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Daily Dispatches
Robert Lambourne: BIS gold swaps rose 10 tonnes from February to April
Submitted by admin on Fri, 2024-05-31 07:57 Section: Daily DispatchesBy Robert Lambourne
Friday, May 31, 2024
Gold swaps undertaken by the Bank for International Settlements appear to have risen slightly in March and April, according to the bank's monthly statements of account for those months, both published this week:
Vietnam's central bank to sell gold through state banks to quell prices
Submitted by admin on Thu, 2024-05-30 12:22 Section: Daily DispatchesBy Quynh Trang
VN Express, Hanoi
Wednesday, May 29, 2024
The State Bank of Vietnam, in a move to stabilize gold prices, will sell gold bars to four state-owned lenders so they can distribute them to retail buyers.
The sale will begin June 3 at prices determined by the central bank, bank Deputy Governor Pham Quang Dung said Wednesday.
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Pam and Russ Martens: Academic study documents revolving door between big banks and regulators
Submitted by admin on Thu, 2024-05-30 12:12 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, May 30, 2024
Ronan Manly: Trends and developments in central bank gold buying
Submitted by admin on Thu, 2024-05-30 11:59 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Thursday, May 30, 2024
As we approach mid-year 2024 in the environment of an all-time high U.S. dollar gold price, it's notable that central bank gold buying continues to be one of the themes dominating gold market discussion.
In uncertain times, gold jewellery offers financial security
Submitted by admin on Wed, 2024-05-29 15:21 Section: Daily DispatchesWhen gold is remonetized, India may be the richest country in the world.
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By Yumna Iftikhar
The Globe and Mail, Toronto
Tuesday, May 28, 2024
As a child Adiba Ahmed didn't understand why her mother loved gold jewellery. But when her family came under financial stress and her mother sold the gold to keep them afloat, Ahmed realized that gold jewellery could be a reliable emergency fund.
Pam and Russ Martens: JPMorgan Securities is fined $100 million for spoofing and high-frequency-trading violations
Submitted by admin on Tue, 2024-05-28 11:23 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesday, May 28, 2024
How does a Wall Street trading firm gain competitive advantage to entice spoofers and high-frequency trading firms to use its trading platforms instead of those of its competitors?
How about having its trading compliance personnel wear a blindfold as billions of trades occur over the span of eight or nine years?
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Robert Lambourne: Interest cost of U.S. 'special debt' still falls as debt and rates rise
Submitted by admin on Mon, 2024-05-27 10:55 Section: Daily DispatchesBy Robert Lambourne
May 27, 2024
This note updates a report from March 17 concerning the gross interest cost reported in the last 12 monthly U.S. Treasury statements for the Federal government. That report is here:
India's central bank buys 1.5 times more gold in January-April than in all of 2023
Submitted by admin on Wed, 2024-05-22 22:47 Section: Daily DispatchesBy Gayatri Nayak
The Times of India, Mumbai
Thursday, May 23, 2024
The Reserve Bank of India added 24 tonnes of gold to its stock of reserves in four months from January to April this year as a hedge against volatility amid geopolitical tensions. This is reckoned to be a part of strategic diversification of reserves in challenging times.
This is almost 1 1/2 times the volume it did during the whole of 2023 when it added 16 tonnes to its reserves, an analysis of the Reserve Bank data indicates.
Jan Nieuwenjuijs: Strong PBoC and Chinese private-sector buying continues to boost gold
Submitted by admin on Wed, 2024-05-22 11:15 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Wednesday, May 22, 2024
Chinese private-sector gold imports accounted for 543 tonnes in the first quarter, while the People's Bank of China added 189 tonnes to its reserves over this time.
Most of the PBoC's purchases are "unreported."
China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.
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Zimbabwe asks miners to boost gold output to support new ZiG currency
Submitted by admin on Tue, 2024-05-21 11:30 Section: Daily DispatchesBy Godfrey Marawanyika
Bloomberg News
Monday, May 20, 2024
Zimbabwe has asked gold miners across the country to ramp up output to support the ZiG currency launched last month, according to Mines and Mining Development Minister Winston Chitando.
"This new currency is anchored on gold production. We have to determine ways to increase production," Chitando said Monday in a meeting with miners in the capital, Harare.
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