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Daily Dispatches
Switzerland shipped $3.6 billion of gold to Turkey in January, most since at least 2012
Submitted by admin on Tue, 2023-02-21 20:45 Section: Daily DispatchesBy Peter Hobson
Reuters
Tuesday, January 22, 2023
LONDON -- Switzerland sent 58.3 tonnes of gold worth 3.3 billion Swiss francs ($3.6 billion) to Turkey in January, by far the most for any month in records stretching back to 2012, Swiss customs data showed today.
Gold is traditionally seen as a safe means of storing wealth and Turkish demand for the metal has rocketed as sky-high inflation erodes the value of the local lira currency.
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Mississippi legislature votes overwhelmingly to end sales taxes on gold and silver
Submitted by admin on Tue, 2023-02-21 19:42 Section: Daily DispatchesBy JP Cortez
Money Metals News Service, Eagle, Idaho
Tuesday, February 21, 2023
JACKSON, Mississippi -- Both houses of the Mississippi Legislature have just voted overwhelmingly to exempt physical gold, silver, platinum, and palladium coins and bullion from the state sales tax, sending the bill to Governor Tate Reeves for his signature.
Monetary metals will outperform amid inflation, GATA chairman tells GoldSeek Radio
Submitted by admin on Tue, 2023-02-21 19:29 Section: Daily Dispatches7:30p ET Tuesday, February 21, 2023
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed by Chris Waltzek of GoldSeek Radio, argues that the monetary metals will outperform other assets as inflation continues and especially when price-suppression efforts are exhausted. The interview is 11 minutes long and can be heard at GoldSeek Radio here:
Ted Butler urges CFTC to catch up with the latest CoT reports first
Submitted by admin on Mon, 2023-02-20 19:54 Section: Daily Dispatches7:53p ET Monday, February 20, 2023
Dear Friend of GATA and Gold (and Silver):
Silver market analyst Ted Butler today makes a compelling suggestion to the U.S. Commodity Futures Trading Commission: that to catch up with the weeks-long backlog in the commitment-of-trader reports in the commodity futures markets, the commission should begin with the most recent weeks, not the weeks whose reports have been delayed the longest.
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China's U.S. Treasury holdings hit 12-year low on rate hikes, tensions
Submitted by admin on Mon, 2023-02-20 09:30 Section: Daily DispatchesBy Yuta Saito and Iori Kawate
Nikkei Asia, Tokyo
Friday, February 17, 2023
China's U.S. government bond holdings hit the lowest in over 12 years at the end of December, while its gold trove grew against a backdrop of American interest rate hikes and bilateral tensions.
Chinese holdings of Treasury securities fell for the fifth straight month in December to $867 billion, data published Wednesday by the U.S. Treasury Department shows.
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Barrick CEO blasts rivals for chasing mergers -- while grappling with his own big writedown
Submitted by admin on Fri, 2023-02-17 09:45 Section: Daily DispatchesBy Tim Kiladze
The Globe and Mail, Toronto
Wednesday, February 15, 2023
https://www.theglobeandmail.com/business/article-barrick-stocks-q4-losses/
Barrick Gold Corp. CEO Mark Bristow cannot believe rival miners are contemplating expensive mergers and acquisitions all over again, after the industry suffered through tens of billions of dollars' worth of merger and acquisition writedowns when the last commodity supercycle crashed.
From an African hell hole, Reuters suggests that gold is the ultimate money
Submitted by admin on Thu, 2023-02-16 19:44 Section: Daily DispatchesBurkina Faso Buys 200 kg of Gold from Endeavour's Mana Mine
From Reuters
Thursday, February 16, 2023
OUAGADOUGOU, Burkina Faso -- Endeavour Mining has sold kilograms (7054.79 oz) of gold from its Mana mine in Burkina Faso to the West African country's government, the company told Reuters on Wednesday.
The UK-headquartered multinational is the biggest gold miner in Burkina Faso, which is funding a battle against a rampant jihadist insurgency that spurred two military coups last year.
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India's January gold imports plunge 76% to 32-month low
Submitted by admin on Thu, 2023-02-16 19:27 Section: Daily DispatchesBy Rajendra Jadhaw
Reuters
Thursday, January 16, 2023
MUMBAI -- India's January gold imports plunged 76% from a year earlier to a 32-month low on subdued demand after domestic prices rallied to record highs and as jewellers postponed purchases, hoping for a reduction in import duty, a government source said.
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Alasdair Macleod: Gold's return as money
Submitted by admin on Thu, 2023-02-16 12:42 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney. Toronto
Thursday, February 16, 2023
The consequences of Russia and her Asian allies embracing gold backing for their currencies are poorly understood in western capital markets. This move could lead to the destruction of the global fiat currency system.
Newcrest tells Newmont to raise its acquisition bid
Submitted by admin on Wed, 2023-02-15 21:42 Section: Daily DispatchesBy Nick Toscano
Sydney Morning Herald
Thursday, February 16, 2023
Top Australian gold miner Newcrest has rejected a takeover proposal from U.S. mining giant Newmont, arguing that it undervalues the company, but has agreed to open its books to see if it can extract a higher offer from the suitor.
Newmont, the world's largest listed gold miner, launched a bid this month to acquire all of Melbourne-based Newcrest's shares at a 22% premium to their previous closing price in a deal that values the company at nearly $US17 billion (A$24.4 billion).
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