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Daily Dispatches
Global food prices post biggest jump in decade
Submitted by admin on Thu, 2021-06-03 13:29 Section: Daily DispatchesBy Emiko Terazono
Financial Times, London
Thursday, June 3, 2021
Global food prices surged by the biggest margin in a decade in May as one closely watched index jumped 40 percent, raising fears of further food inflation later in the year.
The year-on-year leap in the U.N. Food and Agriculture Organization's monthly food price index was the largest since 2011 and signalled that inflation initially stoked by pandemic disruption is accelerating.
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India's gold revamp pushes on as spot trading draws closer
Submitted by admin on Thu, 2021-06-03 00:01 Section: Daily DispatchesBy Swansy Afonso and Ranjeetha Pakiam
Bloomberg News
Thursday, June 3, 2021
India is moving closer toward setting up spot contracts for gold, finalizing rules for trading and providing the world's second-biggest consumer a firmer grasp over setting the price of bullion.
U.S. Mint says silver shortage is only for 'blanks,' as if all forms of silver aren't fungible
Submitted by admin on Wed, 2021-06-02 21:30 Section: Daily Dispatches9:38p ET Wednesday, June 2, 2021
Dear Friend of GATA and Gold:
The U.S. Mint today issued to its customers what it called a "clarification" regarding its May 28 statement --
-- citing a "global silver shortage" as the cause of the mint's suspending orders for new silver coins.
But today's statement was more like an obfuscation than a clarification.
U.S. money market funds struggle as short-term rates near negative territory
Submitted by admin on Wed, 2021-06-02 10:45 Section: Daily DispatchesBy Colby Smith and Joe Rennison
Financial Times, London
Wednesday, June 2, 2021
A sector of the U.S. finance industry that looks after $4 trillion of savings for individuals and businesses has come under severe strain as U.S. markets flirt with negative interest rates.
Money market funds investing in short-term government debt have taken in hundreds of billions of dollars of new money from savers in recent months. But there is stiff competition to tap a dwindling supply of low-risk assets that generate positive returns.
Indonesia eyes greater financial inclusion with gold-based blockchain system
Submitted by admin on Tue, 2021-06-01 22:23 Section: Daily DispatchesBy Tracy Hu and Rebecca Isjwara
S&P Global, New York
Monday, May 31, 2021
The Indonesian government's plan to launch a blockchain-based, precious metals-backed payments and savings platform outside the banking system will likely drive financial inclusion further in a country where about 51% of adults, or 95 million citizens, are unbanked.
Craig Hemke at Sprott Money: Gold price dips are 'transitory,' not inflation
Submitted by admin on Tue, 2021-06-01 21:46 Section: Daily Dispatches9:45p ET Tuesday, June 1, 2021
Dear Friend of GATA and Gold:
Inflation isn't going to be "transitory," as the Federal Reserve keeps insisting, but dips in the price of gold will be, Craig Hemke of the TF Metals Report writes tonight at Sprott Money.
The Federal Reserve soon will commandeer and suppress all interest rates with "yield-curve control," Hemke writes, and this will be "incredibly bullish" for gold.
Hemke's analysis is headlined "Gold Price Dips Are Transitory" and it's posted at Sprott Money here:
Peru's elite in panic at prospect of hard-left victory in presidential election
Submitted by admin on Tue, 2021-06-01 11:26 Section: Daily DispatchesBy Michael Stott
Financial Times, London
Tuesday, June 1, 2021
Ravaged by one of the world's worst coronavirus outbreaks, wracked by political turmoil, scarred by corruption scandals and blighted by worsening poverty, Peru will choose its fourth president in under a year on June 6.
Described by many observers as a choice between the lesser of two evils, the second-round run-off election pits Pedro Castillo, a rural primary school teacher turned hard-left populist, against Keiko Fujimori, the widely disliked scion of an authoritarian president who ruled in the 1990s.
USAGold's June 'News & Views' letter highlights likely impact of inflation and Basel 3
Submitted by admin on Tue, 2021-06-01 11:16 Section: Daily Dispatches11:12a ET Tuesday, June 1, 2021
Dear Friend of GATA and Gold:
"Inflation's Surprise Spring Offensive" is the headlined on USAGold's "News & Views" letter for June. But there are also sections on the recent strong demand for gold that has been vaulted at the Bank of England, the potential impact of the "Basel 3" regulations, and the usual interesting quotes.
The June "News & Views" letter is posted in the clear at USAGold here:
Eurozone inflation tops ECB target for first time since 2018
Submitted by admin on Tue, 2021-06-01 10:55 Section: Daily DispatchesBy Martin Arnold
Financial Times, London
Tuesday, June 1, 2021
Eurozone inflation rose to 2 percent in May, the first time the rate has surpassed the European Central Bank's target in more than two years, complicating policymakers’ decision next week on whether to maintain its ultra-loose monetary policy.
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Hugo Salinas Price: On June 28 the BIS caves in to Russia and China
Submitted by admin on Mon, 2021-05-31 18:24 Section: Daily Dispatches6:22p Monday, May 31 2021
Dear Friend of GATA and Gold:
Hugo Salinas Price of the Mexican Civic Association for Silver speculates today that Russian President Vladimir Putin belatedly called off an important speech in April because he was to have announced a link between the ruble and gold and this frightened the Bank for International Settlements, which has its own plans for reforming the gold market.
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