In uncertain times, gold jewellery offers financial security

Section: Daily Dispatches

When gold is remonetized, India may be the richest country in the world.

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By Yumna Iftikhar
The Globe and Mail, Toronto
Tuesday, May 28, 2024

As a child Adiba Ahmed didn't understand why her mother loved gold jewellery. But when her family came under financial stress and her mother sold the gold to keep them afloat, Ahmed realized that gold jewellery could be a reliable emergency fund.

Pam and Russ Martens: JPMorgan Securities is fined $100 million for spoofing and high-frequency-trading violations

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, May 28, 2024

How does a Wall Street trading firm gain competitive advantage to entice spoofers and high-frequency trading firms to use its trading platforms instead of those of its competitors?

How about having its trading compliance personnel wear a blindfold as billions of trades occur over the span of eight or nine years?

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Robert Lambourne: Interest cost of U.S. 'special debt' still falls as debt and rates rise

Section: Daily Dispatches

By Robert Lambourne
May 27, 2024

This note updates a report from March 17 concerning the gross interest cost reported in the last 12 monthly U.S. Treasury statements for the Federal government. That report is here:

India's central bank buys 1.5 times more gold in January-April than in all of 2023

Section: Daily Dispatches

By Gayatri Nayak
The Times of India, Mumbai
Thursday, May 23, 2024

The Reserve Bank of India added 24 tonnes of gold to its stock of reserves in four months from January to April this year as a hedge against volatility amid geopolitical tensions. This is reckoned to be a part of strategic diversification of reserves in challenging times.

This is almost 1 1/2 times the volume it did during the whole of 2023 when it added 16 tonnes to its reserves, an analysis of the Reserve Bank data indicates.

Jan Nieuwenjuijs: Strong PBoC and Chinese private-sector buying continues to boost gold

Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Wednesday, May 22, 2024

Chinese private-sector gold imports accounted for 543 tonnes in the first quarter, while the People's Bank of China added 189 tonnes to its reserves over this time. 

Most of the PBoC's purchases are "unreported."

China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.

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Zimbabwe asks miners to boost gold output to support new ZiG currency

Section: Daily Dispatches

By Godfrey Marawanyika
Bloomberg News
Monday, May 20, 2024

Zimbabwe has asked gold miners across the country to ramp up output to support the ZiG currency launched last month, according to Mines and Mining Development Minister Winston Chitando.

"This new currency is anchored on gold production. We have to determine ways to increase production," Chitando said Monday in a meeting with miners in the capital, Harare. 

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