West's suppressed gold price is increasingly arbitraged in East, Maguire says

Section: Daily Dispatches

11:59a Sunday, September 24, 2023

Dear Friend of GATA and Gold:

On Kinesis Money's "Live from the Vault" program this week, London gold trader Andrew Maguire says suppressed Western gold prices are increasingly being arbitraged with higher prices in the East, especially in barter trade for oil in Russia.

Maguire adds that gold is perfect currency for evading Western economic sanctions, especially for oil, and that China is preparing to evade sanctions resulting from the attack it is planning on Taiwan.

Chinese gold buying is driving a paradigm shift in bullion

Section: Daily Dispatches

By Eddie Spence and Yvonne Yue Li
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, September 24, 2023

What determines the price of gold? 

For much of the past decade the answer was easy: the price of money. The lower rates fell, the higher gold climbed, and vice versa.

The gold rush threatening the world's greenest country

Section: Daily Dispatches

Suriname’s waterways and trade winds carry mercury, a toxic metal used in gold extraction, to regions far removed from the country's gold mines

By Bram Ebus and Wilfred Leeuwin
Dialogo Chino, London
Thursday, September 14, 2023

Fast-paced Surinamese men carrying sports bags heavy with gold rush through the entrance of one of the gold shops in the centre of Paramaribo, the capital city of Suriname. 

Jan Nieuwenhuijs: Estimated official gold holdings reach record high

Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Friday, September 22, 2023

My estimation of global official gold reserves hit 38,764 tonnes in Q2 2023, breaking its previous record from 1965. 

The new high confirms the world has entered a new era of gold. Central banks will continue to accumulate gold and the metal's role in the international monetary system will increase to the detriment of the U.S. dollar.

... Dispatch continues below ...


Analyst Luke Gromen joins those expecting a sudden revaluation of gold to reliquefy governments

Section: Daily Dispatches

9:48p ET Friday, September 22, 2023

Dear Friend of GATA and Gold:

While it is a few months old, the March 22 edition of financial analyst Luke Gromen's "The Forest for the Trees" letter remains an outstanding review of, first, the use of derivatives and gold leasing by central banks to control the gold price, and, second, the growing evidence that central banks plan to use the monetary metal to replace the U.S. dollar and U.S. Treasury bonds as the primary settlement mechanism for world trade.

Ted Butler: The bonfire of the silver shorts

Section: Daily Dispatches

By Ted Butler
Thursday, September 21, 2023

After 40 years of silver price manipulation and suppression on the Comex, the physical market has experienced a lack of production growth as well as enhanced demand brought about by too-low silver prices. 

According to the immutable law of supply and demand, silver is now in a deepening physical shortage in which sharply higher prices are both required and inevitable.