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The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, www.lemetropolecafe.com.
Latest News
By David Marino and Yvonne Yue Li
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, December 7, 2025
Silver and copper have replaced gold as the hot metal trade heading into 2026, with institutional and retail traders positioning for record rallies.
Silver has nearly doubled this year, with most gains occurring in the past two months due to a historic supply squeeze in the benchmark London market amid surging demand from India and silver-backed exchange-traded funds. While that crunch has eased in recent weeks as more metal is shipped to London vaults, other markets have seen supply constraints: Chinese inventories are at decade lows.
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The silver rally has seen higher volatility, said Ed Meir, an analyst with Marex Group Inc. "If you look at the chart, there's been a steeper parabolic move up than seen in previous rallies. The buying is much more concentrated, and in a much shorter time frame."
Silver has outpaced gold of late. Since bullion hit a record on Oct. 20, it has moved mostly sideways, while silver has gained more than 11% to a fresh record and copper has climbed almost 9%. ...
... For the remainder of the report:
https://finance.yahoo.com/news/silver-copper-eclipse-gold-top-143000841.html
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
11:47p ET Saturday, December 6, 2025
Dear Friend of GATA and Gold:
GATA consultant Robert Lambourne reported today that gold swaps undertaken by the Bank for International Settlements, the central bank of the central banks and a broker for them in the gold market, fell markedly in November, from 54 tonnes in October to 39 tonnes.
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The information can be calculated from the bank's monthly statement of account for November, published this week:
https://www.bis.org/banking/balsheet/statofacc251130.pdf
The decline in swaps implies that the BIS was not recruited to intervene as much in the gold market in November on behalf of its member central banks and that there continues to be little interest among them in incurring more gold liabilities or in letting their metal get far from home.
The report written by Lambourne on July 1 --
https://www.gata.org/node/23935
-- provides some history on the swap transactions and their volatility since the bank in 2010 adjusted its public accounting to make it possible for its gold swaps to be calculated, though the swaps are still not reported plainly by the bank.
As recently as January 2022 the bank's swaps exceeded 500 tonnes but they have fallen sharply since, indicating a change of policy toward or outlook on gold, a trend that seems to have correlated with increasing central bank acquisitions and repatriations, along with gold's rising price.
Nevertheless, the BIS has a well-placed confidence that no mainstream financial news organization will ever ask it to explain the purposes of the swaps and to identify the parties to them, lest gold cease being the immensely powerful secret knowledge of the financial universe.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
From Gold to Oil: 8 African Countries Sitting on Untapped Natural Resources
By Olamilekan Okebiorun
Business Insider, New York
Friday, December 5, 2025
Africa is home to some of the world's richest natural resources, yet many of its reserves remain largely untapped.
From bauxite and copper to gold, uranium, and oil, these resources hold enormous potential to transform economies, attract foreign investment, and position the continent as a key player in the global supply of minerals and energy.
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Some African nations such as the Democratic Republic of the Congo, Nigeria, Ghana, and South Africa are globally recognised for their resource production.Hhowever, several other countries are sitting on significant wealth that has yet to be fully exploited.
According to data from World Population Review 2025, Africa'’s resource endowment is extensive and diverse. Although certain countries have managed to convert these assets into measurable economic gains and increased investor confidence, many others still struggle to unlock the value of their reserves due to persistent governance challenges, insecurity, and inadequate infrastructure. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Yihui Xie
Bloomberg News
Saturday, December 6, 2025
China's central bank added to its gold reserves for a 13th straight month, according to data released today.
Bullion held by the People's Bank of China rose by 30,000 troy ounces last month, bringing the total to around 74.12 million troy ounces. The current buying cycle began in November 2024.
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Gold has consolidated above the $4,000-an-ounce mark after pulling back from a peak in October and remains on track for its best year since 1979. Rising expectations that the Federal Reserve will cut borrowing rates at its Dec. 9-10 meeting are supporting the metal, while the market is also expecting the next Fed chair to take a more dovish approach to monetary policy. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Chinedu Okafor
Business Insider, New York
Friday, December 5, 2025
... As a result of the mineral's impressive performance all year round, markets in Africa are reacting significantly, including the seizure of mines in the Sahel region, and very recently, the construction of a new rare underground gold mine in South Africa.
The new underground mine is the first the country has built in 15 years.
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West Wits Mining Ltd. put up an event for the launch of the mine at the company's Qala Shallows site on the outskirts of Johannesburg.
The Australia-listed company is constructing a 30,000-ton stockpile after bringing its first ore to the surface in October.
The new mine promises $90 million in annual revenue, with a production capacity of 70,000 ounces in the same period. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Edward Chancellor
Reuters
Friday, December 5, 2025
LONDON -- Assets that rise rapidly above their long-term trend are usually set for a fall. That's what happened to gold after it peaked in late 1979. Over the following five years, the price of the yellow metal fell by nearly two-thirds.
This year, gold has risen more than 60% in dollar terms, its best performance in 46 years. Adjusted for inflation, gold has never been more expensive. Either we are witnessing another bubble or it's a paradigm shift.
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The precious metal known as the eternal store of value has retained its purchasing power over millennia. On examination, its market valuation tends to reflect different monetary regimes. ...
... For the remainder of the commentary:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Jarrod Lucas
Australian Broadcasting Corp., Sydney
Friday, December 5, 2025
A prospector who amassed a fortune in Western Australia's mining industry after pegging ground covering some of Kalgoorlie's richest gold mines has no plans to sell large stockpiles of the metal being stored at the Perth Mint.
Anton Billis, also known as Anthony, is a one-time bankrupt who remains a reclusive enigma in the resources sector.
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The 81-year-old is managing director of ASX-listed gold miners Tribune Resources and Rand Mining, which own a combined 49 per cent stake in the rich East Kundana joint venture.
The Croatian-born prospector's combined shareholding in Tribune and Rand was this week worth about $141 million.
Since 2005, the companies' combined share of production from Kalgoorlie mines such as Raleigh, Rubicon-Hornet and Pegasus has topped 1.33 million ounces -- a big chunk of which has been stockpiled at the mint. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Amir Vahdat and Jon Gambrell
Associated Press
Thursday, December 4, 2025
TEHRAN, Iran -- When it comes to financial security for Iran's jittery public after the 12-day war with Israel, all that glitters is gold -- and for many it remains the most trusted hedge against inflation, sanctions, and a weakening rial currency.
Traders in Tehran's Grand Bazaar say every new headline about United Nations "snapback" sanctions, the rial's fall, or renewed regional tensions have sent waves of people into buying "value-preserving assets. Those include dollars, gold, silver, diamonds, cryptocurrencies, and, to a lesser extent, equities.
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Such portable wealth can hold value when local assets depreciate -- and be easily carried in case of a crisis, something on Iranians' minds for months as many fear another war with Israel breaking out.
Mansour, a 28-year-old gold and jewelry merchant in the bazaar, said he had never seen such demand. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $300 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
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