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Daily Dispatches
China's gold binge extends to 10th month as reserves climb
Submitted by admin on Fri, 2023-09-08 09:04 Section: Daily DispatchesBy Sybilla Gross
Bloomberg News
Thursday, September 7, 2023
China added to its gold reserves for a 10th straight month, extending a push to bolster its hefty stockpile as it tries to diversify away from the US dollar.
Bullion held by the People's Bank of China rose by 930,000 troy ounces in August, the central bank said on Thursday. That's equivalent to about 29 tons. Total reserves now sit at 2,165 tons, with around 217 tons added in a run of purchases that began in November.
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G20 summit: leaders to dine on silver- and gold-plated tableware
Submitted by admin on Thu, 2023-09-07 20:00 Section: Daily DispatchesMen and women of the people, these leaders. Someone should count the spoons afterwards.
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By Shobhit Gupta
Hindustan Times, New Delhi
Thursday, September 7, 2023
For a rich dining experience of world leaders, meals will be served to them on silver and gold-plated utensils.
New Delhi is all decked up to welcome the international dignitaries for the upcoming G20 Summit, which is scheduled to be held at the sprawling Bharat Mandapam at New Delhi's Pragati Maidan from September 9-10.
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Norwegian archaeologists say it's the gold find of the century
Submitted by admin on Thu, 2023-09-07 19:52 Section: Daily DispatchesBy the Associated Press
via ABC News, New York
Thursday, September 7, 2023
COPENHAGEN, Denmark -- At first the Norwegian man thought his metal detector reacted to chocolate money buried in the soil. It turned out to be nine pendants, three rings and 10 gold pearls in what was described as the country's gold find of the century.
Little gold coins help the poor in Gaza to save
Submitted by admin on Thu, 2023-09-07 19:42 Section: Daily DispatchesBy Nidal Al-Mughrabi
Reuters
Thursday, September 7, 2023
GAZA -- A Gaza dentist has developed ultra-lightweight gold coins to allow people without much money to access to one of the most widely used savings methods across the Middle East.
"The idea stemmed from the community's need to own gold amid the difficult living conditions the people live in," said Ahmed Hamdan, who developed the coins, which range in weight from half a gram to 10 grams.
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Ted Butler: Silver is a sure thing
Submitted by admin on Wed, 2023-09-06 18:40 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Tuesday, September 5, 2023
I have contended for nearly 40 years that silver has been manipulated and suppressed in price by means of excessive short selling on the Comex, mostly by commercial traders which happen to be mostly banks. As a result of this decades-long price suppression, the law of supply and demand has become artificially distorted. The low price has reduced supply and current production and increased demand (both industrial and investment) to the point where a wholesale physical shortage has emerged.
Inflation worries fuel Japanese rush to buy gold
Submitted by admin on Wed, 2023-09-06 11:33 Section: Daily DispatchesBy Leo Lewis and David Keohane
Financial Times, London
Tuesday, September 5, 2023
The retail price of gold in Japan has jumped to an all-time high as the yen extends its historic slide against the U.S. dollar and cash-laden households rush to find a hedge against inflation.
How serious is the threat of gold confiscation?
Submitted by admin on Tue, 2023-09-05 23:02 Section: Daily Dispatches11:30p ET Tuesday, September 5, 2023
Dear Friend of GATA and Gold:
Doug Casey's colleague at International Man, Jeff Thomas, today ruminates on the possibility that in a currency crisis, such as one prompted by an anti-U.S. bloc's creation of a gold-backed currency, the U.S. government will resort to some form of confiscation of gold from investors.
Argentina, in dollar love affair, agonizes over divorcing the peso
Submitted by admin on Tue, 2023-09-05 21:48 Section: Daily DispatchesBy Marc Jones, Eliana Raszewski, and Rodrigo Campos
Reuters
Tuesday, September 5, 2023
María Barro, a 65-year-old domestic worker in Buenos Aires, buys a few dollars each month with her peso salary, a hedge against Argentina's persistent inflation now running at over 100% and a steady devaluation of the little-loved local peso.
The peso currency is now in the crosshairs of the country's dark-horse presidential front-runner, libertarian radical Javier Milei, who has pledged to eventually scrap the central bank and dollarize the economy, Latin America's third largest.
Jan Nieuwenhuijs: Estimated Chinese gold reserves rise above 5,000 tonnes
Submitted by admin on Tue, 2023-09-05 13:58 Section: Daily Dispatches1:57p ET Tuesday, September 5, 2023
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs, who has closely followed the gold market in China for many years, today provides his estimates of China's official gold reserves and the amount of gold held by the country's residents. It's a lot in both respects.
Nieuwenhuijs' analysis is headlined "Estimated Chinese Gold Reserves Cross 5,000 Tonnes" and it's posted at the Gainseville Coins internet site here:
'Live from the Vault' reviews huge threat to government's money monopoly: Valaurum bills
Submitted by admin on Fri, 2023-09-01 21:52 Section: Daily Dispatches9:53p ET Friday, September 1, 2023
Dear Friend of GATA and Gold:
On this week's episode of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire interviews Adam Trexler, founder of Valaurum, the company issuing polymer-coated, gold-containing bills in assorted denominations that put the monetary metal back in circulation in a supremely practcal way for people of ordinary means.
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