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Daily Dispatches
Alasdair Macleod: How I see gold in the short term
Submitted by admin on Mon, 2024-02-19 17:10 Section: Daily DispatchesBy Alasdair Macleod
Monday, February 19, 2024
There is a dawning realization that the Fed can't reduce interest rates in the near term and that the Consumer Price Index inflation rate will not return to 2%.
The problem for markets is they are heavily skewed into discounting a fall in interest rates. Even the sceptics argue that with government funding requirements remaining elevated, the Fed must reduce interest rates to avoid a debt crisis.
So what happens if the markets have got it wrong? And what happens to gold? ...
JPMorgan to pay $350 million for trade-reporting lapses
Submitted by admin on Sat, 2024-02-17 09:29 Section: Daily DispatchesBy Hannah Levitt
Bloomberg News
Friday, February 16, 2024
JPMorgan Chase & Co. expects to pay more than $350 million to settle regulatory claims that it failed to feed information on trades into market-surveillance systems.
The biggest U.S. bank will pay about that much to two US watchdogs and is in advanced talks with a third, the company said today in an annual filing.
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Mike Maharrey: Bank bailout program ends in March -- then what?
Submitted by admin on Fri, 2024-02-16 12:14 Section: Daily DispatchesBy Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Friday, February 16, 2024
The bank bailout program established by the Federal Reserve in the wake of last spring's banking crisis is scheduled to shut down on March 11.
Then what?
There are a lot more questions than answers.
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Mexican mining sector balks at plan to ban open-pit mines
Submitted by admin on Fri, 2024-02-16 10:13 Section: Daily DispatchesBy Daina Beth Solomon and Divya Rajagopal
Reuters
Friday, February 16, 2024
MEXICO CITY -- Mexican President Andres Manuel Lopez Obrador's proposal to ban open-pit mining will generate uncertainty and curtail investment for the key sector, mining industry representatives said this week.
Lopez Obrador announced the proposal to prohibit new concessions for open-pit projects last week amid a slew of initiatives as he looks to shape political debate ahead of a June presidential election that his protégé is expected to win.
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Mexico's president calls for ban on open-pit mining
Submitted by admin on Tue, 2024-02-13 11:46 Section: Daily DispatchesBy Alfie Shaw
Mining Technology, New York
Monday, February 12, 2024
Mexican President Andres Manuel López Obrador proposed this month to modify Article 27 of the country's Constitution to prohibit open-pit mining, as part of a range of constitutional reforms presented before parliament, citing concerns for excessive environmental damage.
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Alasdair Macleod: The paper gold shorts are desperate to go long
Submitted by admin on Tue, 2024-02-13 11:30 Section: Daily DispatchesBy Alasdair Macleod
Tuesday, February 13, 2024
Today the U.S. consumer price indiex came in a little better than expected, not that a few decimals mean anything. Gold was marked down $35. So what was that about?
Quite simply, the bullion bank traders know that gold is going to go much higher and want to go long in the paper market. Physical supply is being cornered by central banks, sovereign wealth funds, and ultra-wealthy individuals, particularly in Asia.
Ed Steer: The short position in SLV drops 25%
Submitted by admin on Mon, 2024-02-12 17:43 Section: Daily Dispatches5:41p ET Monday, February 12, 2024
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "The Short Position in SLV Drops 25%" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/short-position-slv-drops-25-percent
Zimbabwe considers using gold to back its currency
Submitted by admin on Mon, 2024-02-12 09:50 Section: Daily DispatchesBy Ray Ndlovu
Bloomberg News
Monday, February 12, 2024
Zimbabwe may back its currency with gold in an effort to end exchange-rate instability, Finance Minister Mthuli Ncube said.
"To manage growth of liquidity, we may link the exchange rate to a hard asset such as gold," Ncube said in an online press briefing held today to announce a conference of African ministers that Zimbabwe will host at the end of this month.
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China, Russia will conquer world with 'nuclear option' in gold, Maguire says
Submitted by admin on Fri, 2024-02-09 21:01 Section: Daily Dispatches9p ET Friday, February 9, 2024
Dear Friend of GATA and Gold:
Central banks are turning "paper" gold on the New York Commodities Exchange into real metal via conversion to "exchange for physicals" redeemable in London, metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
Robert Lambourne: Gold intervention via BIS fell by 4 tonnes in January
Submitted by admin on Fri, 2024-02-09 13:10 Section: Daily DispatchesBy Robert Lambourne
Friday, February 9, 2024
The January statement of account for the Bank for International Settlements was published this week --
https://www.bis.org/banking/balsheet/statofacc240131.pdf
-- and allows an estimate to be made of the volume of gold swaps undertaken by the BIS at the month end: 117 tonnes, a 4-tonne reduction from the swaps volume as of the end of December.
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