Member Info for goldgnome

Just another day at the races ...

https://www.youtube.com/watch?v=ZftyELsVbZY

yawn, scratch, repeat, deny everything and forget the rest .... LOL

Keep at the banks Somnamna, they deserve every fine they get!!!

One of the Big 4 Banks has just laid off 3,500 eployees on one hand and got a $240 million finein the other for rigging the bond market

“Time and time again, ANZ betrayed the trust of Australians,” .... the largest ever financial hit the corporate cop has delivered to a single entity.

There’s an $85 million penalty for unconscionable conduct relating to dodgy bond trading – the largest penalty for unconscionable conduct in Australian history.

There’s another $40 million for the submission of inaccurate data over almost two years, and ANZ’s failure to fess up to these inaccuracies with ASIC.

There’s $40 million for the failure to pay bonus interest on certain online savings accounts, and for displaying incorrect interest rates.

There’s $40 million for ANZ’s failure to meet its obligations in relation to the handling of customer hardship notices !

And finally, there’s $35 million for ANZ’s failure to meet its obligations around deceased estates !!

Not sure how low you can go but I will be cutting my ties with the ANZ bank tomorrow.

The only thing that concerns me is that the other banks in Oz are not a lot better!!! Maquarie have said they would manage all my money and only charge me 1% of all monies I hold with or through the banks (investments) regardless of whether any investments make any money or not (too good to reuse, and the bizarre thing is they seem to do a thriving business?)

24 September 2020 Westpac and AUSTRAC have today agreed to a 1.3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Westpac and AUSTRAC have agreed that the proposed penalty reflects the seriousness and magnitude of compliance failings by Westpac

Commonwealth Bank (CBA) was involved in a scandal involved systemic failures in anti-money laundering (AML) and counter-terrorism financing (CTF) laws, leading to a record $700 million fine in 2018 for AUSTRAC breaches, including late transaction reporting and inadequate monitoring of customers at risk of money laundering.

Then there is the NAB: Justice Derrington found ‘unjustifiably advanced its self interest whilst knowing that its customers were oblivious to the wrongful charging that was taking place. It deliberately and cynically took advantage of its customers’ unawareness, and was prepared to allow the overcharging to continue whilst it searched, admittedly in good faith, but without any great diligence, for a solution. Such moral dereliction would seem to reflect an inherent sense of entitlement, possibly precipitated by a view that no real harm would come to the bank even if its conduct was detected. It is, perhaps, also a product of a corporate culture that places a low priority on the observance of the law and on respect for its customers’ legal rights.’

USA Banks .... ethics left the

I have experienced something like this, but with bank transfers. To cut a long story short, I found my money was delayed due to "ïnterbank admin issues" but ... ended up on the short term money market in the mean time...if you get my gist...get some independent authorative ombudsmen to get a money trace done.

I got both payments in the far off penal colony to the extremelt far south a day or so ago... Are you sure your faciliators are not facilitating themselves or just plain incompetent

Well us$3,600 is now done, and $4,000 here we come. Thanks B Netanyahoo and your accomplice. There is banter about fiscal discipline (and so on and so forth), but what about social discipline, miltary discipline. Clearly there is no discipline on any account just a "movie" of endless distractions and never ending madness. France has thrown in the towell again, the UK is broke, and the USA is now obviously a state of Israel, and what a magnificent strategy to bomb Qatar? What was the desired end goal again?

Currency debasement is the only way governments can meet their debt obligations. Since about April, gold's been consolidating inside a four-month-long bullish consolidation pattern – never really sold off, no signs of any central bank selling – mostly investment funds not buying, but definitely not selling.

SPROTT: “Typically, you had such a good run in something like this, and it doesn't sell off, can't sell off, won't sell off, it's a sign of underlying strength and accumulation,” he said. “So that type of bullish pattern, when it breaks higher, tends to gap up, and this is the gap-up.”

“The target on the chart is about $3,900,” he added. “That's the immediate projection from that bullish breakout we're seeing right now.”

“You're seeing a big increase in the 30-year bond yield, virtually across all G7 countries, all the advanced economies,” he said. “And it's all driven by the same theme, just way too much debt, that's the bottom line. Bond markets are losing faith in governments to rein in spending and control debt levels. So what you also see is in the G7, the average two-year yields have been slowly heading down the last couple of years as most governments are trying to stimulate the economy and keep things going.”

The problem, however, is that there's now a great deal of potential inflation just beneath the surface. “You can see that in a number of areas,” he said. “The two-year swap breaks are carving up a big base; it’s breaking out. 10-year break-evens are also breaking out. So both on the shorter, two-year, and longer,10-year, inflation is rising.”

One of the smarter moves in the gold-royalty-crypto space in the last decade…!!!

TSX:ELE

Tether Increases Its Stake in Elemental Altus to Deepen Gold Strategy

• Tether will invest about $100M more in Elemental Altus Royalties, where it already holds 37.8%, and expects to close the deal in the fourth quarter.

• The move comes as gold hits a new all-time high above $3,550 an ounce, driven by expectations of U.S. rate cuts and inflation concerns.

• The company holds $8.7 billion worth of gold bars in a Swiss vault.

Tether is deepening its presence in the gold market with a new investment in Canada’s Elemental Altus Royalties Corp.

The USDT issuer plans to allocate around $100 million to buy additional shares of the company, which specializes in acquiring royalties and revenue streams from mining projects. According to filings from June, Tether already owned 37.8% of the firm, meaning this new deal would strengthen its role as a shareholder. The transaction still needs approval from Elemental Altus shareholders and is expected to close in the fourth quarter.

The investment comes at a time of surging demand for gold. The precious metal has climbed to a fresh record above $3,550 per ounce, fueled by expectations of U.S. interest-rate cuts and concerns over rising inflation. This backdrop has heightened attention on gold as a safe-haven asset and scarce resource, a narrative that Tether often links to Bitcoin, which it has described as “digital gold” due to its limited supply and use as a store of value.

Tether’s Gold Business

Elemental Altus Executive Chairman Juan Sartori said Tether’s injection of capital aligns with the company’s goal of expanding its exposure to the gold sector. At the same time, the Financial Times reported that Tether has held talks with several mining and investment firms to explore additional opportunities tied to gold mining, refining, trading, and royalties.

Tether has also built a sizable stockpile of physical gold. By the end of June, it held about $8.7 billion in gold bars stored in a Swiss vault whose location remains undisclosed. In addition, the company issues XAUT, a token fully backed by physical gold, which holders can redeem directly in Switzerland. According to official data, the total supply of XAUT currently stands at around $1.3 billion

Whats going on, ? Good to get more exposure to gold, less to the USD which is getting washed ...

the gnome

Giddy, just relax and invest more in gold, and gold miners with good margins, life could not have ever become as easy as this.

So sorry ... forget about futures, $3600 coming right up ...

A weak dollar and low interest rates is exactly what Trump wants and it looks like he will do near anything to get it. The Fed is under siege, and we see 600 eoconomists siding with their own to protect their own.

So almost by design expect the Gold price to keep going up, and test $4,000 Continuous gold futures on the New York Mercantile Exchange rose 0.8% to $3,543.80 a troy ounce in European midday trading on Monday, having reached as high as $3,557.10/oz earlier in the session. And now...Gold futures rise to a fresh record on safe-haven demand, mounting U.S. interest rate cut expectations and steady central bank purchases. Futures are up 1.8% at $3,578.10 a troy ounce, having risen as high as $3,580.30 earlier in the session.

Not entirely unrelated one might suspect in the" land of conflicts of interest are OK" The Trump family notched as much as $5 billion in paper wealth on Monday after its flagship crypto venture opened trading of a new digital currency.

The launch is akin to an initial public offering, in which the cryptocurrency, called WLFI, can now be bought and sold on the open market like a listed company’s shares. Beforehand, people who had privately bought WLFI from the Trump venture, World Liberty Financial, hadn’t been able to exchange their tokens.

The trading debut was most likely the biggest financial success for the president’s family since the inauguration (ever?) !!! The Trump family, including President Trump (of course, the King holds the trumps) himself, holds just under a quarter of all WLFI tokens in existence. Trump’s three sons are co-founders of World Liberty, while it names the president a “Co-Founder Emeritus.”..bless his soul? WLFI is likely now the Trumps’ most valuable asset, exceeding their decades-old property portfolio. While the president’s family has continued to pursue property deals around the world since taking office, the fast-moving crypto business has had the biggest early impact.

Escalating geopolitical tensions have further contributed to gold’s safe-haven appeal. A Russia-Ukraine peace deal remains elusive with both countries carrying out strikes on each other (and we wont mention the psychopaths in the middle east)?, while Germany and France push for secondary sanctions on nations supporting Russia’s invasion, including major buyers like China and India, analysts wrote. All this on the back of Russia, India and China doing some entertaining of each others interests LOL. Do they need the US? Like a hole in the head.

