GATA

New Czech central bank governor aspires to a huge increase in gold reserves

Section: Daily Dispatches

Incoming Czech Central Bank Chief Wants More Stocks, Gold to Make Bank Profitable

By Jan Lopatka
Reuters via Nasdaq.com
Wednesday, May 25, 2022

PRAGUE, Czech Republic -- The Czech central bank needs to keep interest rates above standard levels, support the government in cutting budget deficits and urge wage restraint to avoid mostly supply-side inflation from spilling to the demand side, incoming Governor Ales Michl said in a magazine interview.

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Giustra repeats belief in gold suppression; Kitco evades in central banker interview

Section: Daily Dispatches

11:51a ET Friday, May 27, 2022

Dear Friend of GATA and Gold:

In an interview this week for his channel at YouTube, Jay Martin of Cambridge House, sponsor of the Vancouver Resource Investment Conference, interviewed mining and entertainment entrepreneur Frank Giustra and got him to repeat his recently expressed belief that the gold price has been manipulated and suppressed, though Giustra says he has only circumstantial evidence, no proof, and doesn't know who is doing the suppression.

India's central bank increases its FY22 gold purchases to 65 tonnes

Section: Daily Dispatches

By Atmadip Ray
The Times of India, Mumbai
Friday, May 27, 2022

The Reserve Bank of India nearly doubled its gold purchase to 65 tonnes in FY22 raising its total holding to 760.42 tonnes, as part of its asset diversification policy with gold showing better performance as a safe asset class during the recent global financial turmoil.

In the nine month period between June 2020 and March 2021, RBI had bought 33.9 tonnes of gold.

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Pam and Russ Martens: At year-end Fed owned 38% of all 10-30-year Treasuries

Section: Daily Dispatches

As a high school graduate said 14 years ago, 'There are no markets anymore, just interventions.'

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By Pam and Russ Martens
Wall Street on Parade
Thursday, May 26, 2022

On Tuesday' the New York Fed's trading desk released its annual report showing what it was up to in 2021. The New York Fed is the only one of the Federal Reserve's 12 regional Fed banks to have a trading desk operation with speed dials to Wall Street's trading houses, so we're always interested in reading the "official" version of what has been happening there.

When buying gold or silver, consider the dealers who support GATA

Section: Daily Dispatches

11:09a Thursday, May 26, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Government isn't competent enough to suppress gold price, Rick Rule tells Kitco

Section: Daily Dispatches

1:22a ET Wednesday, May 25, 2022

Dear Friend of GATA and Gold:

Investment analyst Rick Rule, interviewed yesterday at the Vancouver Resource Investment Conference by Kitco News editor Michelle Makori, acknowledged that the gold futures market is "ripe for manipulation" but dismissed complaints that government has undertaken any schemes to suppress the price of the monetary metal.

Asante