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Daily Dispatches
Private jet loaded with fake gold unfurls a mystery in 2 countries
Submitted by admin on Mon, 2023-08-21 16:05 Section: Daily DispatchesBy Lynsey Chutel and Vivian Yee
The New York Times
Monday, August 21, 2023
When Zambian authorities searched a private jet that arrived from Egypt last week, they found a mysterious trove that included millions of dollars in cash, hundreds of bars of what appeared to be gold, and weapons.
They arrested 12 people, six of them Egyptian citizens, and the haul stirred wild speculation in both countries. Zambian officials launched an inquiry into what they called a gold scam, eliciting a jittery response from Egyptian authorities.
Alasdair Macleod: An old-fashioned credit crunch is here
Submitted by admin on Mon, 2023-08-21 15:48 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Monday, August 21, 2023
Globally, further falls in consumer price inflation are now unlikely and there are yet further interest rate increases to come. Bond yields are already on the rise, and a new phase of a banking crisis will be triggered.
This article looks at the factors that have come together to drive interest rates higher, destabilising the entire global banking system. The contraction of bank credit is in its early stages, and that alone will push up interest costs for borrowers.
A look inside the Singapore government's secret gold vault
Submitted by admin on Sat, 2023-08-19 22:48 Section: Daily DispatchesBy Daniel Seow
Mothership, Singapore
Saturday, August 19, 2023
It's no secret that the Singapore government's reserves are extensive.
The country has a gold vault that forms just one part of the official foreign reserves managed by the Monetary Authority of Singapore, also known as Singapore's central bank.
What is a secret, though, is the location of the vault.
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Dollarizing would re-enslave Argentina, not liberate it
Submitted by admin on Fri, 2023-08-18 20:50 Section: Daily Dispatches8:54p ET Friday, August 18, 2023
Dear Friend of GATA and Gold:
Since there does not seem to have been much news or commentary about gold and silver worth bothering you with for a few days and you might think that GATA was falling asleep at the switch or giving up, maybe you will tolerate some brief commentary from your secretary/treasurer.
Ed Steer: A much better than expected COT report
Submitted by admin on Tue, 2023-08-15 21:00 Section: Daily Dispatches9p ET Tuesday, August 15, 2023
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "A Much Better Than Expected COT Report" and it's posted in the clear at SilverSeek here:
https://silverseek.com/article/much-better-expected-cot-report
Fitch warns it may have to downgrade dozens of banks, including JPM
Submitted by admin on Tue, 2023-08-15 13:57 Section: Daily DispatchesBy Hugh Son
CNBC, New York
Tuesday, August 15, 2023
A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence -- the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase.
The ratings agency cut its assessment of the industry's health in June, a move that analyst Chris Wolfe said went largely unnoticed because it didn't trigger downgrades on banks.
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China's gold prices believed to exceed rest of world's because of import curbs
Submitted by admin on Tue, 2023-08-15 09:15 Section: Daily DispatchesFrom Bloomberg News
via Yahoo News
Tuesday, August 15, 2023
China's gold price is rising against levels in London, a trend that local traders say is due to government curbs on imports of the precious metal.
The Shanghai spot price was more than $40 an ounce higher than that in London on Aug. 14, according to Bloomberg calculations based on exchange data. That's the biggest premium in more than five months, with the gap steadily widening from late June even as consumer demand in China remained sluggish.
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Brien Lundin: You may not know them but you need to listen to them
Submitted by admin on Mon, 2023-08-14 16:33 Section: Daily DispatchesGATA's Bill Murphy and Chris Powell will be among the speakers at the New Orleans Investment Conference.
* * *
By Brien Lundin
Publisher, Gold Newsletter
CEO, New Orleans Investment Conference
Monday, August 14, 2023
I'm excited.
Not by the metals and mining markets, mind you. They're still stuck in the mud.
In fact, gold is testing key support around the $1,900 level once again ... and in the process testing my theory that the metals bottomed in early July.
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Ronan Manly: Poland central bank perfectly understands gold's virtues
Submitted by admin on Sat, 2023-08-12 17:45 Section: Daily Dispatches5:45p ET Saturday, August 12, 2023
Dear Friend of GATA and Gold:
Bullion Star gold analysit Ronan Manly today elaborates on the steady enlargement of the Polish central bank's gold reserves, and his report may be most interesting for quoting the explanation given by the bank's president, Adam Glapinski.
Perfectly incisive as that endorsement is, Manly writes that it is nothing that could ever be written or uttered by U.S. Federal Reserve Chairman Jerome Powell.
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Robert Lambourne: BIS gold swaps rose 16 tonnes in July
Submitted by admin on Sat, 2023-08-12 13:41 Section: Daily DispatchesBy Robert Lambourne
Saturday, August 12, 2023
Active trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in July.
From information in the BIS' June 31 statement of account, published this week, it is estimated that the volume of gold swaps increased to 103 tonnes from the 87 tonnes estimated at June 30, a gain of 16 tonnes.
The July statement of account can be found here:
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