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Daily Dispatches

GoldSeek Radio's Waltzek interviews GATA Chairman Murphy as metals rise

Section: Daily Dispatches

11:25a ET Tuesday, December 13, 2022

Dear Friend of GATA and Gold:

GoldSeek Radio's Chris Waltzek today interviews GATA Chairman Bill Murphy, who explains why he sees the monetary metals sector turning upward and cryptocurrency investors gaining interest in the metals. The interview is 11 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:

https://silverseek.com/article/goldseek-radio-nugget-bill-murphy-and-away-gold-and-silver

Kranzler and Lundin see gold breaking its chains

Section: Daily Dispatches

5:40p ET Monday, December 12, 2022

Dear Friend of GATA and Gold:

While today has not been a great day for gold, Dave Kranzler of Investment Research Dynamics in Denver and Brien Lundin, editor of Gold Newsletter and the Golden Opportunities letters, see the monetary metal starting to rise as other assets fall.

Kranzler's analysis is headlined "The Precious Metals Sector May Have Started a Sustainable Bull Cycle" and it's posted here:

Crypto investors withdraw record amounts from exchanges

Section: Daily Dispatches

By Nikou Asgari
Financial Times, London
Sunday, December 11, 2022

Investors are pulling record levels of bitcoin from crypto exchanges as the collapse of Sam Bankman-Fried's FTX stirs fears over the safety of their assets.

FTX, once the darling of the crypto industry, filed for bankruptcy protection in mid-November after an $8 billion hole emerged in its balance sheet.

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Gold-buying mania in Egypt as national currency loses value

Section: Daily Dispatches

From Middle East Eye, London
Saturday, December 10, 2022

Egyptians are hoarding as much gold as they can, trying to protect their savings, as their national currency continues to lose value against foreign currencies.

The stampede for gold has raised its price in the local market sharply, enticing specialists to warn against what might turn into a gold price bubble.

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China boosts yuan in energy markets as Xi ends Saudi visit

Section: Daily Dispatches

By Teddy Ng
South China Morning Post, Hong Kong
Saturday, December 10, 2022

China pledged to step up development aid and ramped up its efforts to promote the use of the Chinese yuan in energy markets as Chinese President Xi Jinping wrapped up his trip to Saudi Arabia.

Beijing also offered to train 1,500 police and cybersecurity officials as part of its efforts to expand security cooperation and to increase the Gulf states' participation in Chinese space projects.

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Deutsche Bank seeks to rejoin key gold trading club in London

Section: Daily Dispatches

By Eddie Spence and Steven Arons
Bloomberg News
Friday, December 9, 2022

Deutsche Bank has applied to rejoin the London Bullion Market Association -- the world's foremost standard setter for gold trading -- as the German lender seeks to expand its trading unit.

The LBMA application "brings us into line with other banks that offer precious metal services," Deutsche Bank said in a statement today. "It reflects the careful growth of our precious metals business in recent years, and growing client demand for our services."

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Ex-JPMorgan gold trader found guilty in spoofing trial

Section: Daily Dispatches

By Joe Deaux and Kim Chipman
Bloomberg News
Friday, December 9, 2022 

Former JPMorgan Chase & Co. gold and silver trader Christopher Jordan today was convicted of wire fraud affecting a financial institution by a federal jury in Chicago, the latest win for U.S. prosecutors in their crackdown on illegal "spoofing" trades and market manipulation.

Alasdair Macleod: The debate between gold and bitcoin in 2023

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Friday, December 9, 2022

The FTX scandal has thrown the future of cryptocurrencies into doubt. Supporters of bitcoin, which has proved to be remarkably robust at a time when the whole cryptocurrency ecosystem is threatened by scandal and systemic collapse, are still asserting that it is the future money.

Gold hits record in Pakistan as economic woes spur buying frenzy

Section: Daily Dispatches

By Faseeh Mangi and Ismail Dilawar
Bloomberg News
Wednesday, December 7, 2022

Gold prices in Pakistan surged to a record as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic conditions will deteriorate further.

China reveals gold buying after quarter of mystery purchases

Section: Daily Dispatches

This is so silly and pathetic. How much gold did Chinese state banks and other enterprises purchase in the last three years, holding it off the books of the People's Bank of China? None? Does Bloomberg really think that China (or any rival of the United States) will be honest about its gold investories with the International Monetary Fund, the compiler of official gold reserve data and an instrument of U.S. dollar imperialism? At least Bloomberg could raise the question of unreported gold purchases by Chinese state agencies -- if the news agency ever wanted to get real. 

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