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Daily Dispatches

India's central bank was top gold buyer from April 2020 to Sept. 2022

Section: Daily Dispatches

From Adda24/7
Gurugram, India
Monday, December 26, 2022

With 132.34 metric tonnes of gold purchased, the Reserve Bank of India has emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. 

The RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020 it bought 41.68 MT of gold, while in 2021 and 2022 (till September end) it bought 77.5 MT and 31.25 MT respectively.

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Euro is forecast to be worth less than a dollar after Lagarde's 'kamikaze' rate rises

Section: Daily Dispatches

By Szu Ping Chan
The Telegraph, London
Sunday, December 25, 2022

The euro will collapse below parity with the dollar next year as the European Central Bank "kamikaze" rate rises backfire and a scramble for energy supplies pushes the bloc into a prolonged economic downturn, City economists have said.

JP Morgan, ING, Capital Economics, and Barclays all believe the single currency will drop below parity against the dollar within months to a fresh 20-year low.

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Has Russia's invasion of Ukraine doomed the dollar?

Section: Daily Dispatches

By Robert G. Rabil
The National Interest, Washington
Friday, December 23, 2022

Russia's invasion of Ukraine has undoubtedly ended the post-Cold War era. Although many countries have condemned Russia's invasion, the majority of them have not sanctioned Russia. 

Metals trader Andrew Maguire interviewed on UK network by Nigel Farage

Section: Daily Dispatches

11:08p ET Friday, December 24, 2022

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire was interviewed this week on Nigel Farage's program on the GBN network in the United Kingdom, discussing gold market manipulation and what he sees gold's superior qualities as money.

The interview is 10 minutes long and can be viewed at YouTube here:

Japan's Christmas bombshell risks setting off another European credit crunch

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, December 23, 2022

Japan is the world’s top creditor with $3.6 trillion (L3 trillion) of net assets overseas. It is the marginal buyer of British, eurozone, and American debt, and a central pillar of the international bond market.

Court tosses out lawsuit by LME traders for disclosures on nickel debacle

Section: Daily Dispatches

By Harry Dempsey
Financial Times, London
Friday, December 23, 2022

A London court has dismissed a case by hedge fund AQR Capital Management and other market participants against the London Metal Exchange, relieving the bourse from a request to disclose further information about its March decision to cancel billions dollars worth of nickel trades.

Alasdair Macleod: Inflation, recession, and declining U.S. hegemony

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, December 22, 2022

In the distant future we might look back on 2022 and 2023 as pivotal years. 

So far we have seen the conflict between America and the two Asian hegemons emerge into the open, leading to a self-inflicted energy crisis on the western alliance. The 40-year trend of declining interest rates has ended, replaced by a new rising trend, the full consequences and duration of which are as yet unknown.

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Russian gold was removed from some Western funds after Ukraine war

Section: Daily Dispatches

By Peter Hobson
Wednesday, December 21, 2022

LONDON -- Hidden inside high-security bank vaults in London, Zurich, and New York, billions of dollars' worth of gold of Russian origin has quietly changed hands in recent months in response to Moscow's invasion of Ukraine.

Data from 11 Western investment funds show that Russian bullion worth a total of $2.2 billion at current prices was removed from their accounts between July and November.

Funds storing gold have shrunk in recent months as rising interest rates triggered disinvestment from bullion.

Suddenly everyone is hunting for alternatives to the U.S. dollar

Section: Daily Dispatches

Didn't the world once use some kind of metal with monetary properties? Is that still around?

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By Michelle Jamrisko and Ruth Carson
Bloomberg News
via Yahoo News, Sunnyvale, California
Wednesday, December 21, 2022

King Dollar is facing a revolt. 

Tired of a too-strong and newly weaponized greenback, some of the world’s biggest economies are exploring ways to circumvent the US currency. 

Central bank suppression of monetary metals can't last much longer, Sprott says

Section: Daily Dispatches

9:04 p ET Wednesday, December 21, 2022

Dear Friend of GATA and Gold (and Silver):

In his year-end interview with Craig Hemke of the TF Metals Report for Sprott Money, mining entrepreneur Eric Sprott says he is most enthusiastic about silver and that central bank suppression of gold and silver prices can't last much longer under the pressure of rising demand for real metal.