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Daily Dispatches
1933 Double Eagle gold coin sells for record $18.9 million
Submitted by admin on Tue, 2021-06-08 14:27 Section: Daily DispatchesFrom Reuters
Tuesday, June 8, 2021
A 1933 Double Eagle gold coin sold for a record-setting $18.9 million at auction in New York on Tuesday, and the world's rarest stamp went for $8.3 million.
The coin, the only 1933 Double Eagle ever allowed to be privately owned, was expected to sell for between $10 million and $15 million at the Sotheby's auction.
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Ed Steer: No silver eagle sales for the last two months
Submitted by admin on Mon, 2021-06-07 22:17 Section: Daily Dispatches10:15p ET Monday, June 7, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's weekend commentary in his Gold and Silver Digest letter is headlined "No Silver Eagle Sales For the Last Two Months" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here;
https://silverseek.com/article/no-silver-eagle-sales-last-two-months
Perth Mint has some gold now, having bought King Henry, world's largest known gold specimen, for A$3 million
Submitted by admin on Mon, 2021-06-07 21:32 Section: Daily DispatchesBy Jarrod Lucasa
Australian Broadcasting Corp., Sydney
Tuesday, June 8, 2021
The world's largest-known gold rock specimen, dubbed King Henry after it was unearthed at a West Australian mine three years ago, has gone on permanent display after being sold to the Perth Mint for $3 million.
The 94-kilogram specimen is named after air-leg miner Henry Dole, who discovered the gold-encrusted rock half a kilometre below the surface at the Beta Hunt mine in Western Australia's Goldfields.
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Basel 3 already has demolished claims that central banks don't rig the gold market
Submitted by admin on Mon, 2021-06-07 17:19 Section: Daily Dispatches5:31p ET Monday, June 7, 2021
Dear Friend of GATA and Gold:
Many predictions are being offered about the impact of the "Basel 3" regulations on "unallocated gold" that have been proposed by the Bank for International Settlements and that the European Banking Authority has scheduled for implementation in the European Union at the end of this month.
Pam and Russ Martens: The Wall Street-captured Fed consolidates its power under Biden
Submitted by admin on Mon, 2021-06-07 11:19 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, June 7, 2021
Janet Yellen, the current U.S. Treasury secretary, is also the chair of the Financial Stability Oversight Council, which includes every Wall Street regulator. Before coming to the Treasury Department, Yellen was the chair of the Federal Reserve and had spent the bulk of her working career at the Fed or the San Francisco Fed.
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Basel 3's approach tightens gold supply in London, trader Maguire says
Submitted by admin on Fri, 2021-06-04 22:46 Section: Daily Dispatches10:43p ET Friday, June 4, 2021
Dear Friend of GATA and Gold:
Central banks in Russia, China, and other countries are increasing their competition for physical gold in the London market as the implementation of the Basel 3 regulations on "unallocated" gold draws near, bullion trader Andrew Maguire says in his weekly interview with Shane Morand for Kinesis Money.
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Barrick CEO hopes Papua New Guinea gold mine will restart this year
Submitted by admin on Fri, 2021-06-04 17:55 Section: Daily DispatchesFrom Reuters
via Yahoo News, Sunnyvale, California
Friday, June 4, 2021
TORONTO -- Barrick Gold Corp. Chief Executive Mark Bristow said today he hoped the Porgera gold mine in Papua New Guinea could restart this year, after holding talks with PNG Prime Minister James Marape and local landowner groups.
Under an agreement reached in April, the PNG government took a 51% share in the mine, ending a year-long standoff with operator Barrick Niugini Ltd. (BNL), whose lease Marape had refused to renew.
If bullion banks are trading for governments, their nominal cash losses don't matter
Submitted by admin on Fri, 2021-06-04 17:33 Section: Daily Dispatches5:40p ET Friday, June 4, 2021
Dear Friend of GATA and Gold:
Alasdair Macleod's weekly gold market report for GoldMoney concludes today that the bullion banks are having trouble closing their short positions on the New York Commodities Exchange and that their attack on the metal this week did not help them much, since "managed money" traders did not substantially increase their long positions.
So the banks, Macleod writes, are "deepening their losses" in gold futures.
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Ronan Manly: Central banks operate in stealth at the heart of London gold market
Submitted by admin on Thu, 2021-06-03 19:08 Section: Daily Dispatches7p ET Thursday, June 3, 2021
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly today notes that the purpose of the London gold market is to conceal everything important that happens in it so as to facilitate surreptitious control of the gold price by central banks using imaginary gold.
Alasdair Macleod: The geopolitics of gold
Submitted by admin on Thu, 2021-06-03 15:16 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, June 3, 2021
A number of events are coming together that are set to push gold prices higher.
Besides a combination of continuing inflationary policies and massive future budget deficits undermining the dollar, by closing down derivative market activities new Basel 3 regulations appear set to deflect some demand into physical metals. Furthermore, liquidity in gold markets will contract, potentially making prices more volatile
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