Scarcity is holding the gold price up, Maguire and Hemke agree on LFTV

Section: Daily Dispatches

9:30p ET Friday, December 8, 2023

Dear Friend of GATA and Gold:

In Kinesis Money's "Live from the Vault" program this week, London metals trader Andrew Maguire and financial letter writer Craig Hemke agree that scarcity of real metal is supporting and will continue to support the price of gold as the derivatives fraud of the commodity futures market comes apart.

Possession of physical gold and avoidance of "paper" gold are crucial, they agree.

Hemke says some banks and other market participants now are in a position to benefit from a higher gold price.

Watch the New Orleans conference at home and help GATA too

Section: Daily Dispatches

9:24p ET Friday, December 8, 2023

Dear Friend of GATA and Gold:

You missed a lot if you didn't attend the New Orleans Investment Conference last month -- a great city renovating itself, wonderful restaurants, refreshing weather, people who make hospitality a way of life, and, of course, financial commentary from some great minds. (Oh, well, GATA's too.)

Financial Times sneers at monetary gold while touting old jewelry

Section: Daily Dispatches

6:08p ET Friday, December 8, 2023

Dear Friend of GATA and Gold:

Count on the Financial Times to disparage gold and its advocates even when the newspaper is forced by price action to acknowledge that readers might have some interest in the monetary metal.

Today's anti-gold propaganda in the FT posing as an argument for a very limited form of gold ownership comes from Stuart Kirk, who is identified as a former portfolio manager. In an essay titled "The Best Way to Invest in Gold" --

Robert Lambourne: BIS gold swaps rose 47% to 100 tonnes in November

Section: Daily Dispatches

By Robert Lambourne
Friday, December 8, 2023

Trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in November. From information in the BIS statement of account for the month, published recently —

— it is estimated that the volume of the bank’s gold swaps increased in the month by 32 tonnes, from 68 to 100 tonnes, up 47%. 

Craig Hemke at Sprott Money: Just another bullion bank intervention

Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Wednesday, December 6, 2023

In 13 years of monitoring the precious metals, I have seen countless interventions and manipulations in the gold market. Some are obvious and overt, but most are subtle and missed or overlooked by traders and investors. 

What you just saw on Sunday, December 3, was definitely not an intervention of the subtle variety. ...

... For the remainder of the analysis:

Alasdair Macleod: Gold and 'flying money'

Section: Daily Dispatches

By Alasdair Macleod
Head of Research, GoldMoney, Toronto
Thursday, December 7, 2023

"Flying money" was the Chinese term for paper credits between merchants in the Tang dynasty, adopted by Emperor Hien-Tsung as the first example of a government paper currency. Today economists confuse "flying money" with real money, which is physical gold.