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Daily Dispatches
One big gold seller among central banks has even more to offload
Submitted by admin on Mon, 2023-07-31 18:46 Section: Daily DispatchesBy Nariman Gizitdinov
Bloomberg News
Sunday, July 30, 2023
In a turnaround that has already taken it from one of the biggest gold buyers to a top seller this year, Kazakhstan's central bank is looking to cut the metal's share to as low as half of its $34.5 billion reserves.
BIS inadvertently confirms accuracy of GATA's penetration of gold swap data
Submitted by admin on Mon, 2023-07-31 00:01 Section: Daily Dispatches11:58p ET Sunday, July 30, 2023
Dear Friend of GATA and Gold:
GATA's consultant about the Bank for International Settlements, Robert Lambourne, was too modest to make a big deal of it tonight in his update about the bank's intervention in the gold market via gold swaps --
https://www.gata.org/node/22751
-- but the bank's annual report inadvertently has confirmed the longstanding accuracy of his analysis.
... Dispatch continues below ...
Robert Lambourne: BIS reduced gold swaps by more than half in June
Submitted by admin on Sun, 2023-07-30 23:17 Section: Daily DispatchesBy Robert Lambourne
Sunday, July 30, 2023
Volatility continues in the level of gold swaps undertaken by the Bank for International Settlements, the central bank of the central banks.
After increasing 39% in May, BIS gold swaps fell 54% in June, according to the bank's June 30 statement of account, published this week:
Oregon governor signs bill ending unjust corporate activity tax on precious metals dealers and investors
Submitted by admin on Sat, 2023-07-29 14:35 Section: Daily DispatchesBy JP Corez
Money Metals News Service, Eagle, Idaho
Friday, July 28, 2023
With the stroke of her pen, Oregon Gov. Tina Kotek has put an end to the state's punitive corporate activity tax as applied to precious metals dealers and, ultimately, to gold and silver investors, effective in 2024.
Pakistan exchange aspires to physical gold trading, legal importing
Submitted by admin on Sat, 2023-07-29 14:19 Section: Daily DispatchesBy Kazim Alam
Dawn, Karachi, Pakistan
Saturday, July 29, 2023
https://www.dawn.com/news/1767430
KARACHI, Pakistan -- The Pakistan Mercantile Exchange (PMEX) is planning to introduce the trading of physical gold on its platform in a nationwide bid to "document" and "regularise" the selling and buying of the precious metal at the retail level.
China's push to expand BRICS is opposed by India and Brazil
Submitted by admin on Fri, 2023-07-28 14:04 Section: Daily DispatchesBy Sudhi Ranjan Sen, S'thembile Cele, and Simone Preissler Iglesias
Bloomberg News
Thursday, July 27, 2023
India and Brazil are pushing back against a Chinese bid to rapidly expand the BRICS group of emerging markets to grow its political clout and counter the United States, officials with knowledge of the matter said.
The countries have raised objections in preparatory talks for a summit in Johannesburg next month where Brazil, Russia, India, China, and South Africa will discuss potentially expanding the group to include Indonesia and Saudi Arabia.
John Kim: What generation is curbstomping gold and silver prices the most?
Submitted by admin on Fri, 2023-07-28 13:54 Section: Daily Dispatches1:50p ET Friday, July 28, 2023
Dear Friend of GATA and Gold (and Silver):
Market analyst John Kim of SK Wealth Academy today reminds investors, especially credulous young ones, that gold and silver exchange-traded funds do not represent their ownership of real metal but instead facilitate metal price suppression via derivatives trading by big banks.
Kim's analysis is headlined "What Generation is Curbstomping Gold and Silver Prices the Most?" and it's posted at the SK Wealth Academy site here:
Bolivia to use China's yuan in challenge to dollar
Submitted by admin on Fri, 2023-07-28 13:35 Section: Daily DispatchesBy Carlos Valdez and Daniel Politi
Associated Press
Thursday, July 27, 2023
LA PAZ, Bolivia -- Bolivia is now using the yuan to pay for imports and exports, becoming the latest country in South America to regularly use the Chinese currency in a small but growing challenge to the hegemony of the U.S. dollar for international financial transactions in the region.
Kinesis joins Valaurum to put practical amounts of gold in circulation
Submitted by admin on Thu, 2023-07-27 13:24 Section: Daily DispatchesKinesis to Produce Physical Gold Bills in Partnership with Valaurum
By Sean Dickens
Kinesis, London
Thursday, July 27, 2023
Kinesis has established a global collaborative partnership with Valaurum, the manufacturer of the patented Aurum gold bill, to produce a series of Kinesis gold bills containing small, practical amounts of physical gold for investment and global spending.
Alasdair Macleod: Inflation will return
Submitted by admin on Thu, 2023-07-27 13:15 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, July 27, 2023
It is an error to expect inflation to continue to fall in America. All financial market values in the United States and elsewhere are predicated on this hope.
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