KTFA (Samson)

Samson: Learn about the world’s largest buyer of gold in 2018

5th February, 2019  Appearing again today

The World Gold Council said Turkey was among the world’s top gold buyers to boost its yellow reserves in 2018. The center added in a report that the Turkish central bank added 51.5 tons of gold last year, C “American.  This was the second-largest increase in gold purchases for the second year in a row since 2017.

Overall gold purchases, bought by central banks around the world, were in 2018, the second highest since US President Richard Nixon’s decision to end the dollar peg in 1971.  Net central bank purchases reached 651.5 tonnes in 2018, an increase of 74 percent over the previous year when 375 tonnes were purchased.  The World Gold Council estimated that central banks now have about 34,000 tons of gold.

In the context, the report said that the Russian central bank sold almost all of its share in US Treasury bonds to buy 274.3 tons of gold in 2018.  He explained that Kazakhstan, India, Iraq, Poland and Hungary were also among the major gold buyers last year.

According to the report, the US Federal Reserve maintains the largest amount, equivalent to three quarters of the foreign exchange reserves in the country.  “Increasing geopolitical and economic uncertainty throughout the year has prompted central banks to diversify their reserves and refocus their attention on the primary objective of investing in safe and liquid assets,” the report said.   LINK


Samson:  Kuwait warns of supply shortages in 2019 due to Venezuela

5th February, 2019

Kuwait Petroleum Corporation (KPC) chief executive Hashim Hashem said on Tuesday that the world oil supply could be negatively affected this year by heavy declines in crude exports from Venezuela

US President Donald Trump’s administration has imposed sanctions on Venezuela’s National Oil Company (PDVSA) to cut OPEC member exports to the United States and pressure Socialist President Nicolas Maduro to give up power   LINK


Samson:  Sources: Trump will choose a senior official in the treasury to head the World Bank

The administration of President Donald Trump has notified shareholders at the World Bank that the president plans to test David Malpas, a senior Treasury official, as a candidate for the United States to lead the development bank, informed sources said Tuesday.

The nomination of Malpas, one of Trump’s supporters and skeptics in multilateral organizations, is setting the stage for the bank’s presidency, which pledged about $ 64 billion to developing countries in the year ending June 30, 2018.

Politico, the first to publish the report, quoted unnamed administration officials as saying the decision would be announced on Wednesday.

White House spokesmen and the Treasury Department declined to comment.

A European diplomatic source said the Trump administration had informed several capitals of Malpas’s nomination, adding that European shareholders were unlikely to oppose the nomination.    LINK