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Daily Dispatches
China's central bank adds gold for ninth straight month
Submitted by admin on Mon, 2023-08-07 09:57 Section: Daily DispatchesOr announces an addition anyway. No official gold data is very complete or reliable.
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By Sybilla Gross
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 7, 2023
China raised its gold reserves for a ninth straight month in July as central bank purchases continue to underpin prices of the precious metal.
Venezuela's gold reserves fall nearly 12% in six months
Submitted by admin on Fri, 2023-08-04 20:35 Section: Daily DispatchesFrom Reuters
Friday, August 4, 2023
CARACAS -- Venezuela's gold reserves fell by 8 metric tons in the year's first half, central bank data showed today, continuing a years-long reduction in the reserves amid a prolonged economic crisis.
The drop in the first six months of 2023 brought the central bank's total reserves to 61 tons, down from 69 tons in December 2022.
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Jan Nieuwenhuijs: Central banks admit they can regain solvency with gold revaluation
Submitted by admin on Thu, 2023-08-03 20:55 Section: Daily Dispatches9p ET Thursday, August 3, 2023
Dear Friend of GATA and Gold:
Gold market researcher Jan Nieuwenhuijs notes today that some European central banks, particularly the Geman Bundesbank, openly acknowledge that national gold reserves, as registered in central bank gold revaluation accounts, are capable of restoring a central bank's solvency against any and all losses from their holdings of government bonds.
Russia to resume buying currency and gold as energy income revives
Submitted by admin on Thu, 2023-08-03 19:15 Section: Daily DispatchesFrom Bloomberg News
Thursday, August 3, 2023
Russia will start buying foreign currency and gold as a recovery in energy revenue brought it above the target set in the budget.
The Finance Ministry said today it will purchase 40.5 billion rubles ($433 million) during the Aug. 7-Sept. 6 period under a budgetary mechanism designed to insulate the economy from the volatility of commodity markets.
Alasdair Macleod: Gold is replacing the dollar
Submitted by admin on Thu, 2023-08-03 12:06 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, August 3, 2023
Financial developments in the Russian and Chinese axis are being generally ignored. The confirmation by Russia that a trade settlement currency for an expanded BRICS group is on the agenda at the Johannesburg summit this month has barely been reported, and even sound money advocates are highly sceptical.
Ronan Manly: Poland bought nearly 50 tonnes over 3 months and plans to buy another 50
Submitted by admin on Wed, 2023-08-02 21:51 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Wednesday, August 2, 2023
Poland's central bank, Narodowy Bank Polski, is officially the biggest central bank gold buyer in the second quarter of 2023, having accumulated a massive 48.52 tonnes of monetary gold between April, May, and June this year. This is the first time in nearly fpir years since the Polish central bank last bought gold for its reserves.
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USAGold's 'News & Views' letter for August has July's top 10 commentaries
Submitted by admin on Tue, 2023-08-01 15:17 Section: Daily Dispatches3:15p ET Tuesday, August 1, 2023
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for August with its top 10 gold-related reports and commentaries for the past month is pretty encouraging for the monetary metal and it's posted here:
https://mailchi.mp/37bf34950879/top-ten-articles-for-july-news-views-subscription
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Forget China -- The hot money in mining is suddenly Saudi
Submitted by admin on Mon, 2023-07-31 19:00 Section: Daily DispatchesBy Thomas Biesheuvel and Jacob Lorinc
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, July 31, 2023
A $2.6 billion deal announced last week has set the stage for a potentially landmark shift in the metal and mining investment landscape: the arrival of Saudi Arabia as a pivotal player.
One big gold seller among central banks has even more to offload
Submitted by admin on Mon, 2023-07-31 18:46 Section: Daily DispatchesBy Nariman Gizitdinov
Bloomberg News
Sunday, July 30, 2023
In a turnaround that has already taken it from one of the biggest gold buyers to a top seller this year, Kazakhstan's central bank is looking to cut the metal's share to as low as half of its $34.5 billion reserves.
BIS inadvertently confirms accuracy of GATA's penetration of gold swap data
Submitted by admin on Mon, 2023-07-31 00:01 Section: Daily Dispatches11:58p ET Sunday, July 30, 2023
Dear Friend of GATA and Gold:
GATA's consultant about the Bank for International Settlements, Robert Lambourne, was too modest to make a big deal of it tonight in his update about the bank's intervention in the gold market via gold swaps --
https://www.gata.org/node/22751
-- but the bank's annual report inadvertently has confirmed the longstanding accuracy of his analysis.
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