets regulator, the Securites and Exchange Board of India (SEBI), today proposed an elaborate framework for setting up a gold exchange wherein the yellow metal will be traded in the form of electronic gold receipts and will help in having a transparent domestic spot price discovery mechanism.

Central banks seek out riskier assets for reserves in yield drought -- and gold is on their list

Section: Daily Dispatches

By Tommy Stubbington
Financial Times, London
Monday, May 17, 2021

Central bankers who manage foreign currency reserves have been turning to new — and riskier — investments to compensate for the global collapse in bond yields ushered in by the pandemic, according to a new survey.

In world's top copper region, political risk rises

Section: Daily Dispatches

By Marco Aquino and Fabian Cambero
Reuters
Monday, May 17, 2021

In South America's copper-rich Andes political risk is rising as high poverty and debt levels amid the COVID-19 pandemic drive potentially sharp policy shifts and put mining wealth into the crosshairs of angry citizens and political leaders.

In No. 1 copper producer Chile, an overhaul of its market-orientated constitution is underway, and it is debating whether to hike royalties on miners. 

... Dispatch continues below ...

Dave Kranzler: Inflation, deficits, and soaring metals have mining stocks ready to launch

Section: Daily Dispatches

By Dave Kranzler
Investment Research Dynamics, Denver
Monday, May 17, 2021

The precious metals market may be starting to figure out that price inflation caused by central bank money printing in the last year -- with the Federal Reserve leading the charge -- is going to become an uncontrollable problem. 

It will become even worse once the stock market and the housing market no longer "absorb" most of the money that has been printed since March 2020.

... Dispatch continues below ...

As gold and silver join commodity boom, try The Calandra Report and help GATA

Section: Daily Dispatches

10:41a ET Monday, May 17, 2021

Dear Friend of GATA and Gold:

With gold and silver showing strong signs of breaking out at last and the London Bullion Market Association appealing for central bank help to keep monetary metals prices down --

https://gata.org/node/21134

-- interest in gold and silver mining shares is rebounding.

... Dispatch continues below ...


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