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Daily Dispatches
With Musk's support and ETFs doubtful, silver is explosive, GATA chairman says
Submitted by admin on Tue, 2023-01-10 22:02 Section: Daily Dispatches10p ET Tuesday, January 10, 2023
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, remarks that silver as an investment is even more explosive now that multi-billionaire Elon Musk is promoting the monetary metal, especially as the major silver exchange-traded funds are falling under suspicion. The interview is 13 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:
First Quantum threatens to shut vast Panama copper mine over tax dispute
Submitted by admin on Tue, 2023-01-10 10:32 Section: Daily DispatchesBy Harry Dempsey and Michael Stott
Financial Times, London
Tuesday, January 10, 2023
First Quantum Minerals has threatened to close its vast copper mine in Panama if it fails to resolve a tax dispute that it says risks damaging the country's business-friendly reputation.
Panama has demanded that the Canadian group pay corporate tax of at least $375 million a year along with a profit-based mineral royalty of 12-16%, a steep rise on the $61 million FQM paid to Panama on a project that raked in $1.4 billion of gross profit in 2021.
Ted Butler: A special note about silver
Submitted by admin on Mon, 2023-01-09 19:38 Section: Daily DispatchesBy Ted Butler
Monday, January 9, 2023
For the first holiday-shortened trading week of the new year, gold turned in a very strong performance, ending higher by $40 (2.2%) while a late-day rally yesterday only resulted in silver narrowing its losses for the week to 18 cents (-0.7%).
As a result of silver's extreme relative underperformance, the silver/gold price ratio widened out by just over two full points to 78 to 1.
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Ed Steer: Shockingly low silver volume on Friday
Submitted by admin on Mon, 2023-01-09 19:30 Section: Daily Dispatches7:30p ET Monday, January 9, 2023
Dear Friend of GATA and Gold:
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Shockingly Low Silver Volume on Friday" and is posted in the clear at SilverSeek here:
https://silverseek.com/article/shockingly-low-comex-silver-volume-friday
Jan Nieuwenhuijs: Zoltan Pozsar, the four prices of money, and the coming gold bull market
Submitted by admin on Mon, 2023-01-09 17:23 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Monday, January 9, 2023
Over the past 100 years there has been a correlation between major equity bear markets, adjustments in one of the four "prices of money," and gold bull markets. If we let history be our guide, the current equity bear market is signaling a new gold bull market, supported by changes in the price of money.
Brien Lundin: As gold rises, mining shares are showing leverage to the price
Submitted by admin on Mon, 2023-01-09 13:13 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, January 9, 2023
In a Golden Opportunities letter last week, I resorted to my oft-used "Happy New Year" headline to highlight yet another early-year gold rally.
As I noted in that issue, gold often bottoms in mid-December and continues to rally well into a new year.
Why gold is the bright stuff for would-be sanctions busters
Submitted by admin on Mon, 2023-01-09 09:50 Section: Daily DispatchesA remarkably gold-friendly and LBMA-hostile commentary from the Financial Times.
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By Jonathan Guthrie
Financial Times, London
Monday, January 9, 2023
Experts joke that some Russian-mined gold in British vaults "is so old it has double-headed Imperial eagles stamped on it." Ownership shifted into non-Russian hands decades ago, they say. But investors are worried that Russian gold could be used for sanctions busting. The London Bullion Market Association is therefore registering it all.
China extends gold buying with fresh flows to central bank
Submitted by admin on Sat, 2023-01-07 11:23 Section: Daily DispatchesBy Sing Yee Ong
Bloomberg News
Friday, January 6, 2023
China reported an increase in its gold reserves for a second straight month, topping up holdings again after its first reported purchase in more than three years.
The People's Bank of China raised its holdings by 30 tons in December, according to data on its website today. This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons.
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New York Sun: Waiting for Republicans to address the money issue
Submitted by admin on Fri, 2023-01-06 16:08 Section: Daily DispatchesFrom the New York Sun
Friday, January 6, 2023
Craig Hemke at Sprott Money: A forecast for gold and silver in 2023
Submitted by admin on Thu, 2023-01-05 20:03 Section: Daily Dispatches8p ET Thursday, January 5, 2023
Dear Friend of GATA and Gold:
Writing at Sprott Money, Craig Hemke of the TF Metals Report gives his monetary metals forecast for 2023, predicting that the Federal Reserve will cause an economic recession in the United States by raising interest rates and then revert to "quantitative easing," sending the metals to record levels.
Hemke's analysis is headlined "One Step Beyond -- A Forecast for Gold and Silver in 2023" and it's posted at Sprott Money here:
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