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Daily Dispatches
China still buying gold, Maguire says, and silver short squeeze is near
Submitted by admin on Sat, 2024-08-10 18:29 Section: Daily Dispatches6:32p ET Saturday, August 10, 2024
Dear Friend of GATA and Gold:
'Stateless' currency gold gains favor over dollar and yuan
Submitted by admin on Sat, 2024-08-10 18:00 Section: Daily DispatchesCentral Banks Dump Dollars and Yuan in Favor of Gold
By Yohei Hirose
Nikkei, Tokyo
Saturday, August 10, 2024
TOKYO -- Central banks are diversifying away from the dollar and yuan while loading up their foreign exchange reserves with a "stateless currency," gold, in a nod to intensifying geopolitical tensions and global economic uncertainties.
Robert Lambourne: BIS gold swaps rose 32 tonnes in July, seem tied to short-term trading
Submitted by admin on Sat, 2024-08-10 13:59 Section: Daily DispatchesBy Robert Lambourne
August 10, 2024
The July statement of account for the Bank for International Settlements has recently been published.
Ghana moves toward sovereignty as it opens its first gold refinery
Submitted by admin on Fri, 2024-08-09 10:20 Section: Daily DispatchesGhana Opens First Gold Refinery After Centuries of Mining
By Maxwell Akalaare Adombila
Reuters
Thursday, August 8, 2024
ACCRA, Ghana -- Ghana today opened its first commercial gold refinery in Accra, the capital, as part of an effort by Africa's leading gold producer to add value and earn more from the precious metal, which has been mined here for centuries.
Brian Maher: The high cost of cheap money
Submitted by admin on Wed, 2024-08-07 19:42 Section: Daily DispatchesBy Brian Maher
Daily Reckoning, Baltimore
Wednesday, August 7, 2024
The stars were once again in their courses yesterday -- oil was poured upon troubled waters, the dip was bought.
All was peace.
Following Monday's sharp unpleasantness, the stock market went trampolining back.
Yet gravity reasserted itself today.
The Dow Jones Industrial Average fell 234 points earthward.
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United Arab Emirates suspends 32 gold refineries
Submitted by admin on Wed, 2024-08-07 19:28 Section: Daily DispatchesBy Rob Bates
Jewelers Circular Keystone, New York
Wednesday, August 7, 2024
The United Arab Emirates Ministry of Economy has suspended 32 local gold refineries for three months for not following anti–money laundering laws, it said in a statement issued Tuesday.
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First Majestic Mines Silver and Gold
in Mexico and Operates Bullion Store
Ronan Manly: Elections and political uncertainty help drive gold demand and price
Submitted by admin on Thu, 2024-08-01 23:22 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Thursday, August 1, 2024
This year is shaping up to be a perfect storm for political risk and uncertainty, given that in addition to the upcoming US presidential and Congress elections, we have already seen major shifts in the political landscapes of two other G7 countries, France, and the United Kingdom.
BIS annual report again confirms GATA's accuracy with bank's gold swaps
Submitted by admin on Thu, 2024-08-01 15:11 Section: Daily Dispatches3:08p ET Thursday, August 1, 2024
Dear Friend of GATA and Gold:
GATA consultant Robert Lambourne today provides below his monthly report on the gold swaps maintained by the central bank of the central banks, the Bank for International Settlements, and superficially the report may seem ordinary, disclosing a small increase in BIS gold swaps from May to June, 7 tonnes, from 109 to 116.
Lambourne is too modest to highlight the most important development with the BIS' accounts. That is, the bank's annual report, dated March 31 --
Bill to create U.S. bitcoin reserve would finance it with gold revaluation
Submitted by admin on Wed, 2024-07-31 09:12 Section: Daily DispatchesU.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows
By Bradley Keoun
CoinDesk, New York
Tuesday, July 30, 2024
U.S. Senator Cynthia Lummis' plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk.
Looks like Argentina has leased or pawned its gold in London
Submitted by admin on Tue, 2024-07-30 10:50 Section: Daily DispatchesThe Mystery of Argentina's Gold: Milei Admits That It Was Transferred Abroad, Without Specifying the Quantities or Destination
By Havier Lorca
El Pais, Madrid
Sunday, July 28, 2024
Argentina's reserves, held by its central bank, include almost 2 million troy ounces of gold, valued at about $4.5 billion. But lately there's a question that's on everybody's lips: Where is it?
Was it taken out of the country? Did some of it remain within Argentina, while the rest was transferred abroad?
Well, the official information only offers partial answers.
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