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Daily Dispatches
GoldSeek Radio's Waltzek and GATA's Murphy review gold's volatility
Submitted by admin on Wed, 2023-12-20 19:22 Section: Daily Dispatches7:20p ET Wednesday, December 20, 2023
Dear Friend of GATA and Gold:
GoldSeek Radio's Chris Waltzek interviews GATA Chairman Bill Murphy about the increasing volatility -- and seemingly upside pressure -- in gold. The interview is not quite 12 minutes long and can be heard at GoldSeek here:
https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-gold-market-volatility
LME plans new metals contracts using Shanghai prices, sources tell Reuters
Submitted by admin on Tue, 2023-12-19 08:56 Section: Daily DispatchesBy Pratima Desai and Siyi Liu
Reuters
Monday, December 18, 2023
The London Metal Exchange is planning to launch new metals contracts using prices from the Shanghai Futures Exchange, three industry sources familiar with the matter said, increasing China's influence on global metals markets.
Collaboration between the 146-year-old LME and ShFE was mentioned briefly by LME's Chief Executive Matthew Chamberlain in October at the annual LME Week dinner, without any detail.
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Dow Jones is still far from record when priced in gold, Peter Schiff says
Submitted by admin on Mon, 2023-12-18 20:39 Section: Daily DispatchesFrom Schiff Gold, White Plains, New York
Monday, December 18, 2023
The Dow Jones index hit record highs last week. But when you price the index in real money -- gold -- it remains far below record levels.
Last week the Dow closed above 37,000 for the first time. On Friday it set a record of 37,305. But during his podcast, Peter Schiff put that record into context.
Asia's central banks snap up gold in 'new normal' to reduce risk from U.S. dollar
Submitted by admin on Mon, 2023-12-18 13:27 Section: Daily DispatchesBy Biman Mukherji
South China Morning Post, Hong Kong
Monday, December 18, 2023
Gold's lustre has endured timelessly for Asian buyers, and its central banks too are now following suit to snap up the commodity amid de-dollarisation -- a move to reduce exposure risk to the U.S. dollar.
Fears about their assets being vulnerable, following the U.S. seizure of Russia's foreign exchange reserves of US$650 billion in February last year, have triggered a buying wave by central banks, said a Sprott Asset Management report this month.
Weekend edition of Ed Steer's Gold and Silver Digest posted at SilverSeek
Submitted by admin on Sun, 2023-12-17 18:22 Section: Daily Dispatches6:20p ET Sunday, December 17, 2023
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Huge Physical In/Out Movements in Gold and Silver" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
Elliott gets permission to appeal loss to LME in nickel case
Submitted by admin on Sun, 2023-12-17 10:15 Section: Daily DispatchesBy Pei Li
Bloomberg News
Sunday, December 17, 2023
Hedge fund Elliott Associates was granted permission to appeal its loss in court against the London Metal Exchange over a nickel squeeze, extending the legal battle over the latter's decision last year to cancel billions of dollars worth of trades.
Elliott applied to the English Court of Appeal and was granted permission to appeal the judgment that went in the LME’s favor last month, according to a filing from Hong Kong Exchanges and Clearing Ltd., the parent company of London Metal Exchange.
Ronan Manly: Surging industrial demand for silver will increase 'structural deficit'
Submitted by admin on Sat, 2023-12-16 21:08 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Saturday, December 16, 2023
There has been a significant imbalance in the physical silver market for the last three years with annual silver demand exceeding annual silver supply.
This is a problem, since when silver demand is greater than silver supply, the extra demand (deficit) must be met by eating into the world's finite and limited above-ground silver stockpiles.
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Last Sunday's spike in gold probably was an Eastern warning shot, Maguire says
Submitted by admin on Fri, 2023-12-15 14:03 Section: Daily Dispatches2p ET Friday, December 15, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells Kinesis Money's "Live from the Vault" program that last Sunday night's explosion in the gold price was probably an Eastern-based "warning shot" against the U.S. dollar and U.S. Treasuries, prompting emergency intervention against gold by the U.S. "plunge protection team" to deflect the attack.
The program is 47 minutes long and can be seen at YouTube here:
Rep. Mooney asks about repatriation of foreign gold from New York Fed
Submitted by admin on Thu, 2023-12-14 15:36 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, December 14, 2023
WASHINGTON -- As central banks across the globe continue to scoop up gold bullion for their reserves at record rates, U.S. Rep. Alex Mooney, R-West Virginia, is asking Federal Reserve Chairman Jerome Powell some pressing questions about gold.
Gold currently trades at all-time highs in most currencies. Market insiders claim that Germany's Bundesbank is again seeking to repatriate some of its gold vaulted with the Federal Reserve Bank of New York.
Alasdair Macleod: Underestimating debt traps
Submitted by admin on Thu, 2023-12-14 13:19 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, December 14, 2023
The sharp decline in U.S. Treasury bond yields anticipates a pivot in Federal Reserve policy, which appeared to be justified this week by Chairman Powell's dovish tone. But the Fed is not in control of events.
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