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Daily Dispatches
China's silver takeover may aim to drain the West
Submitted by admin on Mon, 2024-08-26 17:28 Section: Daily DispatchesBy Tim Zyla
Jerusalem Post
Wednesday, August 21, 2024
While the world has been focused on the geopolitical tensions between China and the West, a more subtle battle has been unfolding in the global financial markets.
China, through a series of calculated moves, has been quietly accumulating vast quantities of gold and silver. This move has signaled a potential shift in the global economic landscape and highlights the developing country's need for exorbitant amounts of resources.
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Peru's gold exports to India set to hit record high, official says
Submitted by admin on Sat, 2024-08-24 16:27 Section: Daily DispatchesBy Rajendra Jadhav and Sherin Elizabeth Varghese
Reuters
Friday, August 23, 2024
Peru's gold exports to India are set to jump 36% from a year ago to a record $3 billion in 2024, driven by rising demand from the world's second-biggest consumer, a senior government official said today.
India's gold imports from Peru in the first half of 2024 rose 81% from a year ago to $1.47 billion, Javier Manuel Paulinich Velarde, the Peruvian ambassador to India, told India Gold Conference.
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Central banks continue orderly buying of gold in anticipation of BRICs move, Maguire says
Submitted by admin on Fri, 2024-08-23 22:25 Section: Daily Dispatches10:24p ET Friday, August 23, 2024
Dear Friend of GATA and Gold:
Central banks continue to purchase gold in an orderly way, waiting for the occasional U.S. Federal Reserve-instigated price smashes to load up in anticipation of a formal remonetization of the monetary metal by the BRICs group in October, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
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'World's largest undeveloped gold project' hits milestone in northwest B.C
Submitted by admin on Wed, 2024-08-21 16:53 Section: Daily DispatchesBy Thom Barker
Ashcroft-Cache Creek Journal, Ashcroft, British Columbia, Canada
Wednesday, August 21, 2024
It has been a banner few weeks for Seabridge Gold lately in northwestern British Columbia.
In late July, the company announced the Environmental Assessment Office had designated its flagship KSM project as "substantially started," well in advance of its deadline.
As the rich snap up gold bars, storage vaults brace for business
Submitted by admin on Wed, 2024-08-21 12:12 Section: Daily DispatchesBy Sybilla Gross and Yvonne Yue Li
Bloomberg News
Tuesday, August 20, 2024
Encased in sleek onyx, an enormous vault for storing precious metal soars some 32 meters (105 feet) above Singapore's Changi Airport. For a facility that deals in secrecy and privacy, its sheer mass makes a loud statement about the sudden popularity of owning physical bullion.
James Turk: Is gold overvalued?
Submitted by admin on Tue, 2024-08-20 21:27 Section: Daily DispatchesBy James Turk
Free Gold Money Report
Tuesday, August 20, 2024
Gold may seem overvalued because of the recent record highs in its 6-decade ascent from $35 to $2500, but prices -- like appearances -- can be deceiving. What’s more, the value of any asset is more important than its price.
California-based Oxford Gold disappears with assets of hundreds of investors
Submitted by admin on Mon, 2024-08-19 18:49 Section: Daily DispatchesBy Jeff McDonald
San Diego Union-Tribune
Monday, August 19, 2024
With a fickle stock market and broader economic uncertainty around the globe, Howard and Heather Short were looking for a safe harbor for their savings and financial stability.
The San Diego couple settled on gold.
After months of hearing advertisements promoting the Oxford Gold Group on a local talk radio station, the Shorts began transferring chunks of their retirement portfolio to the Beverly Hills company.
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Gold bars are worth a million dollars for the first time
Submitted by admin on Mon, 2024-08-19 15:19 Section: Daily DispatchesBut what are a million dollars worth?
* * *
By Jack Wittels
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 18, 2024
For the first time ever, a bar of gold is worth a cool one million dollars.
The milestone was reached Friday, when the precious metal’s spot price surpassed $2,500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each one worth more than $1 million. ...
... For the remainder of the report:
Taiwan's central bank says gold reserve supports country's currency
Submitted by admin on Sun, 2024-08-18 09:50 Section: Daily DispatchesFrom the Central News Agency, Taipei
Friday, August 16, 2024
TAIPEI -- Taiwan has about 422 tonnes of gold in reserve, held by the Central Bank of the Republic of China (Taiwan) to support the value of the national currency, a central bank official said today.
Of that amount, 410 tonnes is retained as an asset for the issuance of New Taiwan Dollars, the official added.
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Miles Franklin's Andrew Schectman, on LFTV, reviews how the BIS is shifting the world back to gold
Submitted by admin on Fri, 2024-08-16 21:44 Section: Daily Dispatches9:42p ET Friday, August 16, 2024
Dear Friend of GATA and Gold:
Bullion dealer Andrew Schectman of Miles Franklin in Minnesota, the guest on this week's installment of Kinesis Money's "Live from the Vault" program with London metals trader Andrew Maguire, discusses the Bank for International Settlements' orchestration of a shift away from the U.S. dollar to gold as the primary world reserve currency.
The discussion is 67 minutes long and can be watched at YouTube here:
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