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Daily Dispatches

Can the UAE outshine Switzerland with gold?

Section: Daily Dispatches

By Dominique Soguel and Pauline Turuban
Swiss Info / Swiss Broadcasting Corp., Bern
Wednesday, January 31, 2024

Switzerland sits at the heart of Europe and has for decades been the dominant player in the global gold industry both in terms of refining capacity and trading. But the United Arab Emirates, which lies at the crossroads of the West and an increasingly affluent East, is threatening that supremacy, having built its position quietly over the past two decades.

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Alasdair Macleod: Tides of change in gold paper markets

Section: Daily Dispatches

3p ET Wednesday, January 31, 2024

Dear Friend of GATA and Gold:

Market analyst and GoldMoney research director Alasdair Macleod writes today that open interest in the gold futures contract on the New York Commodities Exchange has fallen sharply in recent days.

He concludes that the decline in the contract's liquidity will make prices more volatile and market rigging more difficult.

Macleod's analysis is headlined "Tides of Change in Gold Paper Markets" and it's posted at his internet site here:

Silver miners urge adding the metal to Canada's critical minerals list

Section: Daily Dispatches

2:50p ET Wednesday, January 31, 2024

Dear Friend of GATA and Gold (and that other monetary metal, Silver):

Twenty executives of Canadian silver mining companies today sent a letter to Canada's minister of energy and natural resources, Jonathan Wilkinson, asking that silver be added to the country's official list of critrical minerals.

Along with gold, silver already seems to be on the U.S. government's list of critical currencies whose markets must be manipulated and their prices suppressed lest they resume their historic competition with the U.S. dollar.

Gold demand to hit record with central bank buying, gold council says

Section: Daily Dispatches

Will price suppression hit a record too? The council didn't say.

* * *

By Yvonne Yue Li
Bloomberg News
Wednesday, January 31, 2024

Total gold demand hit a record last year and is expected to expand again in 2024 as the U.S. Federal Reserve moves toward cutting interest rates, potentially aiding prices, according to the World Gold Council.

GATA's Steer talks silver deficit, China's gold accumulation, and confiscation

Section: Daily Dispatches

12:48p ET Tuesday, January 30, 2024

Dear Friend of GATA and Gold:

GATA board member Ed Steer, publisher of Ed Steer's Gold & Silver Digest, was just interviewed by radio talk-show host Dave Janda on WAAM-AM600 in Ann Arbor, Michigan, discussing, among other things, the structural deficit in silver, China's heavy accumulation of gold, and the possibility of government confiscation of privately owned gold.

The interview is 24 minutes long and can be heard at Janda's internet site here:

With 40,000 tonnes, China can trigger a weaponized gold revaluation at any time, Maguire says

Section: Daily Dispatches

10:23p ET Friday, January 26, 2024

Dear Friend of GATA and Gold:

China likely has 20 times the 2,200 tonnes in gold reserves it has officially reported, or 40,000 tonnes, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program, making a weaponized gold price revaluation possible at any time.

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China's gold imports surge to record high as appetite increases, middle class guards wealth

Section: Daily Dispatches

By Mia Nulimaimaiti
South China Morning News, Hong Kong
Friday, January 26, 2024

China's appetite for gold rose to record high levels last year, as investors sought to secure their assets and limit uncertainties caused by a weak yuan, an ongoing property slump and fears over a stock market rout.

Imports of gold for non-monetary use -- products including gold jewellery -- rose to 1,447 tonnes last year, breaking the previous record of 1,427 tonnes in 2018, according to the General Administration of Customs.

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GATA's Murphy, GoldSeek's Waltzek ponder whether this will be gold's year

Section: Daily Dispatches

10:32p ET Wednesday, January 24, 2024

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, discusses whether this will be the year when the fundamentals of gold and silver demand finally are reflected in prices now that gold seems to be holding above $2,000 per ounce.

The interview is 15 minutes long and can be heard at Goldseek here:

UK to loan back Ghana's looted 'crown jewels'

Section: Daily Dispatches

By Katie Razzall
British Broadcasting Corp. London
Wednesday, January 24, 2024

The UK is sending some of Ghana's "crown jewels" back home, 150 years after looting them from the court of the Asante king.

A gold peace pipe is among 32 items returning under long-term loan deals, the BBC can reveal.

The Victoria & Albert Museum (V&A) is lending 17 pieces and 15 are from the British Museum.

Ghana's chief negotiator said he hoped for "a new sense of cultural co-operation" after generations of anger.

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Pam and Russ Martens: Inspector general whitewashes former Fed official's trading

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Wednesday, January 24, 2024

To read mainstream media headlines, one would think that the Federal Reserve inspector general's office has exonerated former Dallas Fed President Robert Kaplan of any legal action for trading like a hedge fund kingpin while he was privy to insider information at the Fed.