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Daily Dispatches
Qatar boosts gold reserves as FIFA World Cup nears
Submitted by admin on Sat, 2022-10-01 23:38 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Saturday, October 1, 2022
With many eyes across the world soon turning towards the Gulf State of Qatar as it hosts the 2022 FIFA World Cup later this year, now is a good time to look at another interesting development in the Qatari rmirate -- the recent rapid growth of Qatar's monetary gold reserves.
In August the Qatar central bank raised a few eyebrows when it announced that during July it had purchased about 14.8 tonnes of gold, thereby bringing the country's official gold reserves to 72.3 tonnes.
Turkish central bank is top gold buyer among central banks this year
Submitted by admin on Sat, 2022-10-01 09:10 Section: Daily DispatchesFrom the Daily Sabah, Istanbul
Friday, September 30, 2022
The Turkish central bank has been the top gold buyer among its global peers so far this year, according to data from the World Gold Council.
The Central Bank of the Republic of Türkiye bought around 9 tons of gold in August, the council said Thursday, increasing its total purchases to 84 tons year-to-date,
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London gold dealer runs out of bullion as Truss budget shocks
Submitted by admin on Sat, 2022-10-01 09:01 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Saturday, October 1, 2022
When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that has recently lost its luster: gold.
As the UK currency slid to an all-time low early Monday, bullion priced in pounds climbed close to a record. That would typically encourage selling and deter buyers, but this time round the turmoil in British bond and currency markets increased the allure of the precious metal.
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Eurasia will lead the world back to gold, Macleod tells Maguire
Submitted by admin on Fri, 2022-09-30 21:23 Section: Daily Dispatches9:25p ET Friday, September 30, 2022
Dear Friend of GATA and Gold:
Discussing world financial affairs with London monetary metals trader Andrew Maguire on Kinesis Money's "Live from the Vault" program, GoldMoney research director Alasdair Macleod says a new world payment system is likely to arise from the Eurasian powers and that it will draw heavily on gold.
Additionally, Macleod notes the steady devaluation of many major currencies and says the entire fiat currency system well may collapse.
Frank Holmes: Gold has been a great store of value amid the 'everything selloff'
Submitted by admin on Thu, 2022-09-29 21:55 Section: Daily DispatchesBy Frank Holmes
U.S. Global Investors, San Antonio, Texas
Wednesday, September 28, 2022
"Gold is no longer a safe haven."
"Gold isn't an effective hedge against inflation."
"Gold is dead."
Ted Butler: The monetary metals bear trap: Is it finally set?
Submitted by admin on Thu, 2022-09-29 20:05 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Thursday, September 29, 2022
What has been occurring in the gold and silver markets is nothing short of extraordinary. In the face of all objective and measurable conditions in the physical markets pointing to higher prices, instead prices have collapsed over the past six months by amounts comparable to the sharpest selloffs in history. From the price top of March 8, gold has fallen as much as $450 (22%), while silver has fallen by as much as $10 (36%) in recent dealings.
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The UK's crisis of confidence was years in the making
Submitted by admin on Thu, 2022-09-29 11:24 Section: Daily DispatchesBy Philip Aldrick, Libby Cherry, and David Goodman
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, September 29, 2022
Britain is in a self-inflicted financial crisis, years in the making, that threatens to accelerate the economy’s dive into recession — and the country’s new prime minister is coming under intense pressure to blink.
China's state banks told to stock up for yuan intervention
Submitted by admin on Thu, 2022-09-29 11:02 Section: Daily DispatchesBy Julie Zhu
Reuters
Thursday, September 29, 2022
HONG KONG -- China's central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan's descent, four sources with knowledge of the matter said.
State banks were told to ask their offshore branches, including those based in Hong Kong, New York and London, to review their holdings of the offshore yuan and ensure U.S. dollar reserves are ready to be deployed, three of the sources, who declined to be identified, told Reuters.
Alasdair Macleod: Kwarteng and a job half done
Submitted by admin on Thu, 2022-09-29 10:53 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, September 29, 2022
Following the new Kwarteng/Truss economic policies revealed in last week’s mini budget for the United Kingdom, the widespread condemnation is a reflex Keynesian response from a world that has become hostage to erroneous economic and monetary groupthink in its major institutions.
Lawrie Williams: Gold fulfills expectations in the U.K. and elsewhere if not the U.S.
Submitted by admin on Wed, 2022-09-28 13:52 Section: Daily DispatchesBy Lawrie Williams
SharpsPixley.com, London
Tuesday, September 27, 2022
If one reads all the headlines about gold, one could be forgiven for thinking that 2022 has been a pretty disastrous year for those banking on the yellow metal to preserve their wealth.
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