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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
How a Chinese Gold Vault Network Could Bolster Yuan's Role
Julie Zhang
South China Morning Post, Hong Kong
Tuesday, August 25, 2026
China is building a global network of gold vaults and accelerating central bank reserve buying as part of efforts to promote the yuan's role in international trade, according to an S&P Global Ratings report today.
Firms such as Zijin Mining -- China's largest gold processor -- and Shandong Gold Mining were also expected to expand "faster than most of their global peers" after Beijing reclassified gold from a financial asset to a "strategic mineral" in 2025, the report said.
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"If you are trading in renminbi, there's always a question as to how you are going to use the renminbi," said Charles Chang, greater China lead for corporate ratings at S&P Global. "But if that renminbi is convertible to gold, then that's a potentially different picture. Gold is tradeable. It is usable in a lot of places."
The country's first offshore gold delivery vault was launched in Hong Kong last year under an agreement with the Shanghai Gold Exchange (SGE), with Bank of China (Hong Kong) as the designated operator.
Alongside the launch, the SGE listed two new yuan-denominated gold contracts, which can be settled through either physical delivery or cash transfer.
Other cities under consideration for China's vault network included gold trading hubs such as Singapore, Kuala Lumpur, Dubai, Riyadh, and Moscow, the report said.
"The network offers connectivity to the world's largest physical gold market," Chang said. "It could also attract countries looking to diversify, onshore, or nearshore their gold storage to enhance control."
Alongside the launch, the SGE listed two new yuan-denominated gold contracts, which can be settled through either physical delivery or cash transfer.
Other cities under consideration for China’s vault network included gold trading hubs such as Singapore, Kuala Lumpur, Dubai, Riyadh and Moscow, the report said.
China's gold holdings had grown slowly and remained smaller as a share of official reserves, S&P Global data showed.
China's gold reserves ranked sixth globally, behind those of the U.S., France, Italy, Germany, and Russia, a position that Chang said pointed to "sentiment for further build-up through purchases or production" as international tensions and conflicts continued to escalate.
As of the end of July, China's gold reserves stood at 76.08 million ounces, marking the 21st consecutive month of accumulation.
Last year nine of the country's government departments, including China's top economic planning agency, the National Development and Reform Commission, published an industrial outline to improve the gold industry's security, capacity, operations, innovation, scale and mine resources, according to the report.
Backed by government support and strong domestic demand for gold bars and coins, Chinese gold miners have accelerated overseas mergers and acquisitions.
Zijin Gold International, a unit of Zijin Mining, acquired another two mines in the past year. The two facilities in Ghana and Kazakhstan have already become profitable, helping drive the company's first-half net profit up 179% year on year to US$1.45 billion in 2026.
It terminated a planned takeover of Canada's Allied Gold in late July, instead taking a 9.2% minority stake for about US$295 million, amid Beijing's tightening scrutiny of outbound overseas investments.
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By Emmanuel Bruce
Reuters
Tuesday, August 25, 2026
Ghana's GoldBod has ordered that artisanal gold dore purchased by self-financing aggregators for export must be refined locally from September 1, effectively banning exports of unrefined dore under those arrangements, according to a statement.
The directive is the latest step in GoldBod's tightening grip on Ghana's vast artisanal gold sector, mirroring a broader regional push to retain more value from mineral exports.
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Africa's top gold producer created GoldBod last year as the sole authorised buyer and exporter of artisanal gold, helping boost output and foreign currency inflows.
The directive, issued by GoldBod on Monday, states that no gold dore purchased under arrangements with approved off-takers may be exported in unrefined form from September 1.
All such gold must be refined at refineries approved or designated by the board before export applications are considered, GoldBod said. ...
... For the remainder of the report:
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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:
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Help keep GATA going:
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By Yihui Xie
Bloomberg News
Monday, August 24, 2026
A portfolio manager at Fidelity International Ltd. has doubled his fund's gold holdings over the past three weeks, citing increasing uncertainty over U.S. Federal Reserve policy as a catalyst.
After raising the proportion of bullion in the fund to a self-imposed limit of 5%, George Efstathopoulos said he would consider lifting this ceiling should the safe-haven status of the U.S. dollar continue its decline.
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He began his recent accumulation after the investor retreat from long-dated Treasury bonds that followed the Fed's July meeting.
"My translation of that is the lack of Fed credibility and more policy uncertainty," Efstathopoulos said in an interview today. ...
... For the remainder of the report:
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Wednesday-Saturday, October 28-31, 2026
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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:
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They haven't yet figured out that GLD is just unredeemable paper, easily revoked, seized, or frozen.
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Why Is Bank of Korea Buying Gold Again?
By Im Eun-byel
Korea Herald, Seoul
Sunday, August 23, 2026
After more than a decade, the Bank of Korea is back on a gold-buying spree, raising its exposure to the precious metal as it joins central banks around the world in diversifying their foreign reserves.
