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Daily Dispatches
Harmony CEO says gold sector consolidation is 'inevitable'
Submitted by admin on Wed, 2023-03-01 20:48 Section: Daily DispatchesBy Nelson Banya
Reuters
Wednesday, March 1, 2023
Gold mining sector mergers and acquisitions are inevitable due to the need to replace depleting mineral reserves, Harmony Gold Chief Executive Peter Steenkamp said today.
U.S-based Newmont Corp., the world's top gold producer, last month tabled a $16.9 billion bid for Australia's Newcrest Mining, igniting speculation of a new wave of M&A activity in the gold industry.
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USAGold's monthly letter converts to a daily market report
Submitted by admin on Wed, 2023-03-01 13:46 Section: Daily Dispatches1:47p ET Wednesday, March 1, 2023
Dear Friend of GATA and Gold:
USAGold.com is retiring its monthly "News & Views" newsletter and replacing it with what may turn out to be something better -- a daily market report that looks like it will include much of the sort of material that has gone into the monthly newsletter.
The first edition of the USAGold daily market report is here:
Russians probed over gold in Sudan as West competes for influence
Submitted by admin on Mon, 2023-02-27 19:23 Section: Daily DispatchesBy Mohammed Alamin and Simon Marks
Bloomberg News
Monday, February 27, 2023
Dozens of Russians working for a mining company in Sudan are being probed by authorities on suspicion of gold-smuggling, in a potential setback for Moscow's ambitions in the resource-rich North African state.
Sudanese prosecutors arrested one and summoned many more Russian employees for questioning this year, including just before and after Foreign Minister Sergei Lavrov's visit in February, according to people familiar with the events.
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Javier Blas: The myth of the inevitable rise of the petroyuan
Submitted by admin on Mon, 2023-02-27 11:21 Section: Daily DispatchesThe prediction drawn by this commentary may be accurate but the commentary is ridiculous for scorning China for commodity market manipulation as if the U.S. government hasn't been doing the same thing for much longer. That's a subject the writer's news organization dares not touch and a failure that makes this commentary largely propaganda.
* * *
By Javier Blas
Bloomberg News
via The Washington Post
Monday, February 27, 2023
Alasdair Macleod: Central bank digital currencies -- the good, the bad, and the ugly
Submitted by admin on Thu, 2023-02-23 11:54 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, February 23, 2023
There has been much comment over the likelihood that central bank digital currencies will be introduced. In this essay conclude they are unnecessary -- a red herring. But this does allow us to discuss their possible relevance to a new Asian super-currency.
Jan Nieuwenhuijs: Estimating the true size of China's gold reserves
Submitted by admin on Thu, 2023-02-23 11:39 Section: Daily Dispatches11:40a ET Thursday, February 23, 2023
Dear Friend of GATA and Gold:
Gold market analyst Jan Nieuwenhuijs today gives his estimate of the gold reserves held by the People's Bank of China: twice the tonnage officially reported.
Perhaps more important Nieuwenhuijs documents how China's central bank and central banks in Europe appear to be working together to match their gold reserves with their nations' gross domestic product in preparation for some sort of new gold standard or gold price targeting system.
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Craig Hemke at Sprott Money: Gold's first pullback of 2023
Submitted by admin on Wed, 2023-02-22 16:29 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Wednesday, February 22, 2023
In our annual forecast printed in January, we tried to warn everyone that although the Comex precious metals were set up for a very strong 2023, the first half of the year would include several false starts and fakeouts.
As if right on schedule, you just got your first one. ...
For the remainder of the analysis:
Switzerland shipped $3.6 billion of gold to Turkey in January, most since at least 2012
Submitted by admin on Tue, 2023-02-21 20:45 Section: Daily DispatchesBy Peter Hobson
Reuters
Tuesday, January 22, 2023
LONDON -- Switzerland sent 58.3 tonnes of gold worth 3.3 billion Swiss francs ($3.6 billion) to Turkey in January, by far the most for any month in records stretching back to 2012, Swiss customs data showed today.
Gold is traditionally seen as a safe means of storing wealth and Turkish demand for the metal has rocketed as sky-high inflation erodes the value of the local lira currency.
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Mississippi legislature votes overwhelmingly to end sales taxes on gold and silver
Submitted by admin on Tue, 2023-02-21 19:42 Section: Daily DispatchesBy JP Cortez
Money Metals News Service, Eagle, Idaho
Tuesday, February 21, 2023
JACKSON, Mississippi -- Both houses of the Mississippi Legislature have just voted overwhelmingly to exempt physical gold, silver, platinum, and palladium coins and bullion from the state sales tax, sending the bill to Governor Tate Reeves for his signature.
Monetary metals will outperform amid inflation, GATA chairman tells GoldSeek Radio
Submitted by admin on Tue, 2023-02-21 19:29 Section: Daily Dispatches7:30p ET Tuesday, February 21, 2023
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed by Chris Waltzek of GoldSeek Radio, argues that the monetary metals will outperform other assets as inflation continues and especially when price-suppression efforts are exhausted. The interview is 11 minutes long and can be heard at GoldSeek Radio here:
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