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Daily Dispatches

U.S., Japan, South Korea hint at currency market intervention to stop dollar's rise

Section: Daily Dispatches

Dollar Rally Stalls After Rare FX Warning from Finance Chiefs

By Amanda Cooper
Reuters
Thursday, April 18, 2024

LONDON -- The dollar fell for a second day today after a rare warning by the finance chiefs of the United States, Japan, and South Korea over the sharp decline in other currencies, which in turn offered the yen some rare respite.

The yen got a modest lift after Japan's top currency diplomat Masato Kanda said finance leaders of the G7 reaffirmed their stance that excessive currency volatility was undesirable.

Toronto airport gold heist arrests include Air Canada staff as police recover little of the stolen metal

Section: Daily Dispatches

By Andy Takagi and Peter Edwards
Toronto Star
Wednesday, April 17, 2024

Two Air Canada employees and a Toronto jewelry store owner were among the inner group that plotted the theft of nearly $24 million in gold and cash from a storage unit at Pearson International Airport a year ago, police say.

Just $90,000 worth of the stolen gold has been recovered, police said at a press conference today, as they announced six arrests and three outstanding warrants on the one year anniversary of the massive heist.

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Here's why gold and silver miners seldom stand up for themselves and their investors

Section: Daily Dispatches

12:43p ET Wednesday, April 17, 2024

Dear Friend of GATA and Gold (and Silver):

In a brilliant essay GATA called to your attention yesterday, Money Metals Exchange CEO Stefan Gleason asked the compelling question: "When will gold and silver miners start believing in their product?"

Subscribe to The Calandra Report, make money, and help GATA

Section: Daily Dispatches

11a Wednesday, April 17, 2024

Dear Friend of GATA and Gold (and Silver and other metals):

Mining company shares are taking off as governments are issuing infinite money and incurring infinite debt, and Thom Calandra of The Calandra Report (at Thomcalandra.com) is connecting with newly subscribed GATA supporters and sharing with them his insights about producing gold and silver mines and gold and silver explorers in the Yukon, Quebec, Nevada, Mexico, Ghana, and elsewhere. 

Trump trade advisers plot devaluing dollar

Section: Daily Dispatches

By Gavin Bade
Politico, Washington
Monday, April 15, 2024

Economic advisers close to former President Donald Trump are debating ways to devalue the U.S. dollar if he is elected to a second term -- a dramatic move that could boost U.S. exports but also reignite inflation and threaten the dollar's position as the world's dominant currency.

Police to announce arrests in Toronto airport gold heist

Section: Daily Dispatches

By Joanna Lavoie
CTV, Toronto
Tuesday, April 16, 2024

Police say that arrests have been made in connection with a gold heist at Toronto Pearson International Airport one year ago.

The heist happened on April 17, 2023, and involved the theft of a "high-value container" from a holding cargo facility after it was taken off an Air Canada plane.

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Ambrose Evans-Pritchard: Gold is sniffing out monetary and geopolitical dystopia

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, April 16, 2024

A powerful force is stalking the world's gold market. It is operating in the shadows. 

None of the normal footprints are visible on the London bullion market or the Chicago Mercantile. Retail goldbugs have not been buyers: ETF gold funds have been shrinking since December. The crowd is piling into the Bitcoin scam instead.

Vietnam to probe gold traders for possible manipulation as prices soar

Section: Daily Dispatches

From Reuters
Tuesday, April 16, 2024

HANOI, Vietnam -- Vietnam's parliament has asked the government to investigate gold trading firms for possible market manipulation amid soaring domestic prices, state media reported today.

The price for gold bars in the Southeast Asian country has risen around 15% this year and hit a record high 85 million dong ($3,401.36) per tael on Friday.

A tael is equivalent to 37.5 grams or 1.21 troy ounces, and domestic prices for a tael are approximately $1,000 more than current global prices.

Stefan Gleason: When will gold and silver miners start believing in their product?

Section: Daily Dispatches

By Stefan Gleason, CEO
Money Metals Exchange, Eagle, Idaho
Tuesday, April 16, 2024

Miners spend billions of dollars every year pulling precious metals out of the ground. They toil mightily for years on end to produce these stores of value -- but then they turn right around and sell all their gold and silver immediately in exchange for fiat currencies.

If you stop to really think about it, this may seem strange.

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Gold banking accounts shine in South Korea as price of precious metal soars

Section: Daily Dispatches

By Yi Whan-woo
Korea Times, Seoul, South Korea
Tuesday, April 16, 2024

A growing number of bank clients are investing in gold using a deposit account that allows them to buy and sell the precious metal, whose price is surging due to heightened geopolitical risks and an increasing preference for safe haven assets.

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