Daily Dispatches

11:08p ET Thursday, November 16, 2023

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler today questions whether there is double-counting in major silver inventories as there long has been with gold reserves at central banks that lease their reserves.

Butler writes: "The issue revolves around the 103 million ounces listed as being held for the I-Shares silver trust (SLV) by the trust's custodian, JPMorgan, in New York and the 134 million ounces held in the JPMorgan Comex warehouse. 

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4:31p ET Wednesday, November 15, 2023

Dear Friend of GATA and Gold:

You missed a lot if you didn't attend the New Orleans Investment Conference this month -- a great city renovating itself, wonderful restaurants, refreshing weather, people who make hospitality a way of life, and, of course, financial commentary from some great minds. (Oh, well, GATA's too.)

By Malaika Kanaaneh Tapper and Eddie Spence
Bloomberg News
Wednesday, November 15, 2023

Shut out of London following the invasion of Ukraine, Russian gold trading switched to Dubai. Now it's shifting again, to the bullion hub of Hong Kong.

The city has long been a key conduit for bullion entering the Chinese mainland -- the world's biggest consumer market -- but since April, Russian shipments surged. Hong Kong imported 68 tons of Russian gold this year, four times as much as the whole of 2022.

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7:08p ET Sunday, November 12, 2023

Dear Friend of GATA and Gold:

Your secretary/treasurer, interviewed during the recent New Orleans Investment Conference by Kai Hoffman of Soar Financial Group, discussed the recent decline in the gold swaps undertaken by the Bank for International Settlements, activity that signifies market intervention by central banks. This decline, your secretary/treasurer said, may hint that central banks are preparing for a higher gold price.

But your secretary/treasurer adds that central bank gold reserve data can't be trusted.