GATA

At LBMA conference, BIS exec shows off his experience secretly intervening in gold

Section: Daily Dispatches

10:33p ET Monday, November 28, 2022

Dear Friend of GATA and Gold:

Along with mining entrepreneur Pierre Lassonde and professional nihilist Doug Casey, some bigshots in the monetary metals sector still contend that central banks don't care much about gold.

Ghana in talks with Dubai oil refiner to barter gold for fuel

Section: Daily Dispatches

By Ekow Dontoh and Moses Mozart Dzawu
Bloomberg News
Monday, November 28, 2022

Ghana is in talks with Emirates National Oil Co. for a barter arrangement that will enable the West African nation to buy fuel with gold.

Ambrose Evans-Pritchard: Putin plots Europe's deindustrialization

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, November 24, 2022

Vladimir Putin lost his energy war this year. He may still win it next year by exhausting Europe’s will to resist through another gas and power crunch.

The secondary target of his bombing blitz on Ukraine’s energy infrastructure is the EU itself. The damage deprives Europe of crucial electricity imports from Ukrainian plants. Power will have to flow in the opposite direction to prevent a humanitarian disaster in Ukrainian cities.

Gold miners odered to sell 20% of refined bullion to Ghana

Section: Daily Dispatches

By Ekow Dontoh
Bloomberg News
Friday, November 25, 2022

Ghana ordered large gold-mining companies to sell 20% of the metal they refine to the nation's central bank, as the government embarks on a plan to barter bullion for fuel.

The directive will be effective Jan. 1, Minister for Lands and Natural Resources Samuel Jinapor said in a notice posted on Vice President Mahamudu Bawumia's Facebook page. The government also ordered small-scale miners to sell their gold to the state-owned Precious Minerals Marketing Co.

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Ghana plans to buy oil with gold instead of U.S. dollars

Section: Daily Dispatches

By Cooper Inveen, Christian Akorlie, and Sofia Christensen
Reuters
Thursday, November 24, 2022

ACCRA, Ghana -- Ghana's government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice President Mahamudu Bawumia said on Facebook today.

The move is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.

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William Pesek: China's gold stockpiling is a warning sign on dollar

Section: Daily Dispatches

By William Pesek
Asia Times, Hong Kong
Thursday, November 24, 2022

TOKYO -- One of the worst-kept secrets in global central banking is the extent to which Chinese officials are swapping dollars for gold.

Governor Yi Gang's team at the People's Bank of China isn't admitting as much. The PBOC doesn't have to, though, given the clear policy trajectory Chinese leader Xi Jinping has pursued in recent years: internationalizing of the yuan as the top rival to the dollar.

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Asante