Daily Dispatches

1:23p ET Friday, July 12, 2024

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire uses this week's "Live from the Vault" program from Kinesis Money to describe how he sees China using derivatives on the Shanghai Futures Exchange to extract gold from Western markets and hedge itself against what it expects will be more U.S. economic sanctions under a Trump administration.

9:18p ET Wednesday, July 10, 2024

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed today by GoldSeek Radio's Chris Waltzek, discusses silver's resistance to the seemingly endless campaign of central banks and bullion banks to keep its price below $30 per ounce.

The discussion is 10 minutes long and can be heard at GoldSeek here:

https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-silvers-bullish-surge

By Nduka Orjinmo
Bloomberg News
Tuesday, July 9, 2024

Nigerian lawmakers are proposing a dramatic increase in the central bank's power to use gold to shore up the nation's reserves in defense of the economy.

A draft bill before the Senate puts forward a raft of policies that would enshrine the bank as the automatic off-taker for all the gold produced in the country, alongside a goal to make the precious metal at least 30% of Nigeria's external reserves.

... Dispatch continues below ...

5:44p ET Monday, July 8, 2024

Dear Friend of GATA and Gold:

Gold researcher Jan Nieuwenhuijs today provides a primer about the gold lending business -- swaps, leases, and forwards. It explains how bullion banks can make money in the business, but not so much why central banks sometimes assist the business by putting their metal in play. That's GATA's job.

Nieuwenhuijs' analysis is headlined "Swaps, Leases, and Forwards -- A Deep Dive into the Gold Wholesale Market" and it's posted at the Gainesville Coins internet site here: