Daily Dispatches

By Robert Lambourne
Thursday, April 8, 2021

This note considers the potential impact of the “Basel 3” regulatory standards of the Bank for International Settlements on the bank’s own gold banking business, which is of interest to gold investors mainly due to the regular trading the BIS does in gold swaps and other derivatives. 

These gold transactions by the BIS are perhaps the most obvious sign of regular and often extensive if usually surreptitious gold trading done by central banks. 

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11:10p ET Wednesday, April 7, 2021

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly writes tonight that the Hungarian central bank's purchase of another 83 tonnes of gold, tripling the national reserves, is a big deal, as it makes the country a major gold holder.

Manly's analysis is headlined "Hungarian Central Bank Boosts Its Gold Reserves by 3,000% in Less Than 3 Years" and it's posted at Bullion Star here:

11:40a ET Wednesday, April 7, 2021

Dear Friend of GATA and Gold:

Word of surreptitious intervention in the gold market by governments and central banks cointinues to get around. The April edition of the German financial magazine Smart Investor publishes a report by Rainer Kromarek, "The Unexpected Decline of the Gold Price," that cites the interventions by the Bank for International Settlements. A PDF copy of the report can be viewed here: 

8:28p ET Tuesday, April 6, 2021

Dear Friend of GATA and Gold:

Writing tonight at Sprott Money, the TF Metals Report's Craig Hemke notes that buying into the "pool" accounts of coin and bullion dealers defeats the primary purpose of owning monetary metals -- security, the certainty that you will have the metal when you need it and won't get stiffed by another fractional-reserve banking system and its counterparty risk.

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