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GATA - Gold Anti-Trust Action Committee
Manchester, Conn.

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.

GATA - Gold Anti-Trust Action Committee is not verified as a 501(c)3 organization.

Latest News

Nov 28, 2025

It hasn't been "natural" for decades. What's new is that many governments and central banks recently have changed sides on gold.

* * *

7:59p ET Thursday, November 27, 2025

Dear Friend of GATA and Gold:

In excellent commentary today GoldCore's Jan Skoyles notes that demand for gold has become "inelastic" and the metal's price isn't 'natural' anymore because many governments and central banks have decided to increase their reserves irrespective of price to insure themselves against the ever-more-apparent failings of the international financial system they helped to create.

... Dispatch continues below ...


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Accordingly, Skoyles says, determination of the monetary metal's price is not the natural consequence of ordinary market supply and demand. Indeed, GATA would add, it has been decades since ordinary market forces determined the gold price, since before governments and central banks began deciding that they needed more metal at any price, they were largely cooperating in a policy of knocking gold's price down to protect the very financial system in which they now have lost faith, a policy documented and explained here --

https://www.gata.org/node/20925

-- and here:

https://www.gata.org/node/24226

Skoyles' commentary is 14 minutes long and can be heard at YouTube here:

https://www.youtube.com/watch?v=2Rh8GXDUH6c

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 27, 2025

By Clyde Russell
Reuters
Thursday, November 27, 2025

Silver may be viewed as something of a bridesmaid to gold in precious metal markets, seemingly overshadowed by its more talked-about rival.

But silver is quietly outperforming gold in generating returns to investors and perhaps has a more compelling long-term outlook given a structural supply deficit and surging demand from renewable technologies such as solar panels.

... Dispatch continues below ...


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Spot silver has been in a sustained uptrend since October 2023, leaping by 163% from a low of $20.67 an ounce on October 3 of that year to a record high of $54.38 on November 13.

It has since retreated 5.6% to close at $51.33 an ounce on Wednesday.

Spot gold rose by 142% from a low of $1,813.90 an ounce on October 3, 2023 to a record of $4,381.21 on October 20, before retreating 5.0% to close at $4,163.51 on Wednesday.

While silver hasn't massively outperformed gold, its stronger gains have come without the high media profile assigned to perhaps the more glamorous of the two precious metals. ...

... For the remainder of the commentary:

https://www.reuters.com/markets/commodities/silver-quietly-outperforms-gold-precious-metal-podium-2025-11-27/

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 27, 2025

From the Sound Money Defense League
via Money Metals News Service, Eagle, Idaho
Tuesday, November 25, 2025

The 2026 Sound Money Index, released today, reveals that Wyoming, Idaho, and Missouri are now the most pro-sound money states in the United States.

Money Metals Exchange, a top national precious metals dealer, has partnered once again with the Sound Money Defense League to create this authoritative ranking of all 50 states. In the face of rising inflation and monetary insecurity, the Sound Money Index ranks states based on their policies in this increasingly important arena.

... Dispatch continues below ...


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Wyoming remained in first place with its passage of S.F. 96 by Sen. Bob Ide, which put the Cowboy State on a path to building a gold reserve with a modest $10 million initial gold acquisition.

Notable movement on the Index this year includes Missouri's ascent from 23rd to third place, as well as Idaho's improvement from 14th in 2025 to second place in 2026. ...

... For the remainder of the report:

https://www.moneymetals.com/news/2025/11/25/wyoming-idaho-and-missouri-top-the-2026-sound-money-index-004505

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 25, 2025

China's Secret Gold Purchases Boost Price by 40%

By Inma Bonet and Guillermo Abril
El Pais, Madrid
Monday, November 24, 2025

The price of gold is hitting record highs, and according to market experts, China is one of the main unseen players behind this unstoppable surge -- for some, the most prominent. 

The precious metal has appreciated by more than 40% in 2025, reaching $4,380 per ounce in October, an absolute record -- although it has retreated in recent weeks -- amid a growing appetite among central banks to bolster their reserves with assets that are considered safe. 

... Dispatch continues below ...


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Despite this being a global trend, several analysts point particularly strongly to Beijing. They agree that the Asian giant appears to be acquiring far greater volumes of gold than it publicly declares, and that this additional demand, which goes unreported, is acting as one of the determining factors in the biggest gold rally in decades.

Independent reports paint a very different picture than the one offered by the official statements of the People's Bank of China, the central bank. The discrepancies in the figures, echoed by advisers at various international investment banks, fuel widespread suspicion that a significant portion of Chinese purchases goes unreported, part of a strategy to protect itself against geopolitical risks and reduce its dependence on the U.S. dollar and assets at a time of increasing international fragmentation. ...

... For the remainder of the report:

https://english.elpais.com/economy-and-business/2025-11-24/chinas-secret-gold-purchases-boost-price-by-40.html

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 25, 2025

Gold Loan Boom: 3,000 New Branches to Open in India in 12 Months

By Atmadip Ray
The Times of India, Mumbai
Tuesday, November 25, 2025

KOLKATA -- India's gold loan market is set for a big boost with non-bank lenders planning to add about 3,000 branches in the next 12 months or so exclusively for lending against jewelery.

The market, dominated by state-owned banks, swelled 36% year-on-year to Rs 14.5 lakh crore at the end of September.

... Dispatch continues below ...


