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Daily Dispatches
Paul Brownstein: LBMA, Bank of England gold delivery delays constitute default
Submitted by admin on Mon, 2025-02-03 12:25 Section: Daily Dispatches12:26p ET Monday, February 3, 2025
Dear Friend of GATA and Gold:
Market analyst Paul Brownstein's "Charts and Parts" letter today calls things by their right name. That is, the London Bullion Market Association and Bank of England have essentially defaulted with gold.
Brownstein writes: "The Bank of England -- custodian for the LBMA's biggest players -- is now delaying gold withdrawals for four to eight weeks. If they can't deliver, what does that say about the system?" He says it's "a de-facto default."
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BIS December report appears belatedly, shows slight decline in gold swaps
Submitted by admin on Mon, 2025-02-03 11:37 Section: Daily Dispatches11:37a ET Monday, February 3, 2025
Dear Friend of GATA and Gold:
The December statement of account of the Bank for International Settlements, due for publication last Friday, January 31, was posted at about 8:40a U.S. Eastern time today, showing, according to GATA consultant Robert Lambourne, a slight decline in the bank's gold swaps over the November level, from 81 tonnes to 78 tonnes:
Ronan Manly: LBMA, Comex work together to keep gold price down amid shortage
Submitted by admin on Mon, 2025-02-03 10:32 Section: Daily Dispatches10:33a ET Monday, February 3, 2025
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly writes today about the gold shortage in London and wonders why the London Bullion Market Association and the New York Commodities Exchange say they are working together to alleviate it if their objective isn't to suppress prices.
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Should central banking be made more democratic?
Submitted by admin on Sun, 2025-02-02 10:58 Section: Daily DispatchesBy Enda Curran
Bloomberg News
Friday, January 31, 2025
The 2008 financial crisis and its aftermath vaulted central bankers from obscure technocrats to leading actors in the global economy.
Institutions that had been known for a behind-the-scenes role mostly tweaking interest rates took on the mantle of Marvel-style first responders.
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Wyoming Senate approves bill to hold $10 million in physical gold
Submitted by admin on Sat, 2025-02-01 17:05 Section: Daily DispatchesBy Jp Cortez
Money Metals Exchange, Eagle, Idaho
Friday, January 31, 2025
CHEYENNE, Wyoming -- With an overwhelming majority, the Wyoming state Senate has voted favorably on legislation that would establish a stockpile of gold for the Cowboy State.
Sponsored by sound-money champion Sen. Bob Ide and backed by Money Metals Exchange and the Sound Money Defense League, Senate File 96 mandates the state treasurer to invest $10 million of state funds in securely stored physical gold and silver.
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Indian government discontinues sovereign gold bond scheme due to high cost of borrowing
Submitted by admin on Sat, 2025-02-01 14:40 Section: Daily DispatchesWhat a pity. Indians will have to keep accumulating actual metal instead of government paper.
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By Meghna Mittal
Moneycontrol, Mumbai, India
Saturday, February 1, 2025
India's government has decided to discontinue the sovereign gold bond scheme, citing the high cost of borrowing associated with the instrument.
Finance Minister Nirmala Sitharaman confirmed the decision today during the post-budget media briefing when asked about the future of the scheme.
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Alasdair Macleod: Turmoil with gold is a lot more than tariffs
Submitted by admin on Sat, 2025-02-01 09:27 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Saturday, February 1, 2025
A Comex exchange-for-physical crisis is in progress, repeating the disruption during covid. The media story blames Trump’s potential tariffs. But is this the real reason gold is hitting new highs?
Vince Lanci: It's not tariffs -- it's that everybody, even the U.S., wants its gold back
Submitted by admin on Fri, 2025-01-31 19:26 Section: Daily Dispatches7:26p ET Friday, January 31, 2024
Dear Friend of GATA and Gold:
Fund manager and market analyst Vince Lanci of Echo Bay Partners in Stamford, Connecticut, today examines the turmoil in the London gold market and concludes that it arises from far more than the fear of tariffs.
He construes the turmoil as signifying that many people around the world have figured out the fractional-reserve basis of Western gold price suppression policy and want to repatriate their gold -- including people in the United States.
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JPMorgan planning $4 billion gold delivery in U.S. amid tariff fears
Submitted by admin on Fri, 2025-01-31 18:17 Section: Daily DispatchesBy Jack Ryan and Jack Farchy
Bloomberg News
Friday, January 31, 2025
JPMorgan Chase & Co. will deliver gold bullion valued at more than $4 billion against futures contracts in New York in February, at a time when surging prices and the threat of import tariffs are fueling a worldwide dash to ship metal to the United States.
Why there's now 'incredible demand for physical gold' in New York market
Submitted by admin on Fri, 2025-01-31 13:58 Section: Daily DispatchesBy Myra P. Saefong
MarketWatch, New York
via Dow Jones Newswires and Morningstar, New York
Friday, January 31, 2025
Comex gold warehouse stocks have climbed 30% in two weeks
A rush on physical gold, thanks to President Donald Trump's tariff plans, has fueled a rise in prices of the precious metal to fresh record highs.
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Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
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