Interesting to look at the nations which have been accumulating gold the most in the last 2 decades, and who hold the most and you see China, Russia and India right up there!

Alls fun in love and (endless) war, Go Gold

just read the news, and the gold futures.... GC1! $3,599.2

the gnome

Great opportunity to be a winning contrarian.

What many do not clearly appreciate is the level of distrust that is growing with each

podcast... Distrust in governments. Distrust in what emanates from governments, which is currency or fiat money

Gold being its magnificent non creational and non destructional self is rising to the fore

Good luck to the FIAT PUNTERS

MY GUESS IS YOU WILL NEED IT

https://www.youtube.com/watch?v=iAcOJnyHTTk&list=PLYa964dzJh1J545AyFlLepb2Prert15te&index=3&t=2515s

THE USA DOES NOT KNOW WHAT IT IS DOING, NOR WHY, AND THE REST OF THE WORLD IS READING MEDIA REPORTS AND WE ALL KNOW HOW RELIABLE THEY ARE ... THE LATEST

The global gold market is breathing a sigh of relief on Friday afternoon after the White House denied yesterday’s shocking report that the United States has imposed import tariffs on gold bars from Switzerland.

A spokesperson for the Trump administration told media agencies on Friday that they would issue a new policy clarifying that imports of gold bars will not face tariffs.

After FT reported that a July 31 letter from U.S. Customs and Border Protection to a Swiss refiner claimed 1-kilogram and 100-ounce gold bars would be subject to costly tariffs – with Switzerland's recently announced 39% tariff rate among the highest the Trump administration has imposed – precious metals markets went into a panic.

The news drove Comex gold futures to a new all-time high of $3,534.10 shortly after 6 pm EDT, and sent spot prices rocketing through $3,400 per ounce. Industry experts were quick to say that while the initial market reactions were dramatic, the long-term impacts of the tariff ruling would reshape the global bullion market altogether.

But by Friday afternoon, the White House was characterizing the FT story as ‘misinformation’ and reassuring markets that gold was not slated for tariffs. Still, after a sharp yet brief selloff, the yellow metal managed to hold onto virtually all of its weekly gains.

At the time of writing, spot gold was trading at $3,394.91 per ounce for a gain of 3.15% on the weekly chart.

ENJOY YOUR WEEKEND, AVOID MAIN STREAM MEDIA, AND BET ON HORSE NUMBER 8 IN THE 5th RACE AT RANDWICK ON SATURDAY....LOL

THEY KNOW NOT WHAT GENIES THEY LET OUT OF THE BOTTLE...

Most-active gold futures settled at a new high in inflation-adjusted terms, breaking a record that dated back more than four decades.

In June 2025 dollars, the previous settlement record was set on Jan. 21, 1980, at the equivalent of $3,457.79, according to Dow Jones Market Data.

Most active gold settled at $3,491.30 today, a new record. Prices slipped after the settlement time when the White House said it would clarify its approach to tariffs on the precious metal.

The real-terms intraday record was set on the same day in 1980 at $3,619.48. Today's intraday peak was $3,534.20.

The U.S. has unexpectedly slapped tariffs on imports of some gold bars, a letter from U.S. Customs and Border Protection showed, roiling the market for the precious metal.

Why is this disruptive?

The global gold market uses futures traded on metals-trading exchange Comex to hedge its positions. That assumes metals can easily be imported to Comex warehouses in the U.S. to settle contracts if necessary, says UBS strategist Joni Teves.

"The tariff adds costs to this process, and with the bulk of refining capacity sitting in Switzerland, which faces 39% U.S. tariffs, these costs would be quite high," Teves wrote in a note to clients.

Will the decision stand?

Teves of UBS said the decision was surprising, given most Swiss gold imports to the U.S. had historically been tariff exempt, adding: "It therefore remains to be seen whether the ruling can/will eventually be amended."

How could the industry react?

It could change delivery standards, perhaps accepting other forms of gold, or allowing settlement in venues such as London, Teves said.

"Global supply chains may also try and adjust, with market participants finding ways to source from countries with zero tariffs or from the U.S., which is one of the top 10 gold-producing countries. Any response is likely to take time," she said.

Feel the deep love for gold...Gold futures are on track to eclipse their inflation-adjusted record set 45 years ago after it emerged the U.S. had imposed levies on Swiss gold bars.

The move is a fresh blow for Switzerland, a major refining hub, which this week failed to avert broader 39% levies on exports to the U.S.

