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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 Atsuko Aoyama and Noriyuki Hirata
Reuters
Friday, July 31, 2026
TOKYO -- Japan may have sold as much as $58.97 billion in its latest efforts to bolster its currency, central bank data indicated today, signaling repeated efforts to stem the yen's weakness.
The Bank of Japan's projection for money market conditions for the following day suggests an 8.2 trillion yen net outflow of funds, compared with brokerage forecasts that range between a surplus of 1.4 trillion yen and a shortfall of 1.73 trillion yen.
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Yen-buying activity involves the BOJ soaking up the currency from markets, so any outsized shortfalls in funds can offer an estimate of the size of any intervention.
Japan conducted a yen-buying, dollar-selling intervention in New York on Thursday, according to a market source, its first such foray in three months, as the currency's slump to four-decade lows threatened to worsen living costs hit by the Iran war-driven energy shock. ...
... 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:
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 Alasdair Macleod
GoldMoney, Toronto
Friday, July 31, 2026
Few investors are interested in major upheavals facing global finances. Indifference in summer is normal, but this is a time of maximum danger to personal wealth.
After 55 years of this fiat currency regime, the top 500 investment managers with an estimated $140—150 trillion under management are clueless about money and credit. In 1919 Keynes wrote that "not one man in a million" is able to diagnose the destruction caused by debauching the currency. Plus ça change.
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This is also true of the vast majority of precious metal dealers. If proof of this statement is needed, those who account for their dealings in gold and not in their fiat currencies are probably less in number than the fingers on your hand.
In other words, they calculate their performance in credit, not money. Admittedly, they are made to do this for tax reasons by their debauching governments but none of them run parallel accounts in gold-grams. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/pm-sentiment-low-as-it-gets
* * *
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
By Ankur Banerjee, Yena Park, and Samuel Indyk
Reuters
Thursday, July 30, 2026
Japan and South Korea both stepped in to buy their currencies on Thursday, sources and analysts said, while signs of U.S. support grew today in a rare coordinated intervention that marks an escalation in efforts to stem currency weakness.
The intervention gave the yen its biggest boost in almost two years and, if the past is any guide, any joint effort with the U.S. may prove strong enough to turn around the battered currency.
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"It helps to give the story more credibility, that it could be more durable, that at least the Ministry of Finance in Japan is not fighting everyone else," said Dominic Bunning, head of G10 FX strategy at Nomura in London.
Japan conducted its yen-buying intervention in New York hours on Thursday, a market source told Reuters. Bank of Japan data suggested Japan may have sold as much as $58.97 billion to support the yen, though definitive figures are not due for another month.
Reuters reported that the U.S. Treasury had informed a number of banks that it may intervene in the yen market today, and that banks should "stand ready for future action," citing a source. ...
... For the remainder of the report:
* * *
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
By Gertrude Chavez-Dreyfuss
Reuters
Friday, July 31, 2026
NEW YORK -- A sharp shift toward a steeper U.S. Treasury bond curve following the Federal Reserve's decision to leave interest rates unchanged this week has raised concerns about the central bank's credibility and willingness to fully confront inflation.
The drop in front-end yields, even as those on longer tenors climbed, suggests growