GATA

Ban on gold imports from Russia seen as 'largely symbolic'

Section: Daily Dispatches

By Ranjeetha Pakiam
Bloomberg News
Sunday, June 26, 2022

The plan by some Group of Seven nations to ban new gold imports from Russia is "largely symbolic" as flows have already been restricted by sanctions, according to analysts. 

The U.S., U.K., Japan, and Canada plan to announce the ban during the G-7 summit that started Sunday in Germany.

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BIS annual report confirms GATA analysis of gold interventions, avoids Russia issue

Section: Daily Dispatches

9:10a Monday, June 27, 2022

Dear Friend of GATA and Gold:

In his latest report on the gold market interventions of the Bank for International Settlements, appended here, GATA consultant Robert Lambourne is far too modest. For the bank's annual report, published Sunday, confirms the accuracy of Lambourne's years of doing monthly calculations of the bank's gold market interventions -- its involvement in gold swaps, about which the bank has been almost completely secret.

BIS urges decisive wave of interest rate increases to halt inflation

Section: Daily Dispatches

By Mac Jones
Reuters
Sunday, June 26, 2022

LONDON -- The central bank umbrella body, the Bank for International Settlements, has called for interest rates to be raised "quickly and decisively" to prevent the surge in inflation turning into something even more problematic.

The Swiss-based BIS has held its annual meeting in recent days, where top central bankers met to discuss their current difficulties and one of the most turbulent starts to a year ever for global financial markets.

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U.S. and allies will ban import of Russian gold

Section: Daily Dispatches

By Zeke Miller and Darlene Superville
Associated Press
Sunday, June 26, 2022

ELMAU, Germany -- President Joe Biden today praised the continued unity of the global alliance confronting Russia, as he and other heads of the Group of Seven leading economies strategized on sustaining the pressure in their effort to isolate Moscow over its months-long invasion of Ukraine.

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

Section: Daily Dispatches

10:33p ET Saturday, June 25, 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. 

China's central bank, BIS set up renminbi liquidity arrangement

Section: Daily Dispatches

By Brenda Goh
Reuters
Saturday, July 25, 2022

https://www.reuters.com/markets/currencies/chinas-central-bank-bis-set-up-renminbi-liquidity-arrangement-2022-06-25/

SHANGHAI -- China's central bank said today it had signed an agreement with the Bank for International Settlements to establish a Renminbi Liquidity Arrangement that will provide support to participating central banks in times of market fluctuations.

Asante