Daily Dispatches

By William Sandlund and Haohsiang Ko
Financial Times, London
Thursday, October 23, 2025

China's overseas lending in renminbi is soaring as Beijing steps up its efforts to expand the currency's role in international finance and reduce the country's exposure to the U.S. dollar.

External renminbi loans, deposits, and bond investments by Chinese banks quadrupled to more than Rmb3.4 trillion ($480 billion) over the past five years, as policymakers more aggressively pursue their long-term goal of reducing the centrality of the dollar in global financial flows.

11p ET Thursday, October 23, 2025

Dear Friend of GATA and Gold (and Silver):
 
Interviewed with Charlotte McLeod of Investing News Network, GATA Board of Directors member Ed Steer, publisher of Ed Steer's Gold and Silver Digest letter, explains why he thinks a sharply rising silver price is inevitable. The short position of the investment banks is too high, he says, and industrial and investment demand is "rapacious."

The interview is 31 minutes long and can be heard at YouTube here:

9:13a ET Thursday, October 23, 2025

Dear Friend of GATA and Gold:

Market analyst Vince Lanci has posted some wonderful commentary at his proprietary internet site --

https://vblgoldfix.substack.com/

-- much of which has been reposted by ZeroHedge today. It's headlined "China Calls Gold Bluff, U.S. Pushes Back" and nails the gold story in a section headlined "Rules of a Managed Market."

Those rules are 1) that gold can go up but not too fast and 2) gold must never receive sustained favorable news coverage.

After Gold's Big Plunge, Here's What History Shows Could Happen Next

By Myra P. Saefong
MarketWatch, New York
via MSN News, Redmond, Washington
Wednesday, October 22, 2025

Gold prices fell again on Wednesday, a day after posting their biggest one-day drop in over a decade -- yet history shows that the plunge is more likely to be followed by a modest move higher. ...

But a look at previous big daily declines for the precious metal -- those of 5% of more -- shows that drops like this one may not have a lasting effect.