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Daily Dispatches
Tanzania starts buying domestic gold production to boost FX reserves
Submitted by admin on Fri, 2024-07-05 12:45 Section: Daily DispatchesBy Beatrice Materu
The East African, Nairobi, Kenya
via MSN.com, Redmond, Washington
Saturday, June 29, 2024
The Bank of Tanzania has started a large gold-buying initiative as part of a strategic drive to support the expansion of the mining industry and strengthen foreign exchange reserves.
The information was made public by Emmanuel Tutuba, the governor of the Bank of Tanzania, during his visit to the Geita Gold Refinery and the Mwanza Precious Metals Refinery Co. Ltd.
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Netherlands is ready to rebuild its financial system with gold
Submitted by admin on Wed, 2024-07-03 11:55 Section: Daily Dispatches11:54a ET Wednesday, July 3, 2024
Dear Friend of GATA and Gold:
Our friend the Dutch gold researcher Jaco Schipper today calls attention to a May 15 report from the public broadcasting service in the Netherlands, NOS, about the government's new fortress gold vault in the town of Zeist:
https://nos.nl/artikel/2475275-hoe-verplaats-je-in-het-geheim-15-miljard-aan-goudstaven-en-geld
Ross Norman: Gold is defying gravity
Submitted by admin on Tue, 2024-07-02 19:12 Section: Daily Dispatches7:13p ET Tuesday, July 2, 2024
Dear Friend of GATA and Gold:
Ross Norman, former proprietor of London bullion dealer Sharps Pixley, now CEO of Metals Daily, writes today that the price of gold has been rising not because of genuine physical demand but because of options buying on the Shanghai Futures Exchange.
India, four Southeast Asia countries plan instant retail cross-border payments
Submitted by admin on Tue, 2024-07-02 17:55 Section: Daily DispatchesBy Jaspreet Kalra
Reuters
via Yahoo Finance, Sunnyvale, California
Monday, July 1, 2024
https://finance.yahoo.com/news/india-four-se-asia-countries-082944639.html
MUMBAI -- The central banks of India, Malaysia, Thailand, Singapore, and the Philippines are working together to start an instant cross-border retail payments platform by 2026, the Bank of International Settlements said today.
New Jersey legislature again votes unanimously to end taxes on gold and silver
Submitted by admin on Mon, 2024-07-01 21:24 Section: Daily DispatchesBy Jp Cortez
Money Metals News Service, Eagle, Idaho
Monday, July 1, 2024
For the second time in less than a year, the New Jersey legislature has voted to end the sales tax on purchases of gold and silver coins, bars, and rounds without a single dissenting vote.
A2812 and S721, carried by Sens. Steinhardt and Sarlo and Asms. Greenwald, Swain, and Egan, enjoyed overwhelming support, passing the Senate by a vote of 40-0 and the Assembly with a 71-0 vote.
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Nigeria plans to bring gold reserves home to minimize risk
Submitted by admin on Mon, 2024-07-01 21:17 Section: Daily Dispatches... But has Nigeria actually gotten its metal back yet?
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By Mike Maharrey
Money Meals News Service, Eagle, Idaho
Monday, July 1, 2024
Even Nigeria is now bringing its gold reserves home to keep it safe from the West.
Gold-buying frenzy grips Vietnam and Thailand as economic fears mount
Submitted by admin on Mon, 2024-07-01 07:57 Section: Daily DispatchesBy Su-Lin Tan
South China Morning Post, Hong Kong
Monday, July 1, 2024
Anxious consumers in Vietnam and Thailand are rushing to buy gold -- a sign of Asia’s mounting alarm, analysts say, over currency devaluations against the US dollar, inflation, and geopolitical uncertainty.
Visible queues of buyers waiting to snap up chunks of the yellow metal have persisted outside banks in the Southeast Asian nations for months, in scenes that underscore a growing sense of economic and geopolitical instability rippling through the region.
Futures market's rigging of silver prices explained by Steer to Finance and Liberty
Submitted by admin on Fri, 2024-06-28 21:55 Section: Daily Dispatches9:53p ET Friday, June 28, 2024
Dear Friend of GATA and Gold (and Silver):
Dunagun Kaiser of the Liberty and Finance channel at YouTube today interviewed GATA board member Ed Steer, proprietor of Ed Steer's Gold and Silver Digest, to get an description of how the silver futures market in New York is used to control the monetary metal's price by trading banks working in collusion.
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GATA's Steer sees gold and silver price suppression weakening
Submitted by admin on Wed, 2024-06-26 23:50 Section: Daily Dispatches11:47p ET Wednesday, June 26, 2024
Dear Friend of GATA and Gold (and Silver):
Interviewed by Jesse Day for the Commodity Culture channel at YouTube, GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, discusses the increasing difficulty bullion banks are having in suppressing monetary metals prices.
Pam and Russ Martens: Fed posts record losses as it pays 5.4% interest to banks
Submitted by admin on Wed, 2024-06-26 11:32 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, June 26, 2024
According to Federal Reserve data, for the first time in its history, the Fed has been losing money on a consistent monthly basis since September 28, 2022.
As of the last reporting date of June 19, 2024, those losses add up to a cumulative $176 billion. As shown by the chart posted with this report, which uses Fed data, the losses thus far in 2024 have ranged from a monthly high of $11.076 billion in February to a low of $5.674 billion in May.
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