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Daily Dispatches
Robert Lambourne: After sharp rise in November, BIS gold swaps ended the year at zero
Submitted by admin on Tue, 2023-01-31 14:47 Section: Daily DispatchesBy Robert Lambourne
Tuesday, January 31, 2023
Based on its December statement of account, published today --
https://www.bis.org/banking/balsheet/statofacc221231.pdf
-- the Bank for International Settlements, the central bank of the central banks and their gold broker, appears to have closed its gold swap business as of the end of the year.
Craig Hemke at Sprott Money: The busy week ahead for gold
Submitted by admin on Tue, 2023-01-31 13:44 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, January 31, 2023
While there will be all sorts of economic and geopolitical headlines in the days ahead, two events that will drive precious metals stand out.
The first will be the conclusion of the January Federal Open Market Committee meeting on Wednesday. The second will be the release of the January U.S. jobs report on Friday.
If Comex gold and silver can successfully navigate both, the possibility of a February rally will grow.
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'Colossal' central bank buying drives gold demand to decade high
Submitted by admin on Tue, 2023-01-31 08:49 Section: Daily DispatchesBy Harry Dempsey
Financial Times, London
Tuesday, January 31, 2023
Demand for gold surged to its highest in more than a decade in 2022, fuelled by "colossal" central bank purchases that underscored the safe haven asset's appeal during times of geopolitical upheaval.
Annual gold demand increased 18% last year to 4,741 tonnes, the largest amount since 2011, driven by a 55-year high in central bank purchases, according to the World Gold Council, an industry-backed group.
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Biden to block Pebble gold mine in salmon-rich area in Alaska
Submitted by admin on Mon, 2023-01-30 20:52 Section: Daily DispatchesBy Jennifer A. Dlouhy
Bloomberg News
Monday, January 30, 2023
The Biden administration is set to ban the dumping of mining waste near Bristol Bay, Alaska, by issuing a decree that thwarts longstanding plans to extract gold, copper, and molybdenum because of potential harm to the region's thriving sockeye salmon industry.
Silver will be priced in gold grams in Russia, Maguire tells 'Live from the Vault'
Submitted by admin on Fri, 2023-01-27 21:04 Section: Daily Dispatches9p ET Friday, January 27, 2023
Dear Friend of GATA and Gold:
Silver and other commodities, London metals trader Andrew Maguire tells this week's "Live from the Vault" program at Kinesis Money, increasingly will be priced in gold grams in Russia as that country and China weaponize the monetary metal to offset the weaponization of the U.S. dollar.
The program is 43 minutes long and can be viewed at YouTube here:
Ronan Manly: Longtime gold market crook Deutsche Bank wants back in the LBMA
Submitted by admin on Thu, 2023-01-26 21:39 Section: Daily Dispatches9:39p ET Thursday, January 26, 2023
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly reports tonight that nine years after exiting the London Bullion Market Association in a storm of corruption and market rigging, Deutsche Bank proposes to return.
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Alasdair Macleod: Russia's intentions are clarifying
Submitted by admin on Thu, 2023-01-26 11:14 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, January 26, 2023
We have confirmation from the highest sources that Russia and the Shanghai Cooperation Organisation are considering using gold for pan-Asian trade settlements, fully replacing dollars and euros.
Craig Hemke at Sprott Money: Gold bank run won't start at the Comex
Submitted by admin on Wed, 2023-01-25 16:50 Section: Daily Dispatches4:50p ET Wednesday, January 25, 2023
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing today at Sprott Money, concludes that no serious gold action is taking place on the New York Commodities Exchange. Rather, Hemke writes, the same four big banks are just shuffling among themselves the contracts nominally being bought and sold.
When a run on the gold banking system develops, Hemke writes, it's not likely to happen at the Comex.
Hemke's analysis is headlined "Comex January Gold Deliveries" and it's posted at Sprott Money here:
Switzerland sent 524 tonnes of gold to China last year, most since 2018
Submitted by admin on Tue, 2023-01-24 14:55 Section: Daily DispatchesBy Peter Hobson
Reuters
via Nasdaq.com, New York
Tuesday, January 24, 2023
LONDON -- Swiss exports of gold to countries including China, Turkey, Singapore, and Thailand surged to multi-year highs last year, Swiss customs data showed today, as low prices boosted demand from consumers in Asia and the Middle East.
Rising interest rates caused many financial investors in Europe and North America to sell gold in 2022, releasing large amounts of metal from storage and pushing down prices.
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Jim Rickards: Gold's breakout is central banking's doing, not inflation's
Submitted by admin on Tue, 2023-01-24 11:51 Section: Daily DispatchesBy James G. Rickards
The Daily Reckoning, Baltimore
Monday, January 23, 2023
Most assets have a poor record over the past year. Gold is one of the few assets that posted a gain -- not a major gain, but a gain.
Gold has really taken off since late October, from below $1,630 to almost $1,930 today. That's a major move. What's going on?
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