Gold prices have risen for five of the past six days, boosted in part by hopes the Federal Reserve will soon cut interest rates in response to weakening economic data. Futures prices in New York neared $3,500 a troy ounce Friday.

ANGLOGOLD NOTE

AngloGold Ashanti plc AU delivered an impressive 111% increase in adjusted EBITDA to $1.4 billion in the second quarter of 2025. This was boosted by higher production volumes, cost discipline and elevated gold prices. The adjusted EBITDA margin expanded to 59% in the quarter from 50% in the year-ago quarter. In many industries, an EBITDA margin between 10% and 20% is considered solid, with anything above 20% seen as exceptional.

This followed an impressive first quarter, where adjusted EBITDA surged 158% to $1.12 billion. AngloGold Ashanti has generated a total of $2.56 billion in adjusted EBITDA in the first half of 2025. A key driver of this performance is the company’s Full Asset Potential Program, which has been driving cost efficiencies and insulating operations against inflation. The impact of this program was already visible in 2024, when adjusted EBITDA rose 93%, recovering from a 21% decline in 2023.

AngloGold Ashanti’s gold production was up 22% year over year to 1.52 million ounces in the first half of 2025. This was bolstered by contributions from the recently acquired Sukari Gold Mine in Egypt, along with improved performances at key assets, including Obuasi, Siguiri, Geita and Cerro Vanguardia. For 2025, AngloGold Ashanti projects gold production of 2.9-3.225 million ounces, indicating 9–21% growth over the prior year.

Higher production, the rally in gold prices this year and its ongoing cost control efforts position the company for further EBITDA gains in the months ahead.

NEWMONT has an EBITDA of about $3b and EBITDA MARGIN of 45%

AGNICO EAGLE has an EBITDA of about $1.9b and EBITDA MARGIN of 68%

These are all great businesses in this climate

Anglogold 12 months forward earnings multiple is 11.4 agaunst industry ave 12.9....? Upside to meet industry average when the compay is performing way above industry average? On November 2024, the forward 12-month P/E ratio for the S&P 500 was 22.2, HOT AIR IN SANDP ? ROOM TO.MOVE UP WITH GOLD MINERS

FOOD FOR THOUGHT

Key Points

Gold demand increased 3% year-over-year in the second quarter, driven by inflows into gold exchange-traded funds.

ETF inflows totaled 170 tons, fueled by trade policy uncertainty, geopolitical issues, inflation concerns, and rising gold prices.

Central bank gold demand slowed to 166 tons, while volumes of jewelry sold fell 14%, though consumer spending rose 21% in value.

Worth noting quietly

"Selling gold is a straightforward transaction for buyers who purchased gold-mining stocks or gold-equity mutual funds and exchange-traded funds. However, investors looking to sell physical gold bars and coins will have to find a buyer, and sellers of physical gold and ETFs backed by physical gold or gold futures face potentially higher tax bills than those selling gold-related stocks and funds that hold such stocks."

And

Gold futures rise after U.S. economic data came in softer than expected. Futures are up 1.6% at $3,402.30 a troy ounce. Nonfarm Payroll data showed just 73,000 jobs were added in July, below analyst expectations of 100,000. Even more suprising, revisions to May and June’s data revised jobs down by a huge 258,000, ING analysts say in a note. This highlights that the jobs market has lost momentum even earlier than thought and will intensify pressure from President Trump for the Federal Reserve to loosen monetary policy, ING says. With tariffs set to eat into household spending and corporate profits, the case for cutting interest rates has been significantly strengthened, ING says. Lower interest rates typically benefit non-interest bearing bullion.

A necessary weaker USD and interests rates nudging down the USA looks shakey. Trust shaken and stirred ... In gold we trust and well run gold mining companies who share profits with shareholders..I invest

Interesting reading from larger ETF VANGUARD on GOLD

https://www.vaneck.com.au/blog/gold/gold-miners-margins-matter/

Wouldnt you know it, another country government going down the wrong path.

Economic history suggests that most growth comes from small companies, and the most important aspect of small company growth is small banks and finance availability

Check out the economic history of the USA and Germany...

They had 000s of small banks when the nations growth increased significantly. Small banks best lend ti small companies. As a small company try going to a bug bank? Who employed most people? Where does the next big thing grow from

A windfall tax on big bank profits could bring in more than £11 billion - but it seems Rachel Reeves and Keir Starmer are too comfortable cosying up in bed with the big banks.

