Daily Dispatches

RBI buys record gold this year, and at 700 tonnes, reserves up 27% in 2 years

By Rajesh Bhayani
Business Standard, New Delhi
Thursday, August 12, 2021

The Reserve Bank of India has increased its gold purchases, as part of its foreign exchange reserves. 

In the first half of 2021, the addition of gold to India's forex reserves has been the highest -- on a half-yearly basis -- at 29 tonnes. 

Now the RBI's gold holding -- as a proportion of its forex reserves — has for the first time crossed 700 tonnes. ...

By Brien Lundin
Publisher, Gold Newsletter
CEO, New Orleans Investment Conference
Saturday, August 14, 2021

This year’s New Orleans Investment Conference is coming up -- Tuesday through Friday, October 19-22 -- and you’ll kick yourself if you miss it.

Why? Because this is without a doubt the most valuable, important, rewarding -- and eagerly awaited --event in many years.

It will be the first big in-person event of its kind post-pandemic --a "welcome home" for hundreds of today's smartest and most active investors.

4:11p ET Friday, August 13, 2021

Dear Friend of GATA and Gold:

Writing yesterday at Sprott Money, market analyst David Brady attributes last Sunday night's flash-crash attack on the monetary metals to the desperation of bullion banks to cover their longstanding short positions in the futures markets in anticipation of cataclysmic events that will be enormously positive for the metals.

... Dispatch continues below ...

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By Dave Kranzler
Investment Research Dynamics, Denver
Thursday, August 12, 2021

"The concept of transitory is really this: it is that, uh, the increases will happen. We’re not saying they will reverse. That's not what transitory means. It means that the increases in prices will happen, so there will be inflation, but that the process of inflation, uh, will stop so that, so that there won’t be furth- uh -- fur- ..."

-- Jay Powell, verbatim, on inflation at the last post-FOMC meeting press conference.