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Daily Dispatches
Jan Nieuwenhuijs: Saudi central bank caught secretly buying 160 tonnes of gold in Switzerland
Submitted by admin on Thu, 2024-09-12 15:49 Section: Daily DispatchesBy Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Thursday, September 12, 2024
The Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price.
Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market.
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AngloGold makes $2.5 billion deal for Centamin, targets 'Tier 1' assets
Submitted by admin on Tue, 2024-09-10 17:35 Section: Daily DispatchesBy Nelson Banya and Aby Jose Koilparambil
Reuters
Tuesday, September 10, 2024
AngloGold Ashanti is now in a position to pursue growth through the acquisition of high-value assets, CEO Alberto Calderon said today, after the miner agreed to buy Egypt-focused smaller rival Centamin in a $2.5 billion stock and cash deal.
Shares in Centamin jumped over 20% to their highest level since October 2020, while those of its London-listed peer Hochschild rose over 2.5%. New York-listed AngloGold's were down 8%.
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Cryptocurrency Tether enables a parallel economy that operates beyond U.S. law enforcement
Submitted by admin on Tue, 2024-09-10 10:37 Section: Daily DispatchesBy Angus Berwick and Ben Foldy
The Wall Street Journal
Tuesday, September 10, 2024
A giant unregulated currency is undermining America's fight against arms dealers, sanctions busters and scammers. Almost as much money flowed through its network last year as through Visa cards. And it has recently minted more profit than BlackRock, with a tiny fraction of the workforce.
Its name: tether. The cryptocurrency has grown into an important cog in the global financial system, with as much as $190 billion changing hands daily.
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Joshua D. Glawson: How America's money devolved from gold and silver to fiat
Submitted by admin on Mon, 2024-09-09 21:45 Section: Daily DispatchesBy Joshua D. Glawson
Money Metals Exchange, Eagle, Idaho
Monday, September 9, 2024
Imagine a street performer standing behind a small table, moving three shells around at lightning speed, concealing a pea beneath one of them. As the audience watches closely, they try to follow the pea's location, only to realize that no matter how well they track it, they've been fooled.
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Weekend edition of Steer's Gold and Silver Digest posted in the clear at SilverSeek
Submitted by admin on Mon, 2024-09-09 18:33 Section: Daily Dispatches6:30p ET Monday, September 9, 2024
Dear Friend of GATA and Gold:
The weekend edition of GATA board member Ed Steer's Gold and Silver Digest letter is headlined "A Very Encouraging CoT Report, But. ..." and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
Link to gold planned in BRICS trade settlement system
Submitted by admin on Mon, 2024-09-09 14:20 Section: Daily DispatchesBRICS Countries May Present Instruments for Trade Settlements at Summit in Kazan
From Tass, Moscow
Friday, September 6, 2024
https://tass.com/economy/1839865
MOSCOW -- The BRICS countries are developing a wide range of instruments for creating an inclusive international financial system, and some of them may be announced this autumn at the summit in Kazan, Andrey Mikhailishin, the head of the task force on financial services of the BRICS Business Council, told TASS.
Alasdair Macleod: Russia steps up gold purchases
Submitted by admin on Mon, 2024-09-09 11:05 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Friday, September 6, 2024
While the resilience of gold and silver prices puzzles Western capital markets, the Asian hegemons take a different view, continuing to dump fiat for gold. Now Russia is investing her surplus oil revenue.
While gold and silver are yet to break into new high ground, the resilience of gold this week has been remarkable for its firm undertone, just under its all-time high. And silver is showing signs of bottoming out after a decent correction.
China is ready with 40,000 tonnes of gold for new trading system, Maguire says
Submitted by admin on Sat, 2024-09-07 21:19 Section: Daily Dispatches9:17p ET Saturday, September 7, 2024
Dear Friend of GATA and Gold:
U.S. Secretary of State Antony Blinken probably discussed China's involvement in the de-dollarization movement during his recent visit to that country, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
China, Maguire says, may have as much as 40,000 tonnes of gold is its "shadow" banking system, ready for use in the gold-linked international trade currency being prepared by the BRICS nations and Russia.
Reuters still thinks China's not reporting gold purchases is the same as not purchasing
Submitted by admin on Sat, 2024-09-07 14:30 Section: Daily DispatchesChina's Central Bank Pauses Gold Purchases for a Fourth Month in August
By Polina Devitt, Qiaoyi Li, and Ryan Woo
Reuters
Saturday, September 7 2024
China's central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed on Saturday.
China's gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves, however, rose to $182.98 billion compared with $176.64 billion at the end of July.
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Interviewed by Money Metals, GATA secretary explains central banking's hostility to gold
Submitted by admin on Sat, 2024-09-07 00:23 Section: Daily Dispatches12:23a Saturday, September 7, 2024
Dear Friend of GATA and Gold:
Your secretary/treasurer was interviewed this week by Mike Maharrey of Money Metals, explaining the longstanding hostility of central banks to gold and their aggression against the monetary metal, a powerful competitor to their own currencies. GATA's work is also discussed, along with gold's hastening progress toward restoration as the world reserve currency.
The interview is 35 minutes long, follows the Money Metals weekly market review, and can be heard or read in transcript form here:
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