GATA

Qatar boosts gold reserves as FIFA World Cup nears

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Saturday, October 1, 2022

With many eyes across the world soon turning towards the Gulf State of Qatar as it hosts the 2022 FIFA World Cup later this year, now is a good time to look at another interesting development in the Qatari rmirate -- the recent rapid growth of Qatar's monetary gold reserves.

In August the Qatar central bank raised a few eyebrows when it announced that during July it had purchased about 14.8 tonnes of gold, thereby bringing the country's official gold reserves to 72.3 tonnes.

Turkish central bank is top gold buyer among central banks this year

Section: Daily Dispatches

From the Daily Sabah, Istanbul
Friday, September 30, 2022

The Turkish central bank has been the top gold buyer among its global peers so far this year, according to data from the World Gold Council.

The Central Bank of the Republic of Türkiye bought around 9 tons of gold in August, the council said Thursday, increasing its total purchases to 84 tons year-to-date,

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London gold dealer runs out of bullion as Truss budget shocks

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
Saturday, October 1, 2022

When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that has recently lost its luster: gold.

As the UK currency slid to an all-time low early Monday, bullion priced in pounds climbed close to a record. That would typically encourage selling and deter buyers, but this time round the turmoil in British bond and currency markets increased the allure of the precious metal.

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Eurasia will lead the world back to gold, Macleod tells Maguire

Section: Daily Dispatches

9:25p ET Friday, September 30, 2022

Dear Friend of GATA and Gold:

Discussing world financial affairs with London monetary metals trader Andrew Maguire on Kinesis Money's "Live from the Vault" program, GoldMoney research director Alasdair Macleod says a new world payment system is likely to arise from the Eurasian powers and that it will draw heavily on gold.

Additionally, Macleod notes the steady devaluation of many major currencies and says the entire fiat currency system well may collapse.

Frank Holmes: Gold has been a great store of value amid the 'everything selloff'

Section: Daily Dispatches

By Frank Holmes
U.S. Global Investors, San Antonio, Texas
Wednesday, September 28, 2022

"Gold is no longer a safe haven." 

"Gold isn't an effective hedge against inflation." 

"Gold is dead."

Ted Butler: The monetary metals bear trap: Is it finally set?

Section: Daily Dispatches

By Ted Butler
SilverSeek.com
Thursday, September 29, 2022

What has been occurring in the gold and silver markets is nothing short of extraordinary. In the face of all objective and measurable conditions in the physical markets pointing to higher prices, instead prices have collapsed over the past six months by amounts comparable to the sharpest selloffs in history. From the price top of March 8, gold has fallen as much as $450 (22%), while silver has fallen by as much as $10 (36%) in recent dealings.

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Asante