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Daily Dispatches
Real yields on European junk bonds go negative for first time
Submitted by admin on Tue, 2021-09-07 11:20 Section: Daily DispatchesBy Naomi Rovnick and Martin Arnold
Financial Times, London
Tuesday, September 7, 2021
Investors in European junk bonds have begun accepting interest payments that are lower than eurozone inflation levels for the first time ever, in the latest sign that central banks' crisis-era debt purchases have shifted the balance between risk and reward.
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'Enormous' treasure trove of 6th-century gold found in Denmark
Submitted by admin on Mon, 2021-09-06 18:13 Section: Daily DispatchesFrom Agence France-Presse
via EuroNews, Lyon, France
Sunday, September 5, 2021
One of the biggest treasure troves ever found in Denmark has been discovered in the southwest of the country.
Some 22 gold objects, dating from the sixth century, were discovered by an amateur archaeologist near the town of Jelling.
According to the Vejle Museum, where the horde is due to be displayed, Ole Ginnerup Schytz had just acquired a metal detector and was walking the fields when he came across the gold.
Venezuela's new 'lettuce'-based economy is good enough for now
Submitted by admin on Mon, 2021-09-06 08:53 Section: Daily DispatchesBy Virginia Lopez Glass
The New York Times
September 6, 2021
CARACAS, Venezuela -- A few years ago, Venezuela was experiencing such devastating food shortages that people stood for hours in lines just for a chance to buy basic staples. Venezuelans reported losing an average of 24 pounds in 2017. Today such hard times feel like a distant nightmare.
India's August gold imports nearly double from last year, highest in 5 months
Submitted by admin on Mon, 2021-09-06 08:46 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Monday, September 6, 2021
MUMBAI -- India's gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewellers to ramp up purchases for the festive season, a government source said.
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Crypto's rapid move into banking elicits alarm in Washington
Submitted by admin on Sun, 2021-09-05 13:18 Section: Daily DispatchesBy Eric Lipton and Ephrat Livni
The New York Times
Sunday, September 5, 2021
BlockFi, a fast-growing financial start-up whose headquarters in Jersey City are across the Hudson River from Wall Street, aspires to be the JPMorgan Chase of cryptocurrency.
It offers credit cards, loans, and interest-generating accounts. But rather than dealing primarily in dollars, BlockFi operates in the rapidly expanding world of digital currencies, one of a new generation of institutions effectively creating an alternative banking system on the frontiers of technology.
Dave Kranzler: Gold and silver shares are extremely cheap
Submitted by admin on Fri, 2021-09-03 17:00 Section: Daily Dispatches5p ET Friday, September 3, 2021
Dear Friend of GATA and Gold:
Dave Kranzler of Investment Resarch Dynamics in Denver writes today that gold and silver mining stocks are extremely cheap relative to gold and silver prices. He thinks the shares are forming a bottom.
Kranzler's analysis is headlined "A Taper Is Likely Off the Table -- Gold, Silver and Mining Stocks Are Ready to Rumble" and it's posted at IRD here:
Alasdair Macleod: Inflation is a monetary curse
Submitted by admin on Thu, 2021-09-02 12:39 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, September 2, 2021
Remarkably, in a speech on monetary policy given at the Jackson Hole conference last Friday, Federal Reserve Chairman Jay Powell never mentioned money, money supply, M1, or M2. With money supply expanding at a record pace to fund both quantitative easing and intractable budget deficits, the omission is extraordinary.
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Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario
Russia's gold and FX reserves hit record high after IMF transfer
Submitted by admin on Thu, 2021-09-02 11:53 Section: Daily DispatchesRussia's gold and FX reserves hit record high after IMF transfer
From Reuters
Thursday, September 2, 2021
MOSCOW -- Russia's international gold and foreign currency reserves rose to a record high of $615.6 billion after receiving a tranche from the International Monetary Fund, the central bank said today.
The IMF gave Russia around $17.5 billion in its Special Drawing Rights in late August as part of the global $650 billion SDR allocation, its largest distribution of monetary reserves on record.
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The world is awash in dollar liquidity no one wants
Submitted by admin on Thu, 2021-09-02 11:45 Section: Daily DispatchesBy Tracy Alloway
Bloomberg News
Thursday, September 2, 2021
There's a seismic shift underway in money markets, the equivalent of going from famine to feast.
For years the premium paid for dollars over the euro, Japanese yen, and so on in the cross-currency markets has been negative, indicating rampant demand for greenbacks. Now these so-called cross-currency basis swaps are on the verge of turning positive in a major shift for money markets.
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Iamgold suspends convoys to Burkina Faso gold mine after attack
Submitted by admin on Wed, 2021-09-01 13:06 Section: Daily DispatchesBy Aaron Ross and Cooper Inveen
Reuters
Wednesday, September 1, 2021
OUAGADOUGOU, Burkina Faso -- Gunmen attacked a convoy of Iamgold Corp. vehicles travelling to the Essakane gold mine in Burkina Faso on Tuesday, wounding one police officer before being repelled by the convoy's security detail, the Canadian mining company said.
Following the attack, Iamgold has suspended convoys to and from Essakane, which is the company's biggest operating mine and is near the border with Niger.
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