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Daily Dispatches
Central banks enter the gold trade to choke off smuggling
Submitted by admin on Thu, 2026-01-01 00:11 Section: Daily DispatchesBy Leslie Hook
Financial Times, London
Thursday, January 1, 2026
In the African island nation of Madagascar, central bank governor Aivo Andrianarivelo has an unusual mission: to end gold smuggling.
Madagascar produces as much as 20 tonnes of gold per year, he estimates, worth about $2.8 billion at today's prices, but almost all of that leaves the country illegally, robbing state coffers of tax revenues and foreign exchange.
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Ethiopia moves to become Africa's next gold powerhouse with $340 million mine
Submitted by admin on Wed, 2025-12-31 15:54 Section: Daily DispatchesBy Solomon Ekanem
Business Insider, New York
Wednesday, December 31, 2026
Ethiopia's long-delayed Tulu Kapi gold project has reached a major turning point after securing about $340 million in development financing, clearing the way for construction of one of the country's largest modern gold mines.
The funding package includes roughly $240 million in long-term debt from African development lenders and about $100 million in equity, providing KEFI Gold and Copper, the project's developer, with the financial backing needed to move into full-scale construction.
Canada is a gold-export powerhouse, but how much is that helping the economy?
Submitted by admin on Wed, 2025-12-31 15:42 Section: Daily DispatchesBy Jason Kirby
The Globe and Mail, Toronto
Tuesday, December 30, 2025
https://www.theglobeandmail.com/business/article-canada-gold-exporting-powerhouse-economy-benefits/
Gold spurs Ghana's currency to first annual gain since at least 1994
Submitted by admin on Wed, 2025-12-31 10:40 Section: Daily DispatchesBy Moses Mozart Dzawu
Bloomberg News
Wednesday, December 31, 2026
Ghana's currency posted an annual gain against the dollar for the first time in more than three decades as Africa's biggest gold producer benefited from rising prices of the metal and the greenback's weakness.
Chinese mining companies in Zambia start paying taxes in yuan
Submitted by admin on Wed, 2025-12-31 10:32 Section: Daily DispatchesBy Matthew Hill and Taonga Mitimingi
Bloomberg News
Wednesday, December 31, 2025
Chinese mine operators in Zambia have started paying royalties and taxes in yuan in Africa's second-biggest copper producer, the latest sign of the growing acceptance of the currency on the continent.
Payments using the Chinese unit began in October, the Bank of Zambia said in reply to emailed questions today. The Zambian authorities are the first in Africa to confirm they are accepting mining-tax payments in renminbi.
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Charlie Garcia: China just nationalized silver without nationalizing a single mine
Submitted by admin on Wed, 2025-12-31 09:21 Section: Daily DispatchesBy Charlie Garcia
MarketWatch, New York
Tuesday, December 30, 2025
Silver prices got crushed on Monday. By Thursday it may not matter.
On Jan. 1 China's new export-licensing regime takes effect, putting government gatekeepers between 121 million ounces of annual silver exports and the rest of the world. That means 60%-70% of the globally traded refined supply will require Beijing's permission to leave the country.
As gold hits records, Indians opt for bars and coins over jewelry
Submitted by admin on Wed, 2025-12-31 00:45 Section: Daily DispatchesBy Rajendra Jadhav and Polina Devitt
Reuters
via The Straits Times, Singapore
Tuesday, December 30, 2025
For nearly two decades, Mumbai homemaker Prachi Kadam marked every festive season with a gold jewelry purchase, blending tradition with personal style.
2025's record rally in prices, however, led her to choose a 10-gram gold coin instead of necklaces or bangles.
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Futures exchange raises precious metal margin requirements for second time this week
Submitted by admin on Wed, 2025-12-31 00:23 Section: Daily DispatchesBy Yihui Xie
Bloomberg News
Tuesday, December 30, 2025
CME Group will raise margins on precious-metal futures for the second time in the space of a week following a volatile period of trading that saw prices spike then retreat.
Margins for gold, silver, platinum, and palladium contracts will increase after the close of business on Wednesday, the group said in a statement dated Dec. 30. The decision was made based on a review of "market volatility to ensure adequate collateral coverage," it said.
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Dollar on track for steepest annual drop for almost a decade
Submitted by admin on Tue, 2025-12-30 10:36 Section: Daily DispatchesBy Ian Smith
Financial Times, London
Tuesday, December 30, 2025
The U.S. dollar is heading for its steepest annual drop since 2017, with Wall Street banks predicting further weakness next year as the Federal Reserve presses ahead with interest rate cuts.
The greenback has slumped 9.5% against a basket of major currencies this year, after President Donald Trump's trade war sparked fears for the world's biggest economy and cast doubt over the dollar's traditional status as a haven for investors.
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Surging silver and gold slide after CME raises margin requirements
Submitted by admin on Mon, 2025-12-29 12:25 Section: Daily DispatchesFrom The Associated Press
via Yahoo News, Sunnyvale, California
Monday, December 29, 2025
NEW YORK -- Silver and gold futures fell sharply Monday after the Chicago Mercantile Exchange, one of the world’s largest trading floors for commodities, asked traders to put up more cash to make bets on precious metals with prices surging this year.
This year, gold futures are up 65% and silver has more than doubled.
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