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Daily Dispatches

Russian bank's digital gold may lead to gold payment for commodities, Maguire says

Section: Daily Dispatches

9:22p ET Friday, January 13, 2023

Dear Friend of GATA and Gold:

The digital tokens for gold now being issued by Russia's Sberbank may clear a path for the use of gold for payment for commodities in Russia, London metals trader Andrew Maguire says in this week's "Live from the Vault" program from Kinesis Money.

Tennessee legislators propose a state bullion depository

Section: Daily Dispatches

From Money Metals News Service
Eagle, Idaho
Thursday, January 12, 2023

Building on the success of passing a full sales tax exemption on precious metals (HB 1874 and SB 1857) in 2022, lawmakers in Tennessee have set their sights on another pro-sound money effort: an in-state bullion depository.

Alasdair Macleod: The evolution of credit and debt in 2023

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, January 12, 2023

The evidence strongly suggests that a combined interest rate, economic, and currency crisis for the United States and its Western alliance will continue in 2023.

Ronan Manly: China's gold purchase announcements have strategic purpose

Section: Daily Dispatches

2p ET Wednesday, January 11, 2023

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly writes today that China's announcements of gold purchases are made strategically, to remind the world that China is a big power in the currency markets, and that while many months may pass without such announcements, China is probably acquiring gold steadily anyway in pursuit of a plan to hold the world's largest gold reserve. 

Indeed, Manly adds, China already may be nearing that point.

With Musk's support and ETFs doubtful, silver is explosive, GATA chairman says

Section: Daily Dispatches

10p ET Tuesday, January 10, 2023

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, remarks that silver as an investment is even more explosive now that multi-billionaire Elon Musk is promoting the monetary metal, especially as the major silver exchange-traded funds are falling under suspicion. The interview is 13 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:

First Quantum threatens to shut vast Panama copper mine over tax dispute

Section: Daily Dispatches

By Harry Dempsey and Michael Stott
Financial Times, London
Tuesday, January 10, 2023

First Quantum Minerals has threatened to close its vast copper mine in Panama if it fails to resolve a tax dispute that it says risks damaging the country's business-friendly reputation.

Panama has demanded that the Canadian group pay corporate tax of at least $375 million a year along with a profit-based mineral royalty of 12-16%, a steep rise on the $61 million FQM paid to Panama on a project that raked in $1.4 billion of gross profit in 2021.

Ted Butler: A special note about silver

Section: Daily Dispatches

By Ted Butler
Monday, January 9, 2023

For the first holiday-shortened trading week of the new year, gold turned in a very strong performance, ending higher by $40 (2.2%) while a late-day rally yesterday only resulted in silver narrowing its losses for the week to 18 cents (-0.7%). 

As a result of silver's extreme relative underperformance, the silver/gold price ratio widened out by just over two full points to 78 to 1.

... Dispatch continues below ...


Ed Steer: Shockingly low silver volume on Friday

Section: Daily Dispatches

7:30p ET Monday, January 9, 2023

Dear Friend of GATA and Gold:

The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Shockingly Low Silver Volume on Friday" and is posted in the clear at SilverSeek here:

Jan Nieuwenhuijs: Zoltan Pozsar, the four prices of money, and the coming gold bull market

Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Monday, January 9, 2023

Over the past 100 years there has been a correlation between major equity bear markets, adjustments in one of the four "prices of money," and gold bull markets. If we let history be our guide, the current equity bear market is signaling a new gold bull market, supported by changes in the price of money.

Brien Lundin: As gold rises, mining shares are showing leverage to the price

Section: Daily Dispatches

By Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, January 9, 2023

In a Golden Opportunities letter last week, I resorted to my oft-used "Happy New Year" headline to highlight yet another early-year gold rally.

As I noted in that issue, gold often bottoms in mid-December and continues to rally well into a new year.