You are here
Daily Dispatches
Fed soon will have to drop gold suppression policy, Maguire tells LFTV
Submitted by admin on Sat, 2024-04-06 20:17 Section: Daily Dispatches8:18p ET Saturday, April 6, 2024
Dear Friend of GATA and Gold (and Silver):
London metals trader Andrew Maguire, commmenting on this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand, says central banks have huge bids for physical gold just below the current market price and will raise their bids if the price moves up.
... Dispatch continues below ...
... ADVERTISEMENT ...
More states nixing sales tax on gold and silver bullion
Submitted by admin on Sat, 2024-04-06 09:39 Section: Daily DispatchesBy Danielle Muoio Dunn
Bloomberg News
Friday, April 5, 2024
It's getting a little less expensive across the country to buy investment metals like gold bars and silvercoins, as more states take up measures granting them exemptions from sales tax.
At least 44 states have either fully or partially repealed the sales tax on purchases of gold and silver, according to the Sound Money Defense League, a group funded by online dealer Money Metals Exchange.
... Dispatch continues below ...
Biggest gold miners are missing out on bullion's record run
Submitted by admin on Fri, 2024-04-05 15:47 Section: Daily DispatchesBy Jacob Lorinc
Bloomberg News
via Yahoo Finance, Sunnyvale, California
Friday, April 5, 2024
The world's biggest gold miners are at risk of missing out on the metal's record run after spending billions of dollars to become the obvious home for bullion-focused investors.
Despite gold hitting all-time highs almost daily, Newmont Corp. shares were down about 6% this year to Thursday's market close, while rival Barrick Gold Corp.'s stock had fallen about 2%.
... Dispatch continues below ...
How Zimbabwe plans to link its new money supply with gold reserves
Submitted by admin on Fri, 2024-04-05 15:15 Section: Daily DispatchesFrom Al Jazeera, Doha, Qatar
Friday, April 5, 2024
...Analysts have questioned whether Harare has enough reserves to adequately back the new currency, and if the latter could suffer from volatility in gold prices.
On Thursday, President Emmerson Mnangagwa inspected the central bank's vaults that [John] Mushayavanhu [the governor of Zimbabwe’s Reserve Bank] -- who was appointed earlier this year -- said hold 1.1 tonnes of solid gold.
... Dispatch continues below ...
... ADVERTISEMENT ...
Canada's other export powerhouse: gold
Submitted by admin on Fri, 2024-04-05 12:23 Section: Daily DispatchesBy Jason Kirby
The Globe and Mail, Toronto
Thursday, April 4, 2024
There's gold in them thar exports. Lots of it.
The shiny yellow metal doesn't get nearly the same attention from Canadian policymakers as the energy and automotive sectors do, but exports of gold have soared in recent years and are close to surpassing passenger vehicles to become Canada's second-largest export commodity.
... Dispatch continues below ...
... ADVERTISEMENT ...
Zimbabwe pledges to limit its circulating currency value to the value of its gold reserves
Submitted by admin on Fri, 2024-04-05 12:10 Section: Daily DispatchesZimbabwe launches new gold-backed currency, the ZiG
By Singai Nyoka
British Broadcasting Corp.
Friday, April 5, 2024
Zimbabwe has introduced a new gold-backed currency called ZiG. The name stands for "Zimbabwe Gold."
It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years.
Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate.
Alasdair Macleod: Why are gold and bond yields rising together?
Submitted by admin on Fri, 2024-04-05 11:36 Section: Daily DispatchesBy Alasdair Macleod
Friday, April 5, 2024
... The answer can only be that the big, mainly Asian wealth funds look at the U.S. government's finances and see deep trouble.
The only way the U.S. government can satisfy its voracious appetite for debt is at higher interest rates and bond yields. And if interest rates go higher, they will crash financial markets, bring about commercial property and corporate insolvencies, and threaten the entire banking system.
... Dispatch continues below ...
India's central bank builds gold reserves for 'reserve deployment'
Submitted by admin on Fri, 2024-04-05 11:10 Section: Daily DispatchesFrom the Press Trust of India
via Business Standard, New Delhi
Friday, April 5, 2024
Reserve Bank Governor Shaktikanta Das said today India has been building up gold reserves as part of its forex deployment.
"We are building up gold reserves. That is a part of our reserve deployment," Das told reporters at the customary post-policy review press conference here.
... Dispatch continues below ...
... ADVERTISEMENT ...
Asia pushes Western gold price riggers out of the way, Giustra says
Submitted by admin on Thu, 2024-04-04 20:32 Section: Daily Dispatches8:30p ET Thursday, April 4, 2024
Dear Friend of GATA and Gold:
Interviewed today by Michelle Makori of Kitco News, gold mining and movie entrepreneur Frank Giustra says the longtime Western suppressors of the gold price seem to have been suddenly pushed out of the way by Asian buyers.
The interview is not quite 10 minutes long and can be viewed at YouTube here:
China moves again to restrain public's demand for gold
Submitted by admin on Sun, 2024-03-31 20:25 Section: Daily DispatchesChinese Banks Raise Purchase Thresholds for Gold Products in Warning to Retail Investors
By Xia Yining and Kelsey Cheng
Caixin Global, Beijing
Saturday, March 30, 2024
At least six Chinese banks have raised investment thresholds for their gold savings accounts, in an attempt to warn retail investors of potential risks amid a price rally and growing demand for the safe-haven asset.
Pages
