India plans 'gold savings accounts' to reduce demand for real metal -- and thus its price

Section: Daily Dispatches

How stupid does the government think its people are? Comprehensively stupid.

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Gold Savings Accounts Likely to Check Widening Current Account Deficit

By Sutanuka Ghosal
The Times of India, Mumbai
Saturday, January 22, 2022

The case for 'digital gold' unravels as bitcoin's plunge deepens

Section: Daily Dispatches

By Akayla Gardner
Bloomberg News
Friday, January 21, 2021

The argument Bitcoin is a form of "digital gold" is falling apart.

As the largest cryptocurrency slips to $38,000, the lowest price since August, its decline in tandem with risk assets such as tech stocks is casting a shadow on a long-touted similarity to gold. 

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Emirates take on LBMA with launch of UAE Good Delivery Standard for gold

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Friday, January 21, 2022

In the ongoing tug of war between the gold trading centres of, on the one hand, the United Arab Emirates, and, on the other, the axis of London-Switzerland, the UAE has now thrown down the gauntlet with the launch of a UAE Good Delivery Standard for gold, a system that will go into effect in February.

Import duty on gold may be slashed in India's budget

Section: Daily Dispatches

By Annapurna Singh
Deccan Herald, Bengalore, India
Friday, January 21, 2022

The government may reduce import duty on gold in the Union budget to curb the exponential rise in smuggling that has not only impacted the government's tax revenues but also the export of gems and jewellery from the country. 

Oklahoma to consider investing state funds in gold and silver

Section: Daily Dispatches

By JP Cortez
Money Metals News Service, Eagle, Idaho
Thursday, January 20, 2022

An Oklahoma state representative today introduced legislation that would enable the state treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver.

Introduced by Rep. Sean Roberts, HB 3681 would include physical gold and silver, owned directly, to the list of permissible investments the state treasurer can hold. 

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New York Sun: The Fed and crypto -- back to basics

Section: Daily Dispatches

From The New York Sun
Thursday, January 20, 2022

Could the announcement that the Federal Reserve is weighing "the pros and cons" of issuing a "digital currency" be a chance to move to center stage the question of monetary reform? 

That is our optimistic interpretation of the discussion paper issued this afternoon by the central bank. For it will soon be confronted with the question of how a digital dollar might, or might not, be defined -- and who defines it.

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