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Daily Dispatches
China raises banks' FX requirements to rein in yuan
Submitted by admin on Mon, 2021-05-31 12:08 Section: Daily DispatchesFrom Reuters
Sunday, May 30, 2021
SHANGHAI -- China's central bank has directed financial institutions to hold more foreign exchange in reserve, a move that analysts say could help temper a rally in the yuan after the currency hit a three-year high against the dollar on Monday.
The People's Bank of China said it will raise the FX reserve requirement ratio for financial institutions to 7% from 5%, from June 15. The increase will make it more expensive for banks to hold dollars.
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Maybe an anti-U.S. and anti-dollar faction is running the BIS now
Submitted by admin on Sun, 2021-05-30 23:28 Section: Daily Dispatches11:43p ET Sunday, May 30, 2021
Dear Friend of GATA and Gold:
Among the many analytical reports arguing that economic fundamentals are such that the gold price should rise sharply, the annual "In Gold We Trust" reports by Incrementum AG in Liechtenstein always have provided the most supporting documentation. The one published last week is no exception:
U.S. Mint postpones coin order acceptance, admits silver shortage
Submitted by admin on Fri, 2021-05-28 22:47 Section: Daily DispatchesFrom the United States Mint, Washington, D.C.
via Facebook.com
Friday, May 28, 2021
https://www.facebook.com/UnitedStatesMint/photos/a.331791684458/10159719548979459
The United States Mint is committed to providing the best possible online experience to its customers.
Dave Kranzler: Money supply growth + inflation = cheap gold, silver, and mining stocks
Submitted by admin on Fri, 2021-05-28 12:23 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Friday, May 28, 2021
"April 2021 money supply and monetary base growth continued to explode."
-- John Williams, Shadowstats.com
Williams is referencing the "base" monetary aggregates, which are compiled monthly. The Fed's balance sheet grows by the week, hitting $7.922 trillion as of May 19. It has doubled plus another 13% since September 2019, when "QE" was restarted.
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The end times draw near: Bloomberg cites BIS gold trading and seeks comment
Submitted by admin on Thu, 2021-05-27 22:33 Section: Daily DispatchesGold at BOE Commands High Premium, Signaling Central Bank Buying
Yvonne Yue Li and Jack Farchy
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, May 27, 2021
https://finance.yahoo.com/news/gold-boe-commands-high-premium-194455336.html
Gold stored at the Bank of England has been selling for unusually high premiums recently, signaling that central banks may be back in the market buying.
Half a trillion dollars is sitting at the Fed earning nothing
Submitted by admin on Thu, 2021-05-27 21:02 Section: Daily DispatchesBy Benjamin Purvis and Alex Harris
Bloomberg News
Thursday, May 27, 2021
There's so much spare cash sloshing around U.S. funding markets that investors are choosing to park almost half a trillion dollars at the central bank -- earning absolutely nothing.
Matthew Piepenburg: Comex is rigged against gold but reset won't be
Submitted by admin on Thu, 2021-05-27 17:10 Section: Daily Dispatches5:08p ET Thursday, May 27, 2021
Dear Friend of GATA and Gold:
At King World News, Matthew Piepenburg of Matterhorn Asset Management in Switzerland writes that the Comex gold market is rigged for price suppression but that gold will be part of the international currency reset just ahead.
Piepenburg's essay is headlined "Yes, the Comex Is Rigged to Keep the Price of Gold Artificially Low. I Know. I Was There" and it's posted at KWN here:
Bolivia's central bank will buy domestically mined gold
Submitted by admin on Thu, 2021-05-27 16:56 Section: Daily DispatchesA rich country perhaps insisting a little less on being poor.
* * *
By Ben Margulies
Central Banking, London
Thursday, May 27, 2021
The Bolivian state mining company Comibol announced the country's central bank had signed a three-year contract on May 19 to purchase gold from it.
Crypto vs. gold debate rages on Wall Street as flows reverse
Submitted by admin on Thu, 2021-05-27 16:37 Section: Daily DispatchesBy Lynn Thomasson and Cecile Gutscher
Bloomberg News
Thursday, May 27, 2021
Gold is back with a vengeance this month just as the crypto rally falls apart, refueling the Wall Street debate over the link between the two putative hedging assets.
Bullion funds have seen the biggest two weeks of inflows since October and prices are edging closer to $1,900 an ounce.
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Alasdair Macleod: Suffering a sea change
Submitted by admin on Thu, 2021-05-27 12:26 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, May 27, 2021
There is an established theoretical relationship between bonds and equities tha provides a framework for the future performance of financial assets. It would be a mistake to ignore it, ahead of the forthcoming rise in global interest rates.
Price inflation is roaring, and so far central banks are in denial. But it is increasingly difficult to see how monetary policy planners can extend the suppression of interest rates much longer. There can be only one outcome.
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