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Daily Dispatches
Dollar-obsessed Argentines have a new love for buying gold instead
Submitted by admin on Wed, 2025-06-11 09:25 Section: Daily DispatchesBy Ignacio Olivera Doll
Bloomberg News
Wednesday, June 11, 2025
Gold is winning over the hearts of Argentines, a nation once almost irrationally devoted to the dollar.
Argentina's deep-rooted reliance on the greenback -- the country ranks among top holders of the U.S. currency, according to estimates by economists and former central bank officials -- is now being challenged by a growing appetite for gold. From bullion and small bars to exchange-traded funds, Argentines are increasingly turning to the precious metal as an alternative store of value.
Gold overtakes euro as global reserve asset, ECB says
Submitted by admin on Wed, 2025-06-11 08:46 Section: Daily DispatchesBy Olaf Storbeck and Leslie Hook
Financial Times, London
Wednesday, June 11, 2025
Gold has overtaken the euro as the world's second most important reserve asset for central banks, driven by record purchases and soaring prices, according to the European Central Bank.
Bullion accounted for 20% of global official reserves last year, outstripping the euro's 16% and second only to the U.S. dollar at 46%, data from an ECB report published today showed.
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Ironic: Dollar-enforcer IMF wants to put Zimbabwe on a de-facto gold standard
Submitted by admin on Tue, 2025-06-10 10:19 Section: Daily DispatchesIMF Wants Zimbabwe's Gold-Backed ZiG to Become Sole Currency
By Ray Ndlovu
Bloomberg News
Monday, June 9, 2025
The International Monetary Fund said it would like to see the ZiG "fully becoming a national currency" as it weighs whether to place Zimbabwe on a staff-monitored program.
The ZiG, short for Zimbabwe Gold, succeeded the Zimbabwean dollar in April 2024 after multiple crashes. It's the country's sixth attempt since 2009 to replace the dollar as the southern African nation’s main transacting currency, but is yet to succeed.
Banks' gold traders reaped $500 million as tariff panic set in
Submitted by admin on Mon, 2025-06-09 22:30 Section: Daily DispatchesBy Jack Ryan and William Shaw
Bloomberg News
via Fortune, New York
Monday, June 9, 2025
Precious metals traders at top banks including JPMorgan Chase & Co. and Morgan Stanley posted their best performance in five years in the first quarter, in part thanks to an arbitrage opportunity that sparked a rush of bullion into the U.S.
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Silver is going up so get your GATA commemorative silver round while it's still cheap
Submitted by admin on Sun, 2025-06-08 21:12 Section: Daily Dispatches9:16p ET Sunday, June 8, 2025
Dear Friend of GATA and Gold:
If helping GATA defeat monetary metals price suppression isn't quite enough of a reason for you to support us financially, there's another one.
That is, silver shows signs of breaking out as gold already has done and donations of $250 or more entitle donors to a 1-ounce silver round commemorating GATA's work. Bbefore long your GATA silver round may pay for itself.
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Weekend edition of Ed Steer's Gold and Silver Digest posted at SilverSeek
Submitted by admin on Sun, 2025-06-08 20:20 Section: Daily Dispatches8:20p ET Sunday, June 8, 2025
Dear Friend of GATA and Gold:
The weekend edition of GATA board member Ed Steer's Gold and Silver Digest letter, headlined "COT Report: The Big 8 Shorts Took the Bullet," is posted in the clear at SilverSeek here:
https://silverseek.com/article/cot-report-big-8-shorts-took-bullet
Jim Rickards: The truth about Fort Knox and gold leasing
Submitted by admin on Sun, 2025-06-08 17:58 Section: Daily DispatchesIt's the issue that can't be discussed without exploding the (corrupt) world financial system.
* * *
By James G. Rickards
The Daily Reckoning, Baltimore
Saturday, June 7, 2025
Whatever happened to the Donald Trump and Elon Musk visit to Fort Knox?
You'll recall the buzz from earlier this year. Trump and Musk loudly announced they were going to visit the U.S. bullion depository at Fort Knox, Kentucky, to make sure the U.S. gold was actually there. The press was invited to tag along.
Michael Lynch: Comex's biggest silver short is suddenly absent ... and silver breaks out
Submitted by admin on Sat, 2025-06-07 15:13 Section: Daily DispatchesBy Michael Lynch
Econanalytics.Substack.com
Saturday, June 7, 2025
In Comex silver trading this week 684 new contracts (3.4 million ounces) were written and 704 delivery notices were issued. News flash: NONE of those delivery notices were from the HSBC "customer" account that I have been calling out for more than a year.
New York Sun: The logic of auditing America's gold
Submitted by admin on Sat, 2025-06-07 14:14 Section: Daily DispatchesFrom The New York Sun
Saturday, June 7, 2025
https://www.nysun.com/article/the-logic-of-auditing-americas-gold
The Sun is happy to endorse the legislation introduced in the House in respect of America's gold. The measure -- the Gold Reserve Transparency Act -- would create an audit of gold held at Fort Knox and other sites where America's monetary metal is supposed to be stored.
China's central bank extends gold-buying streak for seventh month
Submitted by admin on Sat, 2025-06-07 10:41 Section: Daily DispatchesFrom Bloomberg News
via The Edge, Petaling Jaya, Malaysia
Saturday, June 7, 2025
China's central bank expanded its gold reserves for a seventh straight month in May, furthering its bid to diversify holdings despite ongoing price fluctuations.
The People's Bank of China added 60,000 troy ounces of the metal to its reserves last month, taking the total to 73.83 million fine troy ounces, according to data released today.
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