According to the BOK, the central bank currently holds 104.4 metric tons of gold, valued at $4.79 billion, or 1.1 percent of its total foreign exchange reserves of $427.36 billion at end-June.
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The relatively small share highlights the BOK's limited exposure to gold compared with other central banks. As of end-2025, the BOK ranked 39th among central banks worldwide in terms of gold holdings, according to the World Gold Council.
The central bank significantly increased its gold holdings between 2011 and 2013, but had not made any additional purchases over the following years after attacks from political circles when gold prices dipped.
But recent moves by the BOK suggest that the central bank is ready to increase its exposure to gold once again, signaling it is reassessing the role of gold in its foreign reserve portfolio.
While the BOK had traditionally built its gold holdings by purchasing physical gold, its latest steps mark a different investment strategy.
The BOK purchased 679,765 shares of the SPDR Gold Trust ETF in the second quarter, a U.S. Securities and Exchange Commission filing showed. The holdings were valued at $250.41 million, or about 354.5 billion won, at the end of June.
Unlike its previous purchases of physical gold, the latest investment gives the central bank exposure to gold through a financial asset rather than by directly holding the metal.
The BOK also plans to up stake in physical gold, but under a different playbook. ...
... For the remainder of the report:
https://www.koreaherald.com/article/10849098
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New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
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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 $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
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By Greg Ritchie, Denitsa Tsekova, and Isabelle Lee
Bloomberg News
via The Straits Times, Singapore
Friday, August 21, 2026
U.S. Treasury Secretary Scott Bessent's bid to tame U.S. borrowing costs knocked down long-term yields for barely a day. The more lasting market signal: The dollar weakened while gold and Bitcoin rallied, reinforcing a debasement trade fueled by swelling U.S. deficits and concerns over the direction of U.S. economic policy.
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The divergence exposed a deeper predicament. Washington wants cheaper money even as inflation remains a constraint on the Federal Reserve. And it comes just as governments and companies are competing more fiercely for capital, from large-scale public borrowing to the vast sums pouring into artificial intelligence.
The AI boom sits on both sides of that contest. Financing it adds another enormous claim on debt markets, while the profits investors expect it to generate are helping stocks withstand its rising cost.
With equities proving resilient, some of the anxiety over has instead surfaced elsewhere. ...
... For the remainder of the report:
* * *
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New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
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* * *
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 $500 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
Gold revaluation will do more for U.S. solvency than more debt and dollar devaluation
* * *
By Matthew Piepenburg
Von Greyerz / Gold Switzerland, Zurich
Sunday, August 23, 2026
As headlines from the Iranian "conflict" continue to leave the world guessing as to what, if any, military, political, and financial solutions lie ahead, we can at least know this much: The approaching autumn looks a bit scary.
The macro setting for our collective transition from summer to fall in 2026 is marked by rising yields across the western yield curve, from Paris to DC.
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These rising yields, which represent the cost of servicing debt for nations and enterprises (i.e. stocks) already in debt beyond the sustainability mark, are nothing less than flashing warnings of Uh-Oh ahead. ...
... For the remainder of the analysis:
https://vongreyerz.gold/gold-from-dcs-enemy-to-its-last-hope
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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 $500 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 Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Friday, August 23, 2026
If you live long enough, you're going to have some regrets.
Woulda, coulda, shoulda, as my dad was fond of saying.
The thing about regrets is that they were totally avoidable. That's why there are regrets. We made a bad decision, a questionable call, a wrong turn.
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But regrets aren't all bad. We can learn from them and avoid making the same mistake twice.
I say all of this because I ran across a story about regrets the other day.
One-third of adults in the UK regret not investing in gold in the past five years.
Thirty percent say they regret missing out on silver.
This is according to research conducted by the Royal Mint. ...
For the remainder of the commentary:
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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 $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
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By Stuart Englert
Stuart Englert's Substack
Friday, August 21, 2026
The U.S. dollar took a walloping this week after the U.S. Treasury announced it would double purchases of long-term U.S. debt instruments beginning next month.
In short, the federal government once again must buy back a larger portion of its own bonds to help finance the exploding national debt, which surpassed $40 trillion for the first time on Wednesday.
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Why is the federal government forced to buy back more of its own bonds and monetize its debt?
Because investor appetite and sentiment for U.S. debt is waning. Buyers aren't eager to gobble up the glut of new federal debt issues, at least at current yield rates.
If the American economy was booming and buyers thought U.S. bonds were a great long-term investment, the Treasury wouldn’t have to purchase its own debt instruments to reduce its borrowing costs, service its debts and fulfill its other financial obligations. ...
... For the remainder of the commentary:
https://stuartenglert.substack.com/p/its-the-debt-stupid
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
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 $500 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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