You are here
Gold hits record in Pakistan as economic woes spur buying frenzy
By Faseeh Mangi and Ismail Dilawar
Bloomberg News
Wednesday, December 7, 2022
Gold prices in Pakistan surged to a record as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic conditions will deteriorate further.
"People are looking at banks not clearing payments and fearing the worst," said Khurram Schehzad, chief executive officer at Karachi-based Alpha Beta Core Solutions Pvt. The price jump is the result of aggressive buying by investors as another safe bet -- buying dollars -- is not widely available due to economic woes, he said.
... Dispatch continues below ...
... ADVERTISEMENT ...
First Majestic Produces Silver and Gold in the United States and Mexico
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company owns and operates the San Dimas silver and gold mine, the Jerritt Canyon gold mine, the Santa Elena silver and gold mine, and the La Encantada silver mine. In 2022 these mines are projected to produce between 32.2 to 35.8 million ounces of silver equivalent with an all-in sustaining cost of $16.79 to $18.06 per payable silver-equivalent ounce.
For more information about the company, visit:
https://www.firstmajestic.com/
The company offers a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at First Majestic's bullion store at some of the lowest possible premiums:
https://store.firstmajestic.com/
The world's fifth-most populous nation is dealing with a range of economic challenges, including a dollar shortage and a delay in the International Monetary Fund's loan program for the country. Moody's Investors Service and Fitch Ratings downgraded Pakistan deeper into junk territory in October after devastating floods jeopardized its fiscal stability. ...
... For the remainder of the report:
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
