Alasdair Macleod: Gold and silver begin their move
Submitted by admin on Sat, 2026-08-08 08:42 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Friday, August 7, 2026
Investors increasingly suspect that financial markets might be radically mispriced, and nowhere is this truer than for precious metals.
In terms of the evolution of gold and silver prices, markets appear to be in a similar position to where they were in December 1973, after OPEC first hiked its reference price and before the second larger increase.
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China's gold reserves rise by most since October 2023 as buying pace quickens
Submitted by admin on Fri, 2026-08-07 09:35 Section: Daily DispatchesBy Qiaoyi Li, Liz Lee, and Dylan Duan
Reuters
Friday, August 7, 2026
China's central bank stepped up its gold purchases for a fifth straight month in July, adding the most bullion to its reserves since October 2023, official data showed today.
The People's Bank of China extended its gold-buying run to a 21st consecutive month, with reserves rising to 76.08 million fine troy ounces at the end of July from 75.44 million a month earlier.
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Yen intervention showed dollar's dominance is slipping
Submitted by admin on Fri, 2026-08-07 09:09 Section: Daily DispatchesBy Joseph Adinolfi
MarketWatch, New York
Thursday, August 6, 2026
President Donald Trump and Treasury Secretary Scott Bessent chalked up last week's historic joint intervention to support the yen as a friendly gesture in support of an ally.
Wall Street analysts later explained that the real motivation was likely to protect the Treasury market, just as volatility was starting to tick higher.
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China is moving some gold from London to new Hong Kong trading hub
Submitted by admin on Fri, 2026-08-07 09:01 Section: Daily DispatchesChina's Central Bank Adds Gold in Hong Kong to Support Hub
From Bloomberg News
Thursday, August 6, 2026
China's central bank is stockpiling more gold in Hong Kong, according to people familiar with the matter, in a move that's likely to support the city’s push to become a major bullion-trading hub.
The People's Bank of China has built up inventories in Hong Kong over the past few months, said the people, who asked not to be named discussing private matters.
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African countries are souring on the dollar
Submitted by admin on Thu, 2026-08-06 12:11 Section: Daily DispatchesFrom The Economist, London
Thursday, August 6, 2026
Congo bans export of copper and cobalt concentrates, Reuters says
Submitted by admin on Thu, 2026-08-06 10:15 Section: Daily DispatchesBy Ange Adihe Kasongo and Maxwell Akalaare Adombila
Reuters
Thursday, August 6, 2026
KINSHASA, DR Congo -- The Democratic Republic of Congo has banned exports of copper concentrate and cobalt concentrate as it escalates efforts to force domestic processing and retain more value from its mineral resources, a government order reviewed by Reuters today shows.
