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Daily Dispatches
Comex gold and silver shorts can't push metals lower, GATA's Steer says
Submitted by admin on Sat, 2026-05-23 11:36 Section: Daily Dispatches11:33a ET Saturday, May 23, 2026
Dear Friend of GATA and Gold (and Silver):
Interviewed this week by Dunagun Kaiser on the Liberty and Finance channel at YouTube, GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, says gold and silver shorts on the New York Commodities Exchange have pressed prices down as far as they can go and a reversal in direction is due.
Meanwhile, Steer says, China keeps draining metal from London and New York.
Striking gold is the dream for thousands of Australians but there's a 'paradox' holding them back
Submitted by admin on Sat, 2026-05-23 08:27 Section: Daily DispatchesBy Simon Johanson
Sydney Morning Herald
Saturday, May 23, 2026
Dig, doze, and detect is how Matthew Carkeek expects to strike gold on a historic plot of land at Dunolly, in one of Victoria's richest gold regions.
Carkeek, the owner of a specialist concrete construction firm, is one of hundreds of thousands of Australians prospecting, fossicking, and mining for the elusive precious metal as the soaring price of bullion underpins a mini modern-day gold rush.
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Despite calls for economic sovereignty, West Africa's gold reserves still rely on European banks and gold hubs
Submitted by admin on Sat, 2026-05-23 08:20 Section: Daily DispatchesBy Solomon Ekanem
Business Insider Africa, New York
Friday, May 22, 2026
West Africa's foreign reserves, valued at about $67 billion and managed by the Central Bank of West African States, remain largely held through European banks and vaulting hubs, despite growing debates over economic sovereignty.
Yet its latest audited accounts show a highly concentrated structure: About 86% of external assets are held with European counterparties, 82% of foreign exchange reserves are euro-denominated, and 92% of physical gold reserves are stored in Europe.
U.S. Fed officials propose prolonging dollar swap lines to underpin stability
Submitted by admin on Fri, 2026-05-22 11:22 Section: Daily DispatchesFrom Reuters
Thursday, May 21, 2026
FRANKFURT, Germany -- Some U.S. Federal Reserve officials proposed extending a critical, international supply line of U.S. dollars to underpin financial stability, according to an account of their recent meeting.
The discussion centered on extending so-called U.S. dollar swap lines, which the Fed has with five major central banks and has become a key backstop for global banking since the financial crisis.
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Silver vault expansion bill introduced in U.S. Senate
Submitted by admin on Thu, 2026-05-21 13:03 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, May 21, 2026
U.S. Sens. Jim Risch, R-Idaho, Catherine Cortez Masto, D-Nevada, today introduced the bipartisan System Integrity through Licensed Vault Expansion and Resilience Act (the SILVER Act), designed to derisk, modernize, and strengthen America's precious metals market infrastructure by encouraging greater geographic diversification of approved precious metals depositories.
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Gold will replace the dollar in oil trade, Maguire tells LFTV
Submitted by admin on Thu, 2026-05-21 12:54 Section: Daily Dispatches12:52p ET Thursday, May 21, 2026
Dear Friend of GATA and Gold:
Gold is likely to replace the U.S. dollar as the trade settlement currency for oil, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
This replacement, Maguire explains, will be accomplished through the Chinese yuan, which is freely convertible to gold at the Shanghai exchange. China, Maguire notes, already operates an international bank clearing system.
Money Metals CEO deplores superficiality of treatment of Fort Knox gold issue
Submitted by admin on Wed, 2026-05-20 23:24 Section: Daily Dispatches11:28p ET Wednesday, May 20, 2026
Dear Friend of GATA and Gold:
In an interview today with Chris Marcus of Arcadia Economics, Money Metals Exchange CEO Stefan Gleason deplores the superficiality with which the issue of auditing the U.S. gold reserve at Fort Knox continues to be treated by the Trump administration and financial news organizations.
The audits claimed to have been done by the U.S. government, Gleason says, have not really been audits at all but just a review of paperwork that itself has been improperly altered from time to time.
Indonesia plans to centralize control of commodity export prices
Submitted by admin on Wed, 2026-05-20 10:45 Section: Daily DispatchesBy Stanley Widianto, Gayatri Suroyo, and Fransiska Nangoy
Reuters
Wednesday, May 20, 2026
JAKARTA -- Indonesia today unveiled a sweeping plan to centralise exports of key commodities such as palm oil and coal, aiming to boost government revenue through tighter control of the sale and pricing of its abundant natural resources.
Sovereign wealth fund Danantara will oversee a trading company designated to channel exports, starting with palm oil, coal, and ferroalloys after a three-month transition. The government may add more commodities at three-month intervals.
Hong Kong targets July launch for new gold-clearing system
Submitted by admin on Wed, 2026-05-20 10:33 Section: Daily DispatchesBy Yihui Xie
Bloomberg News
Tuesday, May 19, 2026
Hong Kong plans to launch a new gold-clearing system by July, advancing the city's ambitions to become a global hub for bullion trading.
The government-owned mechanism will mirror the financial infrastructure used in London, the world's largest bullion market, and allow participants to settle trades through unallocated accounts, people familiar with the matter said, requesting anonymity as they are not authorized to speak to the media.
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Japan, China lead foreign govt. retreat from U.S. Treasurys as Iran war stokes currency fears
Submitted by admin on Wed, 2026-05-20 08:57 Section: Daily DispatchesBy Anniek Bao
CNBC, New York
Tuesday, May 19, 2026
Foreign governments cut U.S. Treasurys in March as the Middle East war forced central banks to liquidate dollar reserves, defending local currencies against an energy shock that sent exchange rates tumbling.
China reduced its holdings to $652.3 billion, down roughly 6% from February to the lowest level since September 2008, according to U.S. Treasury data released late Monday stateside.
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