You are here
Jan Nieuwenhuijs: Repatriated gold reaches historic highs
By Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Thursday, December 5, 2024
The share of global official gold reserves NOT stored at the Federal Reserve Bank of New York and Bank of England in London has reached 78% in 2024, from 51% in 1972.
The shift in this ratio appears to be accelerating and can be seen as a proxy for the West’s decline in financial dominance.
... Dispatch continues below ...
... ADVERTISEMENT ...
Cerro de Pasco's Assay Results at Quiulacocha
Indicate Consistency at Depth and Laterally
Company Announcement
Tuesday, December 3, 2024
MONTREAL -- Cerro de Pasco Resources Inc. (CSE: CDPR, OTCQB: GPPRF) reports that the 40-hole drill program at its Quiulacocha Tailings Project in central Peru has been successfully completed, providing more than 1,000 samples, of which 177 have been assayed to date, including the SPT04 drillhole released on October 15.
Key Highlights:
-- 177 assay samples from nine drill holes, equivalent to 15% of the current drill program, indicate an average silver grade of 1.72 ounces per tonne of silver (53.64 g/t), 37% higher than the average of shallow auger samples reported by Brophy (2012) in the north and central sections of the project. ...
... For the remainder of the announcement:
"Gold is the bedrock of stability for the international monetary system," wrote former President of the German central bank, Jens Weidmann, in 2019. Not surprisingly, no national currency has ever become the world reserve currency without a substantial amount of precious metal supporting it.
Before the U.S. dollar, the pound sterling was the world reserve currency. In the 19th century, a significant part of global commerce was transacted in sterling (backed by gold) and cleared in London. Central banks could redeem British pounds for gold and build their metallic reserves at the vault of the Bank of England in the most liquid gold market globally: London. ...
... For the remainder of the report:
https://www.moneymetals.com/news/2024/12/05/repatriated-gold-reaches-historic-highs-003667
* * *
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:
* * *
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:
