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Daily Dispatches
GATA's Ed Steer interviewed by Dave Russell of GoldCore
Submitted by admin on Tue, 2022-10-04 21:42 Section: Daily Dispatches9:42p Tuesday, October 4, 2022
Dear Friend of GATA and Gold:
GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, is interviewed today by GoldCore's Dave Russell about the international financial markets, the depression he sees looming ahead, and the potential for the monetary metals and commodities to serve as havens against disaster.
The interview is 28 minutes long and can be heard at YouTube here:
Banks divert gold supply from India to China and Turkey
Submitted by admin on Tue, 2022-10-04 16:37 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Tuesday, October 4, 2022
MUMBAI -- Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.
That could create scarcity in the world's second-biggest market for gold, and force Indian buyers to start paying hefty premiums for supplies in the approaching peak-demand season.
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Turkish inflation tops 83% as Erdogan promises more interest rate cuts
Submitted by admin on Mon, 2022-10-03 12:07 Section: Daily DispatchesBy Laura Pitel
Financial Times, London
Monday, October 3, 2022
Turkey's official inflation rate climbed to a new 24-year high last month as the country reeled from President Recep Tayyip Erdoğan's unorthodox economic policy.
The consumer price index rose 83.45 per cent in September, according to data from the Turkish Statistical Institute, the highest level since July 1998 and up from 80.21 per cent the previous month. ...
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Pam and Russ Martens: Trouble with Credit Suisse causing panic among banks
Submitted by admin on Mon, 2022-10-03 11:18 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, October 3, 2022
The Swiss global bank, Credit Suisse, a derivatives counterparty to major Wall Street banks and U.S. insurers, raised alarm bells in markets on Friday and is raising more anxiety this morning. Its five-year credit default swap, a measurement of its risk of defaulting on its debt, jumped to 250 basis points on Friday and traded as high as 350 basis points in early trade today.
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Gold and silver are reviving so join GATA in New Orleans next week
Submitted by admin on Mon, 2022-10-03 10:22 Section: Daily DispatchesGATA Chairman Bill Murphy and your secretary/treasurer will be among the speakers.
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By Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
USAGold's October letter finds some encouragement for the monetary metal
Submitted by admin on Mon, 2022-10-03 10:17 Section: Daily Dispatches10:17a ET Monday, October 3, 2022
Dear Friend of GATA and Gold:
USA Gold's October edition of its "News & Views" letter begins by asserting that "finding an encouraging word on the gold and silver markets isn't easy" -- and with heroic diligence proceeds to find a bunch of encouraging words.
The October edition is posted in the clear at USAGold here:
Relentless dollar rally raises chance of interventions, investors say
Submitted by admin on Mon, 2022-10-03 09:54 Section: Daily DispatchesNot much more would need to be done than to end the longstanding interventions against gold.
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By Liz McCormick, Simon White, and Matt Turner
Bloomberg News
Sunday, October 2, 2022
The U.S. dollar is expected to extend its gains, increasing speculation that governments will stage unusual market interventions to drive up the value of the currencies on the losing end of the trade.
Qatar boosts gold reserves as FIFA World Cup nears
Submitted by admin on Sat, 2022-10-01 23:38 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Saturday, October 1, 2022
With many eyes across the world soon turning towards the Gulf State of Qatar as it hosts the 2022 FIFA World Cup later this year, now is a good time to look at another interesting development in the Qatari rmirate -- the recent rapid growth of Qatar's monetary gold reserves.
In August the Qatar central bank raised a few eyebrows when it announced that during July it had purchased about 14.8 tonnes of gold, thereby bringing the country's official gold reserves to 72.3 tonnes.
Turkish central bank is top gold buyer among central banks this year
Submitted by admin on Sat, 2022-10-01 09:10 Section: Daily DispatchesFrom the Daily Sabah, Istanbul
Friday, September 30, 2022
The Turkish central bank has been the top gold buyer among its global peers so far this year, according to data from the World Gold Council.
The Central Bank of the Republic of Türkiye bought around 9 tons of gold in August, the council said Thursday, increasing its total purchases to 84 tons year-to-date,
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London gold dealer runs out of bullion as Truss budget shocks
Submitted by admin on Sat, 2022-10-01 09:01 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Saturday, October 1, 2022
When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that has recently lost its luster: gold.
As the UK currency slid to an all-time low early Monday, bullion priced in pounds climbed close to a record. That would typically encourage selling and deter buyers, but this time round the turmoil in British bond and currency markets increased the allure of the precious metal.
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