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Daily Dispatches
Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms
Submitted by admin on Mon, 2022-12-19 06:58 Section: Daily DispatchesBy Lewis Jackson
Reuters
via WTVB-1590AM
Sunday, December 18, 2022
SYDNEY -- Australia's A$200 billion ($134.28 billion) sovereign wealth fund is increasing exposure to gold, commodities, private equity, and infrastructure as it warns the future will echo the low-growth, high-inflation era of the 1970s.
Record central bank gold rush has been triggered by fears of Western sanctions
Submitted by admin on Sun, 2022-12-18 15:54 Section: Daily DispatchesBy Tom Rees
The Telegraph, London
Sunday, December 18, 2022
A record central bank gold rush has been triggered by fears of Western sanctions after Russia was made a pariah state in the wake of its invasion of Ukraine, according to the World Gold Council.
Officials in many countries outside the West are rethinking their foreign currency reserves after the sanctions meant Russia’s central bank lost the use of its war chest, hampering its ability to protect the ruble and its banking system.
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November spike in BIS gold swaps was an emergency intervention, Maguire says
Submitted by admin on Fri, 2022-12-16 20:38 Section: Daily Dispatches8:30p ET Friday, December 16, 2022
Dear Friend of GATA and Gold:
Speaking on Kinesis Money's "Live from the Vault" program this week, London bullion trader Andrew Maguire says the Bank for International Settlements' nearly 100-tonne increase in its gold swap position in November --
-- likely was part of an emergency intervention to contain the monetary metal's sharply rising price.
Goldman Sachs prepares to lay off almost 4,000 employees
Submitted by admin on Fri, 2022-12-16 19:45 Section: Daily DispatchesBy Brooke Masters and Stephen Morris
Financial Times, London
Friday, December 16, 2022
Goldman Sachs is preparing to lay off as many as 3,900 employees starting in January as chief executive David Solomon seeks to boost the bank's profitability amid economic headwinds.
The plans are still being drawn up, and it is possible that the current target for a cull of "up to 8%" of its 49,000 global workforce will be slimmed down if the business outlook improves, according to three people familiar with the discussions.
... Dispatch continues below ...
India's government keeps getting more favorable toward gold as money
Submitted by admin on Thu, 2022-12-15 17:36 Section: Daily DispatchesIndia to Invite Bids for Extracting Gold from Dumps at Colonial-Era Mines
By Neha Arora and Mayank Bhardwaj
Reuters
Thursday, December 15, 2022
NEW DELHI -- India plans to invite bids to extract gold from 50 million tonnes of processed ore in a cluster of colonial-era mines in the southern state of Karnataka, a senior government official with direct knowledge of the matter said today.
The Kolar fields, located about 65 kilometres (40 miles) northeast of India's technology hub of Bengaluru, are among the country's oldest gold mines.
Alasdair Macleod: Rising rates lead to financial accidents
Submitted by admin on Thu, 2022-12-15 11:53 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, December 15, 2022
A recent Bank for International Settlements paper warning of unappreciated risks in foreign exchange markets echoes my earlier warning in an article for Goldmoney published over a month ago describing derivative risks in FX markets.
Inflation, uncertainty fuel new gold rush at ancient Austrian Mint
Submitted by admin on Wed, 2022-12-14 19:33 Section: Daily DispatchesBy Francois Murphy
Reuters
Wednesday, December 14, 2022
VIENNA, Austria -- The Austrian Mint, one of the world's oldest and biggest producers of gold bullion coins, is unable to keep up with demand as people rush to find a safe haven for their money amid surging inflation and economic fears caused by war in Ukraine.
Craig Hemke at Sprott Money: Same song, third verse
Submitted by admin on Wed, 2022-12-14 11:38 Section: Daily Dispatches11:35a ET Wednesday, December 14, 2022
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing today at Sprott Money, begins to outline his gold forecast for the new year, and he thinks gold's performance will be like its performance in 2019 and 2010 -- something gold owners probably won't complain about. Hemke's analysis is headlined "Some Song, Third Verse" and it's posted at Sprott Money here:
GoldSeek Radio's Waltzek interviews GATA Chairman Murphy as metals rise
Submitted by admin on Tue, 2022-12-13 11:28 Section: Daily Dispatches11:25a ET Tuesday, December 13, 2022
Dear Friend of GATA and Gold:
GoldSeek Radio's Chris Waltzek today interviews GATA Chairman Bill Murphy, who explains why he sees the monetary metals sector turning upward and cryptocurrency investors gaining interest in the metals. The interview is 11 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/goldseek-radio-nugget-bill-murphy-and-away-gold-and-silver
Kranzler and Lundin see gold breaking its chains
Submitted by admin on Mon, 2022-12-12 17:41 Section: Daily Dispatches5:40p ET Monday, December 12, 2022
Dear Friend of GATA and Gold:
While today has not been a great day for gold, Dave Kranzler of Investment Research Dynamics in Denver and Brien Lundin, editor of Gold Newsletter and the Golden Opportunities letters, see the monetary metal starting to rise as other assets fall.
Kranzler's analysis is headlined "The Precious Metals Sector May Have Started a Sustainable Bull Cycle" and it's posted here:
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