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Daily Dispatches
Ed Steer: A much better than expected COT report
Submitted by admin on Tue, 2023-08-15 21:00 Section: Daily Dispatches9p ET Tuesday, August 15, 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 "A Much Better Than Expected COT Report" and it's posted in the clear at SilverSeek here:
https://silverseek.com/article/much-better-expected-cot-report
Fitch warns it may have to downgrade dozens of banks, including JPM
Submitted by admin on Tue, 2023-08-15 13:57 Section: Daily DispatchesBy Hugh Son
CNBC, New York
Tuesday, August 15, 2023
A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence -- the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase.
The ratings agency cut its assessment of the industry's health in June, a move that analyst Chris Wolfe said went largely unnoticed because it didn't trigger downgrades on banks.
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China's gold prices believed to exceed rest of world's because of import curbs
Submitted by admin on Tue, 2023-08-15 09:15 Section: Daily DispatchesFrom Bloomberg News
via Yahoo News
Tuesday, August 15, 2023
China's gold price is rising against levels in London, a trend that local traders say is due to government curbs on imports of the precious metal.
The Shanghai spot price was more than $40 an ounce higher than that in London on Aug. 14, according to Bloomberg calculations based on exchange data. That's the biggest premium in more than five months, with the gap steadily widening from late June even as consumer demand in China remained sluggish.
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Brien Lundin: You may not know them but you need to listen to them
Submitted by admin on Mon, 2023-08-14 16:33 Section: Daily DispatchesGATA's Bill Murphy and Chris Powell will be among the speakers at the New Orleans Investment Conference.
* * *
By Brien Lundin
Publisher, Gold Newsletter
CEO, New Orleans Investment Conference
Monday, August 14, 2023
I'm excited.
Not by the metals and mining markets, mind you. They're still stuck in the mud.
In fact, gold is testing key support around the $1,900 level once again ... and in the process testing my theory that the metals bottomed in early July.
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Ronan Manly: Poland central bank perfectly understands gold's virtues
Submitted by admin on Sat, 2023-08-12 17:45 Section: Daily Dispatches5:45p ET Saturday, August 12, 2023
Dear Friend of GATA and Gold:
Bullion Star gold analysit Ronan Manly today elaborates on the steady enlargement of the Polish central bank's gold reserves, and his report may be most interesting for quoting the explanation given by the bank's president, Adam Glapinski.
Perfectly incisive as that endorsement is, Manly writes that it is nothing that could ever be written or uttered by U.S. Federal Reserve Chairman Jerome Powell.
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Robert Lambourne: BIS gold swaps rose 16 tonnes in July
Submitted by admin on Sat, 2023-08-12 13:41 Section: Daily DispatchesBy Robert Lambourne
Saturday, August 12, 2023
Active trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in July.
From information in the BIS' June 31 statement of account, published this week, it is estimated that the volume of gold swaps increased to 103 tonnes from the 87 tonnes estimated at June 30, a gain of 16 tonnes.
The July statement of account can be found here:
GoldSeek Radio's Waltzek interviews Bill Murphy and Peter Grandich
Submitted by admin on Thu, 2023-08-10 21:07 Section: Daily Dispatches9:12p ET Thursday, August 10, 2023
Dear Friend of GATA and Gold (and Silver):
GoldSeek Radio's Chris Waltzek interviewes GATA Chairman Bill Murphy about whether the monetary metals will ever reverse upward as the U.S. government's debt becomes ever-more stratospheric.
The interview is 10 minutes long and can be heard at GoldSeek here:
Alasdair Macleod: Beware the great unwind
Submitted by admin on Thu, 2023-08-10 12:10 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, August 10, 2023
The chart published with this essay strongly suggests that U.S. Treasury bond yields, widely regarded as the risk-free yardstick against which all other credit is measured, are going significantly higher, not stabilising close to current levels before going lower as commonly believed.
Turkey imposes extra charge on some gold imports
Submitted by admin on Tue, 2023-08-08 14:26 Section: Daily DispatchesBy Ezgi Erkoyun
Reuters
Tuesday, August 8, 2023
ISTANBUL -- Turkey has introduced a 20% additional charge for some gold imports, according to a decision published in the Official Gazette early today, in an effort to curb the negative impact on the current account balance.
Turkey said to plan gold import quota to protect FX balance
Submitted by admin on Mon, 2023-08-07 10:05 Section: Daily DispatchesFrom Reuters
Monday, August 7, 2023
ANKARA -- Turkey plans to impose a quota on imports of unprocessed gold in order to reduce the negative impact on the current account balance, according to a source familiar with the matter and state-owned Anadolu Agency.
Anadolu reported today that the Treasury had decided to introduce the quota in a bid to both relieve the deficit and boost foreign exchange reserves.
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