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Daily Dispatches
Ronan Manly: This week's central bank gold data from World Gold Council was just made up
Submitted by admin on Fri, 2022-11-04 21:37 Section: Daily Dispatches9:39p ET Friday, November 4, 2022
Dear Friend of GATA and Gold:
Bullion Star gold market analyst Ronan Manly reveals tonight that most of the record gold buying by central banks that was reported this week by the World Gold Council cannot be documented or even reliably attributed. Rather, Manly finds, almost 78% of the central bank gold buying claimed by the gold council is just the estimate of a mysterious council consultant, unsupported by any official data.
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Gold Fields target Yamana catches eyes of Agnico Eagle and Pan American
Submitted by admin on Fri, 2022-11-04 18:31 Section: Daily DispatchesBy Helen Reid and Mrinalika Roy
Reuters
Friday, November 4, 2022
Agnico Eagle Mines Ltd.and Pan American Silver Corp swooped in Friday with a joint bid for Yamana Gold in an attempt to scupper Gold Fields' planned acquisition of the Canada-listed gold miner.
The cash and stock offer, valuing Yamana at around $4.8 billion, would see Agnico and Pan American split Yamana's mines between them. Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share, and 0.1598 of a Pan American Share for each share held.
Mystery whales baffle gold market after central bank purchases
Submitted by admin on Thu, 2022-11-03 11:43 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, November 3, 2022
A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers.
Central banks bought 399 tons of bullion in the third quarter, almost double the previous record, according to the World Gold Council. Just under a quarter went to publicly identified institutions, stoking speculation about mystery buyers.
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Alasdair Macleod: The Great Unwind, II
Submitted by admin on Thu, 2022-11-03 10:23 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 3, 2022
With price inflation rising out of control and interest rates rising strongly, the trading environment for commercial banks has fundamentally changed. With bad debts looming and bond prices in entrenched downtrends, procrastination is now the enemy of bankers.
We are at the beginning of The Great Unwind, and this article elaborates on my first article for Goldmoney on the subject, published here:
Ambrose Evans-Pritchard: Europe's next debt crisis is only starting, tearing north and south apart
Submitted by admin on Wed, 2022-11-02 12:23 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, November 2, 2022
The eurozone credit crunch has begun in earnest. Lending conditions across the currency bloc are the tightest since late 2012, when the region was still crippled by the sovereign debt crisis.
The European Central Bank's lending survey is a leading indicator of what is to come. Both the supply and demand for credit definitively buckled in the third quarter, even if the eurozone economy eked out a last gasp of legacy growth. Lending is deteriorating most rapidly in Italy and Spain.
Dutch central bank governor admits gold revaluation can restore bank's solvency
Submitted by admin on Wed, 2022-11-02 12:01 Section: Daily Dispatches12:11p ET Wednesday, November 2, 2022
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs reports today that the governor of the Netherlands central bank, Klaas Knot, is talking publicly about an upward revaluation of gold to restore the bank's solvency.
The central banker's comments might remind you of the gold revaluation speculations of the U.S. economists Paul Brodsky and Lee Quaintance and the Scottish economist Peter Millar, speculations GATA often has called to your attention:
USA Gold's 'News & Views' letter for November
Submitted by admin on Tue, 2022-11-01 10:27 Section: Daily Dispatches10:27a ET Tuesday, November 1, 2022
Dear Friend of GATA and Gold:
USA Gold's "News & Views" letter for November, published today, has excerpts from 15 analysts commenting on gold, currencies, and the economy. The letter is headlined "Steady Wins the Race" and it's posted in the clear at USA Gold here:
https://www.usagold.com/nv1047nov2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Who are the mystery buyers responsible for central bank gold boom?
Submitted by admin on Tue, 2022-11-01 07:50 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Monday, October 31, 2022
Central banks bought a record amount of gold last quarter as they diversified foreign-currency reserves, with a large chunk of the purchases coming from as yet unknown buyers.
Almost 400 tons were scooped up by central banks in the third quarter, more than quadruple the amount a year earlier, according to the World Gold Council. That takes the total so far this year to the highest since 1967, when the dollar was still backed by the metal.
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Record central bank buying lifts global gold demand, gold council says
Submitted by admin on Mon, 2022-10-31 23:14 Section: Daily DispatchesBy Peter Hobson
Reuters
Tuesday, November 1, 2022
LONDON -- Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council said today.
Demand for gold was also strong from jewellers and buyers of gold bars and coins, the gold council said in its latest quarterly report, but exchange traded funds storing bullion for investors shrank.
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Pure Gold shareholders face wipeout after junior fails at Red Lake mine
Submitted by admin on Mon, 2022-10-31 22:23 Section: Daily DispatchesBy Niall McGee
Globe and Mail, Toronto
Monday, October 31, 2022
Pure Gold Mining Inc. PGM-X shareholders face losing their entire investment with the junior miner filing for creditor protection after it failed to turn around its gold project in the notoriously hard-to-mine Red Lake district of Northern Ontario.
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