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Daily Dispatches

Iran proposes slashing zeros from currency after decades of decline

Section: Daily Dispatches

Meanwhile in the United States, nickels become pennies.

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By Bita Ghaffari and Joseph Cotterill
Financial Times, London
Monday, August 4, 2025

Iran has proposed cutting four zeros from the rial after decades of inflation and economic pain eroded the value of the currency.

The parliament's economic committee approved the general outlines of a government bill to re-denominate the rial on Sunday.

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Gold and Trump's chaos were key to the TSX's stellar performance this year

Section: Daily Dispatches

By Tim Kiladze
The Globe and Mail, Toronto
Monday, August 4, 2025

Canada's benchmark stock index is outperforming both the S&P 500 and the tech-heavy Nasdaq Composite Index in 2025, and there is a single sector doing the heavy lifting: gold.

Despite the continuing tariff drama with the United States that disproportionately hurts Canada's economy relative to the U.S., the S&P/TSX Composite Index is up 11.1% since the start of the year, including dividends, while the S&P 500 has climbed 6.9% and the Nasdaq has risen 7.3%.

Swiss gold trading takes spotlight in trade talks with Trump

Section: Daily Dispatches

By Jan-Henrik Foerster and Jack Ryan
Bloomberg News
Monday, August 4, 2025

The trade imbalances that prompted President Donald Trump to slap hefty levies on Swiss imports have been driven by a small industry at the center of the world’s gold market.

The country is the world's biggest gold-refining hub, thanks to a longstanding reputation for quality and discretion. Billions of dollars worth of gold is constantly flowing into and out of the nation, from mines in South America and Africa to banks in London and New York.

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UK investors buy gold coins in record numbers to avoid capital gains tax

Section: Daily Dispatches

By Emma Agyemang and Emma Dunkley
Financial Times, London
Friday, August 1, 2025

UK investors have been buying gold coins in record numbers this year to mitigate against rises in capital gains tax and to cash in on the surging price of the precious metal.

Online bullion transactions hit record levels in the first quarter of the 2025-26 financial year, the Royal Mint said last week. Bullion coin sales were up 115% compared with the same period last year.

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YPF plaintiffs embark on 'treasure hunt' for Argentine central bank's gold

Section: Daily Dispatches

By Bob Van Voris
Bloomberg News
Wednesday, July 30, 2025

A lawyer representing former YPF SA shareholders told a judge in New York that they're on a "treasure hunt" for gold bars Argentina's central bank secretly sent abroad last year.

Play silver's breakout by donating to GATA

Section: Daily Dispatches

8:28p ET Wednesday, July 30, 2025

Dear Friend of GATA and Gold:

Like gold, silver now seems to be breaking out of its longstanding derivatives clutches engineered by the U.S. government and its investment bank agents. But this largely surreptitious manipulation of the monetary metals markets hasn't been overthrown yet.

Adrian Ash: China 'buys the dip' in gold after record ETF outflows

Section: Daily Dispatches

By Adrian Ash
Bullion Vault, London
Wednesday, July 30, 2025

Gold fell again today against a surging U.S. follar, setting its lowest London price in three weeks as headlines proclaiming a sudden flight out of Chinese bullion-backed exchange-traded trust funds preceded the U.S. Federal Reserve's July interest-rate decision.

Mike Maharrey: 2021 meme reveals the relentless devaluation of our money

Section: Daily Dispatches

By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Tuesday, July 29, 2025

I ran across a 2021 meme the other day that vividly illustrates just how quickly the government is destroying your money.

The meme points out that in 1964 the minimum wage was $1.25, or five quarters. That sounds really low, but keep in mind that before 1965, quarters were 90% silver. In 2021 the melt value of those five quarters was $23.34.

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Craig Hemke: A lesson in open interest

Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, July 29, 2025

I've learned a few things while watching the Comrc precious metals every day for the past 15 years. One lesson involves the timing and scale of new contract issuance during price rallies, and all of us just got reminder of this last week.

Let's start with a matrix of sorts. What you see below isn't universally true, but if you watch and record the daily price and open interest (OI) changes for Comex gold and silver, you'll soon see that it's about 90% accurate.

David Jensen: LBMA warns about gold counterfeiting, but not its own

Section: Daily Dispatches

By David Jensen
JensenDavid.Substack.com
Saturday, July 26, 2025

The London Bullion Market Association is warning us about counterfeit precious metals with this helpful recent article, "The Silent Risk: Counterfeiting in Precious Metals":

https://www.lbma.org.uk/alchemist/issue-117/the-silent-risk-counterfeiting-in-precious-metals

The LBMA's article contains nuggets such as this: 

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