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Daily Dispatches

Burkina Faso begins construction of its first gold refinery

Section: Daily Dispatches

From Agence France-Presse
via Barron's, New York
Thursday, November 23, 2023

Burkina Faso's junta-led government today launched the construction of the country's first refinery for gold, Burkina's main mineral resource, an AFP journalist said.

The refinery will have a production capacity of around 400 kilograms (880 pounds) of gold per day, according to Ismael Siby, CEO of the refinery's co-managing company, Marena Gold.

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Perth Mint avoids fine despite many compliance failures

Section: Daily Dispatches

By Hamish Hastie
Sydney Morning Herald
Thursday, November 23, 2023

The taxpayer-owned Perth Mint and its operator Gold Corp. have avoided a fine despite Australia's finance watchdog uncovering a litany of failures in its compliance with anti-money laundering and terrorism finance laws.

Instead, Gold Corp. has entered into an "enforceable undertaking" with the Australian Transaction Reports and Analysis Centre, which sets in stone a requirement for the organisation to fix its anti-money laundering compliance rules in full by April 2025.

Alasdair Macleod: Central banks are always managing the crises they cause

Section: Daily Dispatches

By Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, November 23, 2023

This article concludes that the current downturn in bond yields is part of a continuing market manipulation by central banks in order to restore confidence in the global economic outlook.

There is a long history of government intervention in markets. In the nineteenth century, it was by legal regulation, the most notable of which was the 1844 Bank Charter Act, which had to be suspended in 1847, 1857, and 1866.

Mali signs agreement with Russia to build gold refinery

Section: Daily Dispatches

By Tiemoko Diallo
Wednesday, November 22, 2023

BAMAKO, Mali -- Mali's military government said it has signed an agreement with Russia to build a gold refinery in the capital, Bamako, one of a slew of deals between the two countries as Russia seeks to extend its regional influence.

The accord, a non-binding memorandum of understanding, involves building a 200-tonnes-per-year refinery, minister Alousséni Sanou said in an interview on state television broadcast late Tuesday.

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Save Canadian Mining announces Black Friday emergency session on short selling

Section: Daily Dispatches

Industry Legends Eric Sprott, Wes Christian, and David Wenger to Join Save Canadian Mining Podcast

Organization Announcement
via PRNewsire / Cision, Chicago
Friday, November 17, 2023

TORONTO -- In response to multiple developments around the world and dire actions here at home, Save Canadian Mining is making an urgent appeal. 

If you are an investor in any Canadian mining stocks or a Canadian mining executive, you need to join us for this session on Black Friday, November 24, at 10 a.m. ET.

Ed Steer: India imports 60 million ounces of silver in October

Section: Daily Dispatches

7:10p ET Monday, November 20, 2023

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 "India Imports 60 Million Ounces of Silver in October" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:

Chinese, Saudi central banks sign currency swap worth $7 billion

Section: Daily Dispatches

Fahad Abuljadayel and Yujing Liu
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, November 20, 2023

China and Saudi Arabia have signed a local-currency swap agreement worth around $7 billion, deepening their ties as countries across the Middle East look to shift more of their non-oil trade away from the dollar.

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India's October gold imports surge to 31-month high

Section: Daily Dispatches

By Rajendra Jadhav
via, New York
Monday, November 20, 2023

MUMBAI -- India's October gold imports surged 60% from a year earlier to a 31-month high as a drop in prices ahead of a key festival prompted jewellers to ramp up purchases, a government source said today.

Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices but also may widen India's trade deficit and put pressure on the ailing rupee.

New York Sun: A radical libertarian triumphs in a country whose name means money

Section: Daily Dispatches

From the New York Sun
Monday, November 20, 2023

What a moment for the country whose name means money. 

The victory in the Argentina presidential elections of the radical free-market libertarian Javier Milei certainly puts a spanner into whatever gears are turning Latin America to the left. The leftist economic minister, Sergio Massa, a Perónist, conceded defeat in the runoff even before the official account was released -- opening the way for the populist Javier Milei.

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Argentina elects 'shock therapy' libertarian Javier Milei as president

Section: Daily Dispatches

Goodbye, slavery to Argentina's central bank. Hello, slavery to the Federal Reserve.

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By Nicolas Misculin, Lucinda Elliott, and Walter Bianchi
Sunday, November 19, 2023

BUENOS AIRES -- Argentina elected right-wing libertarian Javier Milei as its new president today, rolling the dice on an outsider with radical views to fix an economy battered by triple-digit inflation, a looming recession, and rising poverty.