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Daily Dispatches

Hong Kong's wealthy move gold out of city on security law fears

Section: Daily Dispatches

By Primrose Riordan
Financial Times, London
Friday, August 7, 2020

Hong Kong's wealthy are moving increasing amounts of their gold out of the financial hub after Beijing imposed a new national security law on the city last month, dealers in the precious metal say.

Pam and Russ Martens: Fed chairman handles government and personal business with BlackRock

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Friday, August 7, 2020

Earlier this year Wall Street On Parade reported that the chairman of the Federal Reserve, Jerome Powell, had an upward range of $11.6 million invested with the investment management firm BlackRock and its iShares Exchange Traded Funds, according to Powell's 2019 financial disclosure form.

Record bullion prices give South African gold miners a lifeline while risks remain

Section: Daily Dispatches

By Tanisha Heiberg and Promit Mukherjee
Reuters
Friday, August 7, 2020

JOHANNESBURG -- South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.

Jan Nieuwenhuijs: U.S. dollar devalues by 99% vs. gold in 100 years

Section: Daily Dispatches

By Jan Nieuwenhuijs
Voima Gold, Helsinki
Thursday, August 6, 2020

A world reserve currency is supposed to be superior in storing value, but through boundless money printing the U.S. dollar hasn't been able to compete with gold by a long shot. In 1932 the gold price was $20.67 dollars per troy ounce. Today it crossed $2,067 dollars.

Pam and Russ Martens: Sri Lanka is top user of Fed emergency lending program

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Thursday, August 6, 2020

At Fed Chairman Jerome Powell's press conference on July 29, he persisted in his explanation that all the Fed's bailout programs are really about helping the American people get back on their feet. Here's one more, among a growing mountain, of reasons to question that.

China and Russia ditch dollar in move toward 'financial alliance'

Section: Daily Dispatches

By Dimitri Simes
Nikkei Asian Review, Tokyo
Thursday, August 6, 2020

MOSCOW -- Russia and China are partnering to reduce their dependence on the dollar -- a development some experts say could lead to a "financial alliance" between them.

John Authers: Gold is expensive, and may be just warming up

Section: Daily Dispatches

By John Authers
Bloomberg News
Thursday, August 6, 2020

As I write, gold has surged to yet another record, topping $2,050 per ounce. Is it overpriced?

Mainstream news organization can't avoid a positive report about gold

Section: Daily Dispatches

Stunned by Gold's Record Rise? There's More to Come, Analysts Say

By Peter Hobson
Reuters
Wednesday, August 5, 2020

LONDON -- The speed at which gold has broken above $2,000 an ounce has left some in the market fearing a correction, but many analysts predict more gains as the coronavirus crisis spurs investors to buy into bullion's relative safety.

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