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Daily Dispatches

Alasdair Macleod: The future for fiat

Section: Daily Dispatches

By Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, November 2, 2023

Gold market manipulation update: The battle may be going gold's way

Section: Daily Dispatches

Illustrations for this presentation are posted here:

https://gata.org/sites/default/files/Powell_NOLA%20OctNov%202023%20v5%20%282%29.pdf

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ILLUSTRATION 1

Gold Market Manipulation Update

Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
New Orleans Investment Conference
Hilton Riverside Hotel, New Orleans
Wednesday, November 1, 2023

China launches stock indices to tap into rush for safe-haven gold

Section: Daily Dispatches

By Jason Xue, Samuel Shen, Summer Zhe
Reuters
Wednesday, November 1, 2023

SHANGHAI -- China's biggest index provider today launched two gold-linked stock indices to cash in on surging demand for exposure to the safe-haven metal amid a slump in the local real estate market and volatile global markets.

The new indexe, launched by the China Securities Index Co, include shares of global gold miners such as Newmont and Barrick Gold.

Robert Lambourne: BIS gold swaps fell in September as bank's substantial trading continued

Section: Daily Dispatches

By Robert Lambourne
Wednesday, November 1, 2023

Active trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in September.

From information in the BIS statement of account for the month,  published this week —

Central bank gold binge is even bigger than had been thought

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
via Yahoo News, Sunnyvale, California
Tuesday,  October 31, 2023

Central banks have loaded up on more gold than previously thought this year, offering crucial support to prices that have faced pressure from global monetary tightening.Countries expanded bullion reserves by 337 tons in the three months through September, the World Gold Council said in a report today. That follows an increase of 175 tons in the second quarter, which was bigger than the council’s previous estimate of 103 tons.

China leads record central bank gold buying in first nine months of year

Section: Daily Dispatches

By Harry Dempsey
Financial Times, London
Tuesday, October 31, 2023

China has spearheaded record levels of central bank purchases of gold globally in the first nine months of the year, as countries seek to hedge against inflation and reduce their reliance on the dollar.

Central banks have bought 800 tonnes in the first nine months of the year, up 14% year-on-year, according to a report by the World Gold Council, an industry group.

LFTV: Only gold revaluation might vanquish the debt monster

Section: Daily Dispatches

4:37p ET Saturday, October 28, 2023

Dear Friend of GATA and Gold:

Dave Kranzler of Investment Research Dynamics in Denver is the guest on this week's episode of Kinesis Money's "Live from the Vault" program with host Shane Morand and London metals trader Andrew Maguire, discussing, among other things, the Western debt monster and the impossibility of servicing it, except maybe with gold revaulation, which Maguire is convinced is coming.

The program is an hour long and can be viewed at YouTube here:

Ambrose Evans-Pritchard: Rising wave of property defaults threatens hundreds of U.S. banks

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, October 27, 2023

America's commercial property collapse is becoming a danger to the financial system.

Office blocks purchased with debt remain half empty, 18 months after the end of the pandemic. Thousands of buildings will have to be torn down. Hundreds of regional banks are sitting on crippling losses that they yet to acknowledge.

"It's a train wreck in slow motion," said Professor Stijn Van Nieuwerburgh, a property and finance expert at Columbia University.

Top gold refiner exits Swiss industry group amid sourcing dispute

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
Friday, October 27, 2023

Valcambi SA has resigned from the Swiss gold refining association after a disagreement over where it sources its gold.

Ticino-based Valcambi left the Swiss Association of Precious Metal Manufacturers and Traders, which coordinates communication and lobbying on behalf of the industry and requires members to sign a code of conduct, due to "irreconcilable differences," the association said in a statement.

... Dispatch continues below ...

Gold is outperforming stocks for the year as its war rally continues

Section: Daily Dispatches

By Joseph Adinolfi
MarketWatch, New York
Friday, October 27, 2023

It's official: Gold is outperforming the S&P 500 stock index in 2023 due to an October rally that has brought the price of an ounce of the yellow metal to the cusp of the $2,000 mark, a level it hasn't seen since May.

Metals traders attributed gold's gains to a surge in demand for hedges and safety plays following Hamas' Oct. 7 attack on Israel, which provoked a war between Israel and the group that is deemed a terrorist organization by the U.S. and European Union.

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