You are here

Daily Dispatches

Sibanye Stillwater says AngloGold and Gold Fields fit its acquisition strategy

Section: Daily Dispatches

By Felix Njini
Blooomberg News
via Yanoo News
Monday, March 8, 2021

Sibanye Stillwater Ltd. said Johannesburg-based gold miners AngloGold Ashanti Ltd. and Gold Fields Ltd. would both fit with the company's acquisition strategy.

"They fit into the category of gold producers we have publicly been saying we are looking at," said James Wellsted, a spokesman for Sibanye. He declined to say whether Sibanye was preparing to make an offer for either company.

.... Dispatch continues below ....

Dave Kranzler: Gold price manipulation, money printing, and inflation

Section: Daily Dispatches

By Dave Kranzler
Investment Research Dynamics, Denver
Monday, March 8, 2021

The sharp selloff in gold and silver these past two weeks has taken many by surprise, including me, especially given the growing shortage of physical gold and silver. 

Make no mistake, the majority of the price decline in both metals has taken place in the paper derivative trading in London and New York. We subscribe to John Brimelow's Gold Jottings report. It's expensive but contains valuable data on the Indian, Chinese, Turkish, and Vietnamese gold market on a daily basis.

Sprott's PSLV prepares to buy as much as $3 billion more silver

Section: Daily Dispatches

11:32a ET Monday, March 8, 2021

Dear Friend of GATA and Gold:

GoldSeek's companion site, SilverSeek, reports today that the Sprott Physical Silver Trust (PSLV), an exchange-traded fund that holds real metal and, unlike other silver ETFs, allows smaller investors to redeem their shares for real metal, is preparing to issue as many as $3 billion in new shares over the next two years if there is investor demand for purchasing that much metal:

Cambodia aims to reduce dependence on U.S. dollar

Section: Daily Dispatches

By Luke Hunt
Voice of America, Washington
Sunday, March 7, 2021

PHNOM PENH, Cambodia -- The National Bank of Cambodia, the country's central bank, is aiming to reduce the country's dependence on the U.S. dollar with the introduction of digital currencies and the phasing out of small-denomination U.S. currency -- $1, $2, and $5 bills -- in favor of the local currency, the riel.

Hyperinflation pushes Venezuela to print million-bolivar bills

Section: Daily Dispatches

By Patricia Laya and Nicolle Yapur
Bloomberg News
Friday, March 5, 2021

Venezuela said today it will introduce new large-denomination bolivar notes as hyperinflation renders most bills worthless, forcing citizens to turn to the U.S. dollar for everyday transactions.

Bullion banks massively cover gold futures shorts, GoldMoney's Macleod tells KWN

Section: Daily Dispatches

10:40a ET Monday, March 7, 2021

Dear Friend of GATA and Gold:

Bullion banks massively covered short gold futures positions last week as hedge funds sold most of their long positions, GoldMoney research director Alasdair Macleod tells King World News. He says the banks likely will continue covering shorts this week. 

Macleod adds that Federal Reserve banking rules seem to be about to force banks to impose negative interest rates on their biggest customers.

Macleod's comments are posted in text along with an audio interview at KWN here:

Ted Butler: Silver investors should put questions to CFTC members

Section: Daily Dispatches

10:20a ET Monday, March 8, 2021

Dear Friend of GATA and Gold:

In his new essay at SilverSeek, "A Time to Act" --

-- silver market analyst Ted Butler urges silver investors to write to the U.S. Commodity Futures Trading Commission about the huge concentrated short position in silver futures.

Anyone taking the trouble might add a few of questions:

GATA's internet site undergoes maintenance tonight and this weekend

Section: Daily Dispatches

11:28a ET Friday, March 5, 2021

Dear Friend of GATA and Gold:

Starting at 6 p.m. U.S. Eastern time today, GATA's internet site will undergo maintenance and updating. The site may be inaccessible until Monday morning and dispatches likely will cease until then. Your secretary/treasurer still should be reachable by e-mail. Please forgive any inconvenience.

Jan Nieuwenhuijs: Why the gold price is sinking

Section: Daily Dispatches

10:58a ET Friday, March 5, 2021

Dear Friend of GATA and Gold:

Gold researcher Jan Nieuwenhuijs of the Gold Observer argues today that the gold price has been falling because of a rising interest rate on U.S. Treasury bonds but that the Federal Reserve eventually will push real interest rates to negative levels, boosting gold.

U.S. freezes Myanmar's billion at New York Fed

Section: Daily Dispatches

By Simon Lewis and Humeyra Pamuk
Thursday, March 4, 2021

WASHINGTON -- Myanmar's military rulers attempted to move about $1 billion held at the Federal Reserve Bank of New York days after seizing power on Feb. 1, prompting U.S. officials to put a freeze on the funds, according to three people familiar with the matter, including one U.S. government official.