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The branch expansion, according to sectoral heads, is the biggest such annual exercise. Lenders are opening dedicated gold branches to tap the emerging opportunity as well as extending the secured loan product to their existing outlets.

"The demand for gold loans is rising like never before with many people failing to get unsecured micro loans are looking up to gold loan lenders to meet their fund requirement," George Alexander Muthoot, managing director of India's largest gold loan company Muthoot Finance, told The Times.

Microfinance companies have turned very selective following a severe asset quality stress in the sector.

This, along with higher gold loan prices, has made borrowing against jewelry a sought-after loan product for farmers and small traders looking for working capital. High prices translate into greater loan amounts. ...

... For the remainder of the report:

https://economictimes.indiatimes.com/industry/banking/finance/gold-loan-boom-3000-new-branches-to-open-in-india-in-12-months/articleshow/125549277.cms

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, $199, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 25, 2025

By Katarina Hoije and William Clowes
Bloomberg News
Tuesday, November 25, 2025

Barrick Mining Corp. has agreed to a 244 billion CFA francs ($430 million) settlement with Mali, as part of a deal to end a two-year dispute that shuttered one of the company's most important gold operations, according to people familiar with the matter.

Under the settlement, Barrick is due to pay 144 billion CFA francs within six days of signing the agreement with Mali's government, the people said, asking not to be identified because the matter is private. Another 50 billion CFA francs will come via VAT-credit offsets, while an installment of the same size was already paid last year, the people said.

... Dispatch continues below ...


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The Canadian company will regain operational control over the Loulo-Gounkoto complex and withdraw its arbitration claims against the West African country, Barrick said in a Monday statement. Mali, in turn, will drop its charges against Barrick and take legal steps to release four employees jailed during the dispute with the government. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2025-11-25/barrick-to-pay-mali-430-million-to-settle-gold-mine-dispute

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 24, 2025

By Divya Rajagopal and Portia Crowe
Reuters
Monday, November 24, 2025

Barrick Mining said today it had reached an agreement with Mali's government to resolve all their disputes over the Loulo-Gounkoto gold mining complex after two years, sending shares in the Toronto-listed company to a record high.

Reuters reported on Friday that Barrick and Mali had in principle agreed to resolve the dispute.

... Dispatch continues below ...


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The Canadian miner said in a statement it will drop the arbitration case against Mali at the World Bank dispute tribunal, and in return Mali will drop all charges against Barrick and its affiliates, release four employees from jail, and give operational control back to Barrick.

Mali has also agreed to extend Barrick's mine permit for an additional 10 years, and Barrick has agreed to sign the 2023 mining code, according to two people aware of the development. ...

... For the remainder of the report:

https://www.reuters.com/sustainability/sustainable-finance-reporting/barrick-mali-government-agree-resolve-gold-mine-dispute-2025-11-24/

* * *

See the 2025 New Orleans Investment Conference
In the Comfort of Your Own Home While Helping GATA

You get it all -- every presentation, every workshop, over 40 hours of recordings featuring the picks, predictions, and macro analyses of dozens of today's top experts, including Matt Taibbi, Rick Rule, Mike Maloney, Mary Katharine Ham, Danielle DiMartino Booth, Brent Johnson, George Gammon, Peter St. Onge, Viva Frei, Robert Kiyosaki, Peter Boockvar, Brien Lundin, Chris Powell, and many more.

Plus, get to know the conference's  sponsors through their presentations and exciting investment opportunities. On-demand access to all this invaluable content from the 2025 New Orleans Investment Conference, plus access to conference transcripts (once complete), is available to you for one low price, with a commission paid to GATA.

Please visit:

https://hp214.isrefer.com/go/2025noic/a37/

* * *

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:

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Donations of $250 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

Nov 23, 2025

By Leslie Hook, Alan Livsey, and Humza Jilani
Financial Times, London
Sunday, November 23, 2025

When John Thornton and Mark Bristow sealed the merger of Barrick Gold and Randgold Resources in 2018, creating then the world’s biggest gold miner, it was seen as one of the smartest deals in the sector.

Nearly seven years later, after a series of mis-steps at Barrick, the $64 billion company is under mounting pressure to restructure or split up, in effect unwinding the deal.

... Dispatch continues below ...


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The question of how the giant gold mining empire might be divvied up and who might buy its parts, particularly the massive Reko Diq project in Pakistan, has gripped a sector that is already reeling from record-high bullion prices and a wave of consolidation.

Activist investor Elliott Management has built a stake in the group worth at least $700 million, encouraged by reports that the board was considering a breakup. Other investors feel the same.

"Barrick has amazing assets, but in recent years the operating costs went up as much as the gold price, which wasn't great," said Alec Cutler, fund manager at Orbis Balanced Fund. A breakup could create value, he says, adding that the high-risk Reko Diq project in Pakistan has become a "distraction."

Despite the run-up in gold prices this year, Barrick's share price has lagged its rivals due to setbacks at its mine in Mali, three fatal accidents, falling gold production, and the perceived risks of Reko Diq.

A few hours after news of Elliott's stake broke, the company announced leadership changes to sharpen its focus on its valuable Nevada gold mines, including replacing its chief operating officer for North America and appointing a new chief development officer. Sources close to the company say the moves were long-planned. ...

... For the remainder of the report:

https://www.ft.com/content/7746f456-298d-4437-a249-2ab9cafe7d8a

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