You are here
Daily Dispatches
Costco is estimated to be selling as much as $200 million in gold bars monthly
Submitted by admin on Tue, 2024-04-09 14:50 Section: Daily DispatchesBy Jeff Cox
CNBC, New York
Tuesday, April 9, 2024
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.
In fact, sales are so brisk that analysts at Wells Fargo expect revenue "may now be running at" $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023.
... Dispatch continues below ...
... ADVERTISEMENT ...
India's February silver imports hit record and set to rise 66% this year
Submitted by admin on Tue, 2024-04-09 10:27 Section: Daily DispatchesFrom Reuters
via The Times of India, Mumbai
Monday, April 8, 2024
India's silver imports surged by 260% in February to a record high, as lower duties encouraged large purchases from the United Arab Emirates, government and industry officials told Reuters, adding they were on track to increase by 66% this year.
... Dispatch continues below ...
... ADVERTISEMENT ...
Guanajuato Silver Reports Best Ever Quarterly Production
Mike Maharrey: Why is the mainstream always disparaging gold?
Submitted by admin on Tue, 2024-04-09 10:12 Section: Daily DispatchesBy Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Monday, April 8, 2024
According to the mainstream, it's always time to sell gold.
Maybe listening to mainstream talking heads isn't the best strategy.
On March 8, CNBC's"Fast Money" featured TD Securities senior commodity strategist Daniel Ghali arguing that it was time to take profits on gold.
... Dispatch continues below ...
... ADVERTISEMENT ...
Idaho governor vetoes bill to enable state to hold protective gold and silver
Submitted by admin on Mon, 2024-04-08 20:15 Section: Daily DispatchesBy JP Cortez
Sound Money Defense League
via Money Metals Exchange, Eagle, Idaho
Monday, April 8, 2024
Idaho Gov. Brad Little today vetoed legislation that would have enabled the Idaho state treasurer to protect state reserve funds with an allocation to physical gold and silver, sending an ominous message to the state's mining industry and investors.
Senate Bill 1314 -- sponsored by Sen. Phil Hart and Rep. Barbara Ehardt -- passed overwhelmingly in the Idaho Senate before being approved by the House in late March, only to be vetoed by the governor.
Pam and Russ Martens: Fed loses billions while paying huge interest income to big banks
Submitted by admin on Mon, 2024-04-08 14:35 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street On Parade
Monday, April 8, 2024
As of April 3 the Federal Reserve has racked up $161 billion in accumulated losses.
We're not talking about unrealized losses on the underwater debt securities the Fed holds on its balance sheet, which it does not mark to market.
China's latest investment frenzy sparks wild swings in gold ETF
Submitted by admin on Mon, 2024-04-08 14:17 Section: Daily DispatchesBy Charlotte Yang
Bloomberg News
via Yahoo Finance, Sunnyvale, California
An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country's economic challenges.
Trading for the ChinaAMC Gold Industry Equity ETF was halted until 10:30 a.m. Monday local time, in order to protect investors' interests, China Asset Management Co. said in a statement today. It was the second trading suspension for the product since last Tuesday.
Maybe the sun isn't the only thing being eclipsed tomorrow
Submitted by admin on Sun, 2024-04-07 23:06 Section: Daily Dispatches11:12p ET Sunday, April 7, 2024
Dear Friend of GATA and Gold (and Silver):
Tonight's action in gold and silver is astounding. Both monetary metals opened down hard, as if somebody was trying to set a negative tone in the market for the day ahead after many days of strong advances.
Whereupon somebody pounced on the price smashes as if metal was a bargain at any price.
... Dispatch continues below ...
... ADVERTISEMENT ...
As gold smuggling runs rampant, Vietnam looks for ways to tame market
Submitted by admin on Sun, 2024-04-07 10:00 Section: Daily DispatchesBy Nguyen Dieu Tu Uyen
Bloomberg News
via South China Morning Post, Hong Kong
Sunday, April 7, 2024
Stabilising the gold market is a pressing issue for the Vietnamese government with smugglers taking advantage of higher local prices to slip in the precious metal, leading to exchange rate distortions and weakness in the dong that's hurting the economy.
... Dispatch continues below ...
... ADVERTISEMENT ...
OMG: Bloomberg columnist recommends gold
Submitted by admin on Sun, 2024-04-07 09:47 Section: Daily DispatchesCentral Banks Are the Newest HODLers of Gold
By Merryn Somerset Webb
Bloomberg News
Sunday, April 7, 2024
A few weeks ago, when the gold price hit a record high, no one besides a few gold bugs seemed to care.
Bitcoin also hit a record high. Everyone cared.
Proof came in the personal finance pages of the UK newspapers. The Financial Times had a piece on investing in crypto miners, a long read about what crypto still gets wrong, and a cry of pain for UK investors denied the right to hold Bitcoin exchange-traded funds.
Fed soon will have to drop gold suppression policy, Maguire tells LFTV
Submitted by admin on Sat, 2024-04-06 20:17 Section: Daily Dispatches8:18p ET Saturday, April 6, 2024
Dear Friend of GATA and Gold (and Silver):
London metals trader Andrew Maguire, commmenting on this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand, says central banks have huge bids for physical gold just below the current market price and will raise their bids if the price moves up.
... Dispatch continues below ...
... ADVERTISEMENT ...
Pages
