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Daily Dispatches
Pam and Russ Martens: Fed loses billions while paying huge interest income to big banks
Submitted by admin on Mon, 2024-04-08 14:35 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street On Parade
Monday, April 8, 2024
As of April 3 the Federal Reserve has racked up $161 billion in accumulated losses.
We're not talking about unrealized losses on the underwater debt securities the Fed holds on its balance sheet, which it does not mark to market.
China's latest investment frenzy sparks wild swings in gold ETF
Submitted by admin on Mon, 2024-04-08 14:17 Section: Daily DispatchesBy Charlotte Yang
Bloomberg News
via Yahoo Finance, Sunnyvale, California
An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country's economic challenges.
Trading for the ChinaAMC Gold Industry Equity ETF was halted until 10:30 a.m. Monday local time, in order to protect investors' interests, China Asset Management Co. said in a statement today. It was the second trading suspension for the product since last Tuesday.
Maybe the sun isn't the only thing being eclipsed tomorrow
Submitted by admin on Sun, 2024-04-07 23:06 Section: Daily Dispatches11:12p ET Sunday, April 7, 2024
Dear Friend of GATA and Gold (and Silver):
Tonight's action in gold and silver is astounding. Both monetary metals opened down hard, as if somebody was trying to set a negative tone in the market for the day ahead after many days of strong advances.
Whereupon somebody pounced on the price smashes as if metal was a bargain at any price.
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As gold smuggling runs rampant, Vietnam looks for ways to tame market
Submitted by admin on Sun, 2024-04-07 10:00 Section: Daily DispatchesBy Nguyen Dieu Tu Uyen
Bloomberg News
via South China Morning Post, Hong Kong
Sunday, April 7, 2024
Stabilising the gold market is a pressing issue for the Vietnamese government with smugglers taking advantage of higher local prices to slip in the precious metal, leading to exchange rate distortions and weakness in the dong that's hurting the economy.
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OMG: Bloomberg columnist recommends gold
Submitted by admin on Sun, 2024-04-07 09:47 Section: Daily DispatchesCentral Banks Are the Newest HODLers of Gold
By Merryn Somerset Webb
Bloomberg News
Sunday, April 7, 2024
A few weeks ago, when the gold price hit a record high, no one besides a few gold bugs seemed to care.
Bitcoin also hit a record high. Everyone cared.
Proof came in the personal finance pages of the UK newspapers. The Financial Times had a piece on investing in crypto miners, a long read about what crypto still gets wrong, and a cry of pain for UK investors denied the right to hold Bitcoin exchange-traded funds.
Fed soon will have to drop gold suppression policy, Maguire tells LFTV
Submitted by admin on Sat, 2024-04-06 20:17 Section: Daily Dispatches8:18p ET Saturday, April 6, 2024
Dear Friend of GATA and Gold (and Silver):
London metals trader Andrew Maguire, commmenting on this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand, says central banks have huge bids for physical gold just below the current market price and will raise their bids if the price moves up.
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More states nixing sales tax on gold and silver bullion
Submitted by admin on Sat, 2024-04-06 09:39 Section: Daily DispatchesBy Danielle Muoio Dunn
Bloomberg News
Friday, April 5, 2024
It's getting a little less expensive across the country to buy investment metals like gold bars and silvercoins, as more states take up measures granting them exemptions from sales tax.
At least 44 states have either fully or partially repealed the sales tax on purchases of gold and silver, according to the Sound Money Defense League, a group funded by online dealer Money Metals Exchange.
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Biggest gold miners are missing out on bullion's record run
Submitted by admin on Fri, 2024-04-05 15:47 Section: Daily DispatchesBy Jacob Lorinc
Bloomberg News
via Yahoo Finance, Sunnyvale, California
Friday, April 5, 2024
The world's biggest gold miners are at risk of missing out on the metal's record run after spending billions of dollars to become the obvious home for bullion-focused investors.
Despite gold hitting all-time highs almost daily, Newmont Corp. shares were down about 6% this year to Thursday's market close, while rival Barrick Gold Corp.'s stock had fallen about 2%.
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How Zimbabwe plans to link its new money supply with gold reserves
Submitted by admin on Fri, 2024-04-05 15:15 Section: Daily DispatchesFrom Al Jazeera, Doha, Qatar
Friday, April 5, 2024
...Analysts have questioned whether Harare has enough reserves to adequately back the new currency, and if the latter could suffer from volatility in gold prices.
On Thursday, President Emmerson Mnangagwa inspected the central bank's vaults that [John] Mushayavanhu [the governor of Zimbabwe’s Reserve Bank] -- who was appointed earlier this year -- said hold 1.1 tonnes of solid gold.
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Canada's other export powerhouse: gold
Submitted by admin on Fri, 2024-04-05 12:23 Section: Daily DispatchesBy Jason Kirby
The Globe and Mail, Toronto
Thursday, April 4, 2024
There's gold in them thar exports. Lots of it.
The shiny yellow metal doesn't get nearly the same attention from Canadian policymakers as the energy and automotive sectors do, but exports of gold have soared in recent years and are close to surpassing passenger vehicles to become Canada's second-largest export commodity.
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