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Daily Dispatches
Asia's central banks snap up gold in 'new normal' to reduce risk from U.S. dollar
Submitted by admin on Mon, 2023-12-18 13:27 Section: Daily DispatchesBy Biman Mukherji
South China Morning Post, Hong Kong
Monday, December 18, 2023
Gold's lustre has endured timelessly for Asian buyers, and its central banks too are now following suit to snap up the commodity amid de-dollarisation -- a move to reduce exposure risk to the U.S. dollar.
Fears about their assets being vulnerable, following the U.S. seizure of Russia's foreign exchange reserves of US$650 billion in February last year, have triggered a buying wave by central banks, said a Sprott Asset Management report this month.
Weekend edition of Ed Steer's Gold and Silver Digest posted at SilverSeek
Submitted by admin on Sun, 2023-12-17 18:22 Section: Daily Dispatches6:20p ET Sunday, December 17, 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 "Huge Physical In/Out Movements in Gold and Silver" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
Elliott gets permission to appeal loss to LME in nickel case
Submitted by admin on Sun, 2023-12-17 10:15 Section: Daily DispatchesBy Pei Li
Bloomberg News
Sunday, December 17, 2023
Hedge fund Elliott Associates was granted permission to appeal its loss in court against the London Metal Exchange over a nickel squeeze, extending the legal battle over the latter's decision last year to cancel billions of dollars worth of trades.
Elliott applied to the English Court of Appeal and was granted permission to appeal the judgment that went in the LME’s favor last month, according to a filing from Hong Kong Exchanges and Clearing Ltd., the parent company of London Metal Exchange.
Ronan Manly: Surging industrial demand for silver will increase 'structural deficit'
Submitted by admin on Sat, 2023-12-16 21:08 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Saturday, December 16, 2023
There has been a significant imbalance in the physical silver market for the last three years with annual silver demand exceeding annual silver supply.
This is a problem, since when silver demand is greater than silver supply, the extra demand (deficit) must be met by eating into the world's finite and limited above-ground silver stockpiles.
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Last Sunday's spike in gold probably was an Eastern warning shot, Maguire says
Submitted by admin on Fri, 2023-12-15 14:03 Section: Daily Dispatches2p ET Friday, December 15, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells Kinesis Money's "Live from the Vault" program that last Sunday night's explosion in the gold price was probably an Eastern-based "warning shot" against the U.S. dollar and U.S. Treasuries, prompting emergency intervention against gold by the U.S. "plunge protection team" to deflect the attack.
The program is 47 minutes long and can be seen at YouTube here:
Rep. Mooney asks about repatriation of foreign gold from New York Fed
Submitted by admin on Thu, 2023-12-14 15:36 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, December 14, 2023
WASHINGTON -- As central banks across the globe continue to scoop up gold bullion for their reserves at record rates, U.S. Rep. Alex Mooney, R-West Virginia, is asking Federal Reserve Chairman Jerome Powell some pressing questions about gold.
Gold currently trades at all-time highs in most currencies. Market insiders claim that Germany's Bundesbank is again seeking to repatriate some of its gold vaulted with the Federal Reserve Bank of New York.
Alasdair Macleod: Underestimating debt traps
Submitted by admin on Thu, 2023-12-14 13:19 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, December 14, 2023
The sharp decline in U.S. Treasury bond yields anticipates a pivot in Federal Reserve policy, which appeared to be justified this week by Chairman Powell's dovish tone. But the Fed is not in control of events.
2024 Sound Money Index highlights problematic states as well as gains
Submitted by admin on Wed, 2023-12-13 11:54 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Wednesday, December 13, 2023
With inflation, debt, and financial instability continuing to make headlines, a new national scorecard exposes Vermont, New Jersey, Maine, and Minnesota as America's absolute worst states for sound money, while Wyoming, South Dakota, Alaska, and New Hampshire came out on top in the rankings.
Chinese pay premium prices for gold as economic outlook dims
Submitted by admin on Tue, 2023-12-12 22:57 Section: Daily DispatchesBy Momoka Matsumoto, Noriyuki Doi, and Hiroki Masuda
Nikkei, Tokyo
Wednesday, December 13, 2023
Strong demand in China has pushed the price of gold there above an international benchmark as investors worry about the economy and currency.
New York gold futures touched a record high of more than $2,100 per troy ounce this month and have hovered around $2,000 since then.
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Clive Maund: Gold and silver outlook after contrived flushout
Submitted by admin on Tue, 2023-12-12 20:16 Section: Daily DispatchesBy Clive Maund
CliveMaund.com
Saturday, December 9, 2023
PM sector investors have just been royally played. First they are encouraged to pile in on gold's breakout to new highs, which occurred when it was already very overbought, and now they are being pressured into barfing their holdings before the sector turns around and then goes on to break out for real.
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