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Daily Dispatches

China extends gold buying with fresh flows to central bank

Section: Daily Dispatches

By Sing Yee Ong
Bloomberg News
Friday, January 6, 2023

China reported an increase in its gold reserves for a second straight month, topping up holdings again after its first reported purchase in more than three years.

The People's Bank of China raised its holdings by 30 tons in December, according to data on its website today. This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons. 

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Craig Hemke at Sprott Money: A forecast for gold and silver in 2023

Section: Daily Dispatches

8p ET Thursday, January 5, 2023

Dear Friend of GATA and Gold:

Writing at Sprott Money, Craig Hemke of the TF Metals Report gives his monetary metals forecast for 2023, predicting that the Federal Reserve will cause an economic recession in the United States by raising interest rates and then revert to "quantitative easing," sending the metals to record levels.

Hemke's analysis is headlined "One Step Beyond -- A Forecast for Gold and Silver in 2023" and it's posted at Sprott Money here:

Alasdair Macleod: The benefits of a savings culture

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney.Toronto
Thursday, January 5, 2023

Savings are a vital component of any successful economy, and the foolishness behind the paradox of thrift is exposed in this article. It has been a huge error for Keynesian policy makers to discourage savings in the interests of temporary boosts to consumerism.

With cash gone, Danish banks no longer get robbed

Section: Daily Dispatches

From the Associated Press
via ABC News, New York
Tuesday, January 3, 2023

COPENHAGEN, Denmark -- For the first time in years, Denmark hasn't recorded a single bank robbery. There wouldn't have been much point.

Cash transactions in the Nordic country have become virtually obsolete, with Danes increasingly opting to use cards and smart phones for payments.

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USAGold's January 'News & Views': Will gold return to all-time high in 2023?

Section: Daily Dispatches

From News & Views
USAGold.com
Centennial, Colorado
Tuesday, January 3, 2023

In 2022 gold held its own while the rest of the investment universe was taken to the woodshed. So what will 2023 bring? Is gold setting the stage for a return to all-time highs at $2075 per ounce? 

Many prominent analysts think that might be the case, particularly in light of the strong finish to 2022. 

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Ted Butler: 2022 was a momentous year for silver and gold

Section: Daily Dispatches

By Ted Butler
SilverSeek.com
Monday, January 2, 2023

The last couple of years have been significant in silver (and gold), not particularly price-wise, but in other important ways. 

For instance, 2020 was particularly noteworthy in that JPMorgan was partially brought to justice for its many years of manipulating the price of precious metals on the Comex and agreeing to settle with the Justice Department and Commodity Futures Trading Commission for a reported $920 million.

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Frank Holmes: Gold was the most popular asset of 2022

Section: Daily Dispatches

By Frank Holmes
U.S. Global Investors, San Antonio
Wednesday, December 27, 2022

Any way you slice it, 2022 was a turbulent year, from Russia's invasion of Ukraine to historic inflation and jumbo rate hikes to multiple failures in the digital asset space. These have had wide-ranging implications for the world of finance that are sure to carry over into next year.

LME ends chaotic year with metal stockpiles perilously low

Section: Daily Dispatches

By Mark Burton
Bloomberg News
Friday, December 30, 2022

The London Metal Exchange will enter 2023 with the smallest available warehouse stockpiles in at least 25 years, setting the stage for future squeezes and spikes if demand turns out stronger than expected.

Ambrose Evans-Pritchard: Zero-Covid disaster destroys Xi's authoritarian dreams

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, December 29, 2022

China’s lurch from extreme zero-Covid to extreme herd immunity is a watershed moment in the global ideological struggle of our age, an unanswerable illustration of why autocratic regimes are less successful in the end than messy liberal democracies.

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