GATA

Trump's disdain for digital dollar risks 'Cold War era' in money

Section: Daily Dispatches

By María Paula Mijares Torres
Bloomberg News
Friday, July 19, 2024

Central bank digital currencies were once looked upon as nothing short of the future of money around the world. Yet at least in the United States, that sunny outlook for CBDCs is in serious doubt for one simple reason: Donald Trump and his Republican allies hate them.

GATA's Ed Steer talks silver price suppression with Money Metals' Mike Maharrey

Section: Daily Dispatches

9:12a ET Saturday, July 20, 2024

Dear Friend of GATA and Gold:

GATA board member Ed Steer, proprietor of Ed Steer's Gold and Silver Digest, is interviewed today by Mike Maharrey of Money Metals Exchange about silver price suppression on the New York Commodities Exchange, where paper trading is still dominating physical trading despite signs of a big shortage of metal for the physical market.

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UK gold coin sales jump on concerns over Labour's fiscal plans

Section: Daily Dispatches

By Jack Wittels
Bloomberg News
Thursday, July 18, 2024

Sales of tax-exempt gold coins by the UK's Royal Mint jumped in the last quarter as investors fretted about potential changes to fiscal policy by an expected new Labour government.

The total value of gold coins that don’t attract capital gains sold on the Mint's website jumped by 9% during April-June from a year earlier, according to Stuart O’Reilly, market insight manager at the money producer. 

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Why younger investors are drawn to gold

Section: Daily Dispatches

By Chris Taylor
Reuters
Thursday, July 18, 2024

NEW YORK -- What asset class do millennials and Gen Z investors both want to own?

Here is an answer you may not have guessed: Gold.

Among wealthy investors under the age of 43, 45% own gold as a physical asset, and another 45% are interested in holding it, according to a recent study by Bank of America Private Bank.

Those are far higher percentages than other age groups.

Gold jumps to record as traders increase bets on Fed rate pivot

Section: Daily Dispatches

How mistaken and tiresome is the assertion below that gold "bears no interest." Neither do government currencies, unless they are lent. Just like government currencies, gold pays interest when it is lent. So does silver. 

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By Jack Wittels, Mark Burton, and Nick Bartlett
Bloomberg News
Tuesday, July 16, 2024

Gold hit a record high today as hopes for U.S. Federal Reserve rate cuts grow and some traders ramped up bets on a second Donald Trump presidency.

LBMA, World Gold Council urge BIS to list gold as 'high-quality liquid asset' under Basel III

Section: Daily Dispatches

Maybe even the BIS considers gold to be the future of money as well as its past.

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From Solitaire
Gem & Jewellery Export Promotion Council, Mumbai
Thursday, July 11, 2024

Last week delegates from the London Bullion Market Association, including Paul Fisher, Ruth Crowell, David Gornall, and Edel Tully, joined Mike Oswin of the World Gold Council in Basel for a meeting with the Bank for International Settlements. 

Asante