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Daily Dispatches
Alasdair Macleod: Massive Comex deliveries since Thanksgiving
Submitted by admin on Wed, 2024-12-18 11:32 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Wednesday, December 18, 2024
It was a week of two halves for gold and silver prices: rising strongly until Thursday when prices were smashed. ...
A feature of this week’s [last week's] trading was levitated futures premiums over spot, particularly noticeable in silver, which before yesterday's price smash represented a premium over overnight rates of as much as 7% annualized for the active February contract.
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Assad stole what he could but Reuters says he left Syria's gold in central bank's vault
Submitted by admin on Mon, 2024-12-16 16:08 Section: Daily DispatchesSyria Retains 26 Tons of Gold Reserves After Assad's Fall, Sources Tell Reuters
By Timour Azhari and Libby George
Reuters
Monday, December 16, 2024
DAMASCUS -- The vault of Syria's central bank holds nearly 26 tons of gold, the same amount it had at the start of the country's bloody civil war in 2011, even after the chaotic fall of Bashar al-Assad's despotic regime, four people familiar with the situation told Reuters.
But the country has only a small amount of foreign currency reserves in cash, the same people said.
Barrick Gold threatens to suspend Mali operations over blocked exports
Submitted by admin on Mon, 2024-12-16 14:03 Section: Daily DispatchesFrom Reuters
Monday, December 16, 2024
Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said today as it struggles to reach agreement with authorities on a new mining code in the West African country.
Conditions at the miner's Loulo-Gounkoto complex have "deteriorated significantly," Barrick said, adding that employees have been imprisoned without cause and shipments of bullion have been blocked.
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Indonesia's finance authority says country urgently needs a gold bank
Submitted by admin on Mon, 2024-12-16 10:45 Section: Daily DispatchesBy Nabiila Azzahra
Tempo, Jakarta, Indonesia
Sunday, December 15, 2024
Indonesia's Financial Services Authority (OJK) said the need to establish a gold bank in Indonesia is urgent. A gold bank is a form of bullion business activity that is currently being developed by OJK and the government.
The chief executive of the Supervisory Board of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions of OJK, Agusman, explained the urgency of organizing bullion business activities.
Gold's upward revaluation continues and silver is next, Maguire tells LFTV
Submitted by admin on Sat, 2024-12-14 11:41 Section: Daily Dispatches11:40a ET Saturday, December 14, 2024
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, speaking on this week's edition of Kinesis Money's "Live from the Vault" program, says gold's stair-step upward revaluation continues and that silver is setting up for a sharper rise. He adds that President-elect Trump's plans to impose tariffs on countries he deems hostile to the U.S. dollar will boost gold as well.
The program is 40 minutes long and can be viewed at YouTube here:
Miles Franklin's Schectman interviews GATA secretary about the organization's long journey
Submitted by admin on Fri, 2024-12-13 08:50 Section: Daily Dispatches8:51a ET Friday, December 13, 2024
Dear Friend of GATA and Gold:
It's 'official' at last: Gold price has been suppressed by extreme shorting and may explode
Submitted by admin on Thu, 2024-12-12 12:28 Section: Daily Dispatches12:41p ET Thursday, December 12, 2024
Dear Friend of GATA and Gold:
At long last complaints of gold price manipulation and suppression got some respect this week from the Official Monetary and Financial Institutions Forum, a snooty group based in London.
The group published a long paper heralding gold's restoration to the center of the world financial system, "Gold and the New World Disorder," and the paper's chapter titled "Market Disruption -- The Short Squeeze" has this to say:
Florida's CFO studies whether state could adopt gold and silver as legal tender
Submitted by admin on Thu, 2024-12-12 09:15 Section: Daily DispatchesFrom First Coast News / WTLV-WJXX
Jacksonville, Florida
Wednesday, December 11, 2024
TALLAHASSEE, Florida -- Gold and silver bullion could soon be used as a legal way for Floridians to buy goods and services, the state's Chief Financial Officer Jimmy Patronis said today.
Patronis announced his office is launching a study on how gold and silver can be used as legal tender in the state. Gold and silver can be bought as investments but can't be used to purchase goods and services.
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Trump tariff risk roils gold and silver as New York prices jump
Submitted by admin on Thu, 2024-12-12 08:59 Section: Daily DispatchesBy Jack Ryan, Sybilla Gross, and Yvonne Yue Li
Bloomberg News
Wednesday, December 11, 2024
Premiums for gold and silver futures in New York swelled as traders weighed the possibility of precious metals being included in sweeping tariff measures proposed by U.S. President-elect Donald Trump.
Gold futures for delivery in February traded as much as $60 an ounce, or 2%, over spot prices in early London trading, while silver futures were more than $1 an ounce, or 3%, higher.
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Robert Lambourne: BIS gold swaps fell 13% in November as debt problems grew
Submitted by admin on Tue, 2024-12-10 21:24 Section: Daily DispatchesBy Robert Lambourne
Wednesday, December 11, 2024
The November statement of account for the Bank for International Settlements was published this week --
https://www.bis.org/banking/balsheet/statofacc241130.pdf
-- and it indicates that the volume of gold swaps undertaken by the BIS fell from 93 tonnes on October 31 to 81 tonnes on November 29, a decline of 12 tonnes or 13%.
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