Daily Dispatches

7:22p Monday, March 8, 2021

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly writes today that while the Bank of Nova Scotia has given up its New York Commodities Exchange metals vault in New York, the bank -- contrary to what news reports have suggested -- has not gotten out of the monetary metals business as a consequence of its U.S. conviction for market manipulation.

By Dave Kranzler
Investment Research Dynamics, Denver
Monday, March 8, 2021

The sharp selloff in gold and silver these past two weeks has taken many by surprise, including me, especially given the growing shortage of physical gold and silver. 

Make no mistake, the majority of the price decline in both metals has taken place in the paper derivative trading in London and New York. We subscribe to John Brimelow's Gold Jottings report. It's expensive but contains valuable data on the Indian, Chinese, Turkish, and Vietnamese gold market on a daily basis.

By Luke Hunt
Voice of America, Washington
Sunday, March 7, 2021

PHNOM PENH, Cambodia -- The National Bank of Cambodia, the country's central bank, is aiming to reduce the country's dependence on the U.S. dollar with the introduction of digital currencies and the phasing out of small-denomination U.S. currency -- $1, $2, and $5 bills -- in favor of the local currency, the riel.

10:40a ET Monday, March 7, 2021

Dear Friend of GATA and Gold:

Bullion banks massively covered short gold futures positions last week as hedge funds sold most of their long positions, GoldMoney research director Alasdair Macleod tells King World News. He says the banks likely will continue covering shorts this week. 

Macleod adds that Federal Reserve banking rules seem to be about to force banks to impose negative interest rates on their biggest customers.

Macleod's comments are posted in text along with an audio interview at KWN here: