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Daily Dispatches

China's gold buying slows as reserves grow for 18th straight month

Section: Daily Dispatches

At least the gold buying slowed if you believe official data, as Bloomberg News usually does

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By Sybilla Gross and Jack Ryan
Bloomberg News
via Yahoo Finance, Sunnyvale, California
Tuesday, May 7, 2024

China's central bank topped up its gold reserves for an 18th straight month in April, although the pace of buying slowed in the face of record prices.

China's gold-buying spree could be the straw that breaks the dollar's back

Section: Daily Dispatches

By Julian Jessop
The Telegraph, London
Sunday, May 5, 2024

Some commentators have spent decades predicting the imminent demise of the U.S. dollar's special status as the world's international reserve currency.

Eventually they will be right, and that day may be drawing much closer. As usual, China could hold the key.

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International trade will keep requiring more gold, Maguire tells LFTV

Section: Daily Dispatches

10:36a ICT Sunday, May 5, 2024

Dear Friend of GATA and Gold:

Nations retreating from the U.S. dollar, especially those aligned with the BRICS group, will continue to require more gold for their international trade, London metals trader Andrew Maguire says in this week's "Live from the Vault" program from Kinesis Money.

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Section: Daily Dispatches

10:30a ICT Sunday, May 5, 2024

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Trump blames strong dollar for U.S. economy 'going to hell'

Section: Daily Dispatches

By Chris Matthews
MarketWatch, New York
Friday, May 3, 2024

Donald Trump took aim at the Biden administration's management of the U.S. dollar in a recent interview, once again raising the possibility that, in a second term, he would push policies to weaken the American currency to boost exports.

"Our economy is going to hell. You have to see what's going to happen with the way with the outflow of jobs, with the dollar the way it's situated," he said in a Thursday interview with the local Fox affiliate in Detroit.

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China's economic gambit could nuke Putin's dollar ploy

Section: Daily Dispatches

By Brendan Cole
Newsweek, New York
Friday, May 3, 2024

Economists call it the "nuclear" option but speculation that China might devalue its currency the yuan (RMB) could cause fallout for Russia as President Vladimir Putin pushes to move the global economy away from its reliance on the U.S. dollar.

Barrick Gold is not interested in bidding for Anglo American

Section: Daily Dispatches

By Divya Rajagopal and Felix Njini
Wednesday, May 1, 2024

TORONTO -- Barrick Gold is not interested in bidding for Anglo American, which last week received a $39 billion takeover offer from BHP, and is building its own copper portfolio, the Canadian miner's CEO Mark Bristow said Wednesday.

If BHP's proposed acquisition of Anglo is successful, it would create one of the world's biggest copper miners.

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Gordon Brown's decision to sell Britain's gold looks ever more disastrous

Section: Daily Dispatches

By Philip Pilkington
The Telegraph, London
Thursday, May 2, 2024

According to the latest estimates, taxpayers will be on the hook to cover L85 billion in losses stemming from the unwinding of the Bank of England's quantitative easing (QE) policy. The scheme is set to lose about L20bn a year until the early 2030s -- a yearly figure worth more than a third of our current defence budget.

China's $170 billion gold rush triggers Taiwan invasion fears

Section: Daily Dispatches

By Melissa Lawford
The Telegraph, London
Tuesday, April 30, 2024

China has built up a $170 billion stockpile of gold after a record buying spree, in a move that has raised fears Beijing is preparing its economy for a possible conflict over Taiwan.

The People's Bank of China bought 27 tonnes of gold in the first three months of the year, taking its reserves to a record high of 2,262 tonnes, according to data from the World Gold Council.

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Chinese public is buying more than twice as much gold as the nation mines

Section: Daily Dispatches

China's consumers seek security in gold, 'the only safe asset'

By Mia Nulimalmaiti
South China Morning Post, Hong Kong
Monday, April 29, 2024

Chinese consumers are increasing their appetite for gold, seeking to protect their assets amid a volatile stock market, a depreciating yuan, and property doldrums, which analysts said would continue to boost international gold prices coupled with geopolitical uncertainties.