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Daily Dispatches

Another rich country insisting on being poor watches its currency collapse

Section: Daily Dispatches

Nigerian Naira Ends Year with 96.5% Loss to U.S. Dollar on Official Market

By Hope Moses-Ashike
Business Day, Lagos, Nigeria
Sunday, December 31, 2023

The foreign exchange market trading closed for the year on Friday with the naira losing 96.55% of its value against the dollar at the official market.

Ted Butler: No letup yet in silver price suppression

Section: Daily Dispatches

By Ted Butler
SilverSeek.com
Friday, December 29, 2023

It seems to me that the forces at play in silver, both working for and against sharply higher prices, show no signs of letting up. However, common sense and logic dictate that such diametrically-opposed forces point to an eventual end to the stalemate -- with the only real question being when. Since these opposing forces have been in play for 40 years, they have taken on a life of their own and the purpose of this review is a brief overview and summary.

Alasdair Macleod: Gold in 2024

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, December 28, 2023

To market observers, gold appears ready to break into new high ground measured in all the major currencies. In fact, it is the currencies’ collapse in their values, rather than gold rising. Appreciating this distinction is vital for understanding the future of the gold/currency relationship.

London gold price benchmark breaks all-time high, LBMA says

Section: Daily Dispatches

From Reuters
Wednesday, December 27, 2023

London's gold price benchmark hit an all-time high of $2,069.40 per troy ounce at an afternoon auction today, surpassing the previous record of $2,067.15 set in August 2020, the London Bullion Market Association said.

"I can think of no clearer demonstration of gold's role as a store of value than the enthusiasm with which investors across the world have turned to the metal during the recent economic and geopolitical turmoils," said LMBA's chief executive officer Ruth Crowell. ...

No takers for Indian rupees as payment for oil imports

Section: Daily Dispatches

From the Press Trust of India
via The Times of India, Mumbai
Monday, December 25, 2023

India's push for the rupee to be used to pay for import of crude oil has not found any takers as suppliers have expressed concern on repatriation of funds and high transactional costs, the oil ministry told a parliamentary standing committee. 

China sidelines its once-venerated central bank

Section: Daily Dispatches

By Cheng Leng and Sun Yu
Financial Times, London
Monday, December 25, 2023

The influence of China's once-powerful central bank has diminished as Beijing steps up a drive to centralise Communist party control over financial regulation.

Rare Edward VIII gold medal to go up for auction

Section: Daily Dispatches

By India McTaggart
The Telegraph, London
Monday, December 25, 2023

A rare gold medal featuring Edward VIII has emerged after an unsuspecting owner handed it to a pawnbroker.

The medal, thought to be one of just 26 in existence, bears the official Royal Mint effigy of the former king, whose reign lasted under a year before he abdicated the throne.

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USA Gold: Coins and Bullion Since 1973

Another government-sanctioned market manipulation that has enriched the very few?

Section: Daily Dispatches
9:42a ET Saturday, December 23, 2023
 
Dear Friend of GATA and Gold:

Gold and silver advocate Eric Sprott reviews 2023 with Craig Hemke

Section: Daily Dispatches

12:54a Saturday, December 23, 2023

Dear Friend of GATA and Gold:

Canadian mining entrepreneur and gold and silver advocate Eric Sprott was interviewed this week by financial letter writer Craig Hemke, providing a review of 2023 from a hard-money perspective. Sprott laments the increasing dishonesty in financial and political affairs, the underreporting of inflation, the naked shorting of the shares of mining exploration companies, gold price suppression by bullion banks, exploding government debt, and currency devaluation. 

Police probe whether gold seized in Montreal is linked to Toronto heist

Section: Daily Dispatches

By Aaron Derfel
Montreal Gazette
Friday, December 22, 2023

Montreal and Toronto-area police are investigating whether the surprise seizure of hundreds of thousands of dollars worth of gold during a firearms raid in the east end of the city on Tuesday is connected to last April's daring $20 million gold heist at Toronto's Pearson Airport, the Gazette has learned.

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