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Daily Dispatches
Young Chinese spurn traditional investments in favor of gold
Submitted by admin on Tue, 2023-12-05 21:59 Section: Daily DispatchesBy Casey Hall and Amy Lv
Reuters
Tuesday, December 5, 2023
Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency, and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy.
The trend underscores heightening uncertainty about growth prospects in the world's second-largest economy, which has not recovered from COVID-19 lockdowns as fast as consumers and job hunters had expected.
Byzantine gold coin with image of Jesus unearthed by metal detectorist in Norway
Submitted by admin on Tue, 2023-12-05 21:45 Section: Daily DispatchesBy Jennifer Nalewicki
Live Science, New York
Tuesday, December 5, 2023
A metal detectorist discovered a thousand-year-old gold coin depicting Jesus Christ while exploring the mountains in Vestre Slidre, a municipality in southern Norway.
Known as a "histamenon nomisma," this type of small coin was introduced around A.D. 960. It shows Jesus holding a Bible on one side and, on the other, the images of Basil II and Constantine VII, two brothers who both ruled the Byzantine Empire, according to a translated statement.
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Sound Money Scholarship awards $13,500 to 9 outstanding students
Submitted by admin on Tue, 2023-12-05 21:28 Section: Daily DispatchesCompany Announcement
Money Metals Exchange, Eagle, Idaho
Tuesday, December 5, 2023
With the world facing high levels of inflation and financial instability, more students than ever applied this year for the Sound Money Scholarship, the only known gold-backed scholarship program worldwide.
Roughly 150 applicants across three continents, a half dozen countries, and 35 states competed for $13,500 in funding -- with nine high school, undergraduate, and graduate students ultimately earning a scholarship check for their outstanding applications.
Watch the New Orleans conference at home while helping GATA too
Submitted by admin on Tue, 2023-12-05 21:24 Section: Daily Dispatches9:29p ET Tuesday, December 5, 2023
Dear Friend of GATA and Gold:
You missed a lot if you didn't attend the New Orleans Investment Conference last month -- a great city renovating itself, wonderful restaurants, refreshing weather, people who make hospitality a way of life, and, of course, financial commentary from some great minds. (Oh, well, GATA's too.)
Ronan Manly: World is about to discover that the real risk-free asset is gold
Submitted by admin on Mon, 2023-12-04 20:19 Section: Daily Dispatches8:16p ET Monday, December 4, 2023
Dear Friend of GATA and Gold:
Bullion Star gold market analyst Ronan Manly today examines the extreme volatility in the gold price since Friday and concludes that the official sector was involved, and for obvious reasons, among them "to paint the tape with such a hugely plummeting daily candle pattern that it would break the psychology of the market, at least in the near term."
Jan Nieuwenhuijs: Poland's central bank buys gold in accordance with secret EU plan
Submitted by admin on Mon, 2023-12-04 12:41 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Monday, December 4, 2023
The Polish central bank has bought roughly 300 tonnes of gold in recent years to bring its gold-gross national product ratio in line with the average in the eurozone.
For medium and large economies in the eurozone, in which Poland might be included in the future, an equal monetary gold-to-GDP ratio is a covert requirement for nations to be prepared for a shift to a new gold standard. Based on these requirements I expect Poland to buy an additional 130 tonnes of gold.
Zimbabwe monetizes its platinum, sort of
Submitted by admin on Mon, 2023-12-04 12:09 Section: Daily DispatchesZimbabwe Uses Platinum to Pay $400 Million Afrexim Bank Debt
By Ray Ndlovu
Bloomberg News
Monday, December 4, 2023
Zimbabwe is using the proceeds of its platinum exports to settle a $400 million loan from the African Export-Import Bank as the indebted nation turns to its mineral wealth to open lines of credit.
NY Fed refuses to say if it been repatriating or intervening in gold
Submitted by admin on Sat, 2023-12-02 10:33 Section: Daily DispatchesCan you help us get the answers?
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10:35a ET Saturday, December 2, 2023
Dear Friend of GATA and Gold:
With repeated telephone calls and e-mails, for three weeks your secretary/treasurer has been trying to get the Federal Reserve Bank of New York to answer two simple questions about its gold responsibilities -- questions the New York Fed has answered for others in years past -- but has been unable to get any form of acknowledgment.
Would you be kind enough to help?
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LFTV: Gold reset is imminent but will it be coordinated or weaponized?
Submitted by admin on Fri, 2023-12-01 21:13 Section: Daily Dispatches9:12p ET Friday, December 1, 2023
Dear Friend of GATA and Gold:
Will the coming reset of the gold price be coordinated among central banks or weaponized by some of them, and what will be its effect on the New York Commodities Exchange, the primary venue of price rigging?
London metals trader Andrew Maguire offers answers to those questions in this week's episode of Kinesis Money's "Live from the Vault" program hosted by Shane Morand.
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LME vindicated for cancelling nickel trades; Comex must feel relief
Submitted by admin on Thu, 2023-11-30 12:47 Section: Daily DispatchesLME Triumphs in Lawsuit Over Cancelled Nickel Trades
By Sam Tobin and Pratima Desai
Reuters
Wednesday, November 29, 2023
LONDON -- The London Metal Exchange won Wednesday a legal battle with U.S. financial firms that brought a case demanding $472 million in compensation after the exchange cancelled billions of dollars in nickel trades last year following a surge in prices.
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