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Daily Dispatches
DR Congo seeks to advance national currency over U.S. dollar
Submitted by admin on Fri, 2024-06-07 10:11 Section: Daily DispatchesFrom AfricaNews.com, Lyon, France
Thursday, June 6, 2024
The Central Bank of Congo has mandated that all electronic payment terminals in the Democratic Republic of Congo accept only Congolese francs. This move aims to boost the use of the national currency and reduce reliance on the U.S. dollar, which weakens the franc.
Gold drops as jobs data dashes Fed rate-cut hopes, China pauses buying
Submitted by admin on Fri, 2024-06-07 09:55 Section: Daily DispatchesYvonne Yue Li and Sybilla Gross
Bloomberg News
via Yahoo News, Sunnyvale, California
Friday, June 7, 2024
Gold fell the most since April as surprise strength in a key U.S. jobs report dashed hopes that the Federal Reserve will be able to start lowering borrowing costs soon.
Billion slumped as much as 2.6% while Treasury yields and the dollar surged after the U.S. government's May employment report showed job growth exceeded expectations and wages were hot.
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LBMA reviews gold purity concerns about Indonesian state miner
Submitted by admin on Thu, 2024-06-06 10:03 Section: Daily DispatchesBy Swati Verma and Fransiska Nangoy
Reuters
Thursday, June 6, 2024
The London Bullion Market Association said it is reviewing allegations involving Indonesian state miner Aneka Tambang over the purity of its gold products.
Indonesia's attorney general's office has named six former general managers at Antam's precious metal processing and refining business unit as suspects for alleged misuse of Antam's stamping service.
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Nigeria moves to develop its gold resources
Submitted by admin on Thu, 2024-06-06 09:55 Section: Daily DispatchesGold Reserve Industry Bill Passes Second Reading
By Dirisu Yakubu
The Punch, Lagos
Wednesday, June 5, 2024
The Senate on Wednesday passed for a second reading a bill for an act to make provision for Nigeria's gold reserve industry.
Sponsored by the lawmaker representing Kogi Central on the platform of the Peoples Democratic Party, Natasha Akpoti-Uduaghan, the bill is seeking a robust framework for the harnessing, exploitation, and marketing of gold.
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Customers crowd Vietnamese banks to buy gold
Submitted by admin on Tue, 2024-06-04 15:32 Section: Daily DispatchesBy Quynh Tran and Giang Huy
VN Express, Hanoi
Monday, June 3, 2024
Banks in Hanoi and Ho Chi Minh City saw up to 50 customers queuing at a time Monday to buy gold, which the banks are selling at below market rates.
At 2 p.m. an Agribank branch in HCMC's District 1 saw dozens of customers queuing in the basement to await their turn to buy.
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Vietnam does its gold price rigging in the open, unlike 'free market' nations
Submitted by admin on Tue, 2024-06-04 12:15 Section: Daily DispatchesVietnamese Central Bank Moves to Lower Domestic Gold Prices
By Jimmy Choi
Central Banking, London
Monday, June 3, 2024
The State Bank of Vietnam started selling gold directly to four state-owned commercial banks today, aiming to lower the metal's domestic price.
GATA's Murphy, GoldSeek Radio's Waltzek discuss metals beyond the breakouts
Submitted by admin on Mon, 2024-06-03 18:36 Section: Daily Dispatches6:35p ET Monday, June 3, 2024
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy and GoldSeek Radio's Chris Waltzek today discuss the recent breakouts in gold and silver and wonder what will happen when trillions of dollars in derivatives start looking for safer places to reside in.
The interview is 13 minutes long and can be heard at GoldSeek here:
Faster Capital in Dubai publishes summary of gold price-fixing scandals
Submitted by admin on Mon, 2024-06-03 11:18 Section: Daily Dispatches11:18a ET Monday, June 3, 2024
Dear Friend of GATA and Gold:
Faster Capital, a business development company based in Dubai, has published a summary of gold market manipulation that, while emphasizing the culpability of major commercial banks, also cites GATA and the involvement of central banks.
The compendium is titled "Gold Price-Fixing Scandals: Examining the Impact of Goldfix Manipulation" and is posted at the Faster Capital internet site here:
Vietnam gold prices plunge as government sells
Submitted by admin on Mon, 2024-06-03 10:46 Section: Daily DispatchesBy Minh Hieu
VN Express, Hanoi
Sunday, June 2, 2024
The Saigon Jewelry Co. gold price has plummeted by 12% from its all-time high of VND92 million (US$3,619.91) seen on May 10 to VND81 million ($3,185.84) today.
The gold bar price is down 3% from the weekend. A tael equals 37.5 grams or 1.2 ounces.
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Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
Jan Nieuwenjuijs: Gold overtakes euro in international reserves
Submitted by admin on Sun, 2024-06-02 10:06 Section: Daily DispatchesBy Jan Nieuwenjuijs
Gainesville Coins, Lutz, Florida
Thursday, May 30, 2024
Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal's share of global international reserves to the detriment of fiat currencies. By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the U.S. dollar.
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