So shoulder-to-shoulder (literally!) with campaigners from The Equality Trust, Tax Justice UK, Green New Deal Rising, Make Them Pay, and War on Want, we came together to call on this Labour government to get out of bed with the banks and tax their windfall profits instead.

Pay attention. If the government can't things will get grimmer...good to put invest in gold and gold. Companiez...

Concerns over the politicisation of key American institutions has already sent the US dollar index tumbling 9 per cent this year against a basket of major currencies and nearly 5 per cent down against the Aussie...GOLD MINERS HAVE DINE VERY WELL

The Fed appointment combined with Trump’s firing of the head of the Bureau of Labor Statistics, Erika McEntarfer, after a weak US jobs report last week, has strategists warning that US assets, including the greenback and US Treasuries, are vulnerable to further sell-downs.

Levingston warned that there could be more US dollar damage in store because financial markets had yet to fully price in the erosion of the Fed’s independence.

This could be another catalyst for the GOLD to move higher AND SO TAKE YOUR POSITIONS

THE GNOME

Not a bad policy, sit and hold

Trust in money has been irreparably broken. Some of the exposes in the .

Last year are breathtaking, not to mention money deflating. I have 6 children and none believe in any of the governments capabilities to govern or manage economies without creating massive unfundable white elephants and/or entering into wars on arms sales or invasions of other countries, ...

The phrase "a first-rate country governed by second-rate people" is a well-known quote by Donald Horne, used in his 1964 book, "The Lucky Country," to describe Australia. It suggests that a nation with abundant resources and opportunities is being held back by the mediocrity of its leadership. The quote implies a disconnect between the potential of the country and the quality of its governance, and the quality of its money and credit....

The 2025 update now reads "a first-rate country governed by fourth-rate people"

So Gold, Crypto? (I remain old school, and think one day Dutch Tulips will look respectable), Agriculture, Land and solid businesses get their attention. Good cash flow, EBITDA, low debt, Good governance, ...

Anglo looks in a good position

What about the deal with Elon Mush, LOL

Anglogold is producing continuing impressive results, both in production, MandA and exploration. These are the 3 levers I watch with great interest.

"Free cash flow surged to $535 million, a 149% increase year-over-year, while headline earnings grew 151% to $639 million. Adjusted EBITDA more than doubled to $1.44 billion, representing a 111% increase from Q2 2024. The company maintained disciplined cost control despite inflationary pressures, with total cash costs for managed operations increasing by only 6% to $1,226 per ounce.

The company’s operational performance was supported by contributions from key assets, with the Sukari mine in Egypt being the largest contributor at 129,000 ounces.". consolidation of the Beatty District is smart and strategic. Obuasi up 30 % and plenty of brwonfields going on. Quiet on the greenfield but I am sure there are lots going on

Go for it

The Gnome

Why is Trump suggesting the US economy needs a 3 per cent rate cut when neither the market nor economic indicators agree? Dalio says it comes down to a fight over the value of money against the backdrop of America’s massive debt pile...which is getting larger by the minute despite Musk's and other super women and men?

“When there is too much debt and borrowing, the classic way of dealing with it is to push real interest rates down and devalue money, which is bad for creditors and good for debtors. That is what Donald Trump is pushing for and what Jay Powell is defending against.”

The battle between Trump and Powell seemed to go down a notch on Tuesday night. The president and Treasury Secretary Scott Bessent seemingly accepted Powell could stay until the end of his term in May next year if he wants.

But Bessent continues to hammer the Fed more broadly, adding to his suggestions earlier in the week that the whole institution needs to be reviewed by suggesting the central bank has suffered from “mission creep” in recent years.

There’s nothing necessarily wrong with reviewing the way a central bank works, of course. Australia has just been through exactly that, at the behest of Treasurer Jim Chalmers.

But economist and market veteran Mohamed El-Erian says the pressure on Powell isn’t going away. Somewhat counterintuitively, he says the best way for Powell to protect the Fed’s independence may be to resign.

“The political attacks on the Fed will probably moderate significantly, and a credible successor is appointed from a shortlist that already includes candidates committed to preserving the Fed’s autonomy and, in the case of some, strengthening it for the future.”

It is an interesting idea, but perhaps it wouldn’t make much difference. Dalio says history tells us that the pressure on the value of money isn’t going away, and the US dollar and real interest rates will keep going down, probably until “the classic weak money/inflation problems become intense”. That is, inflation caused by a lower dollar and lower rates becomes too much.

So gold has to keep going up as debt keeps going up, and the res bank reduces int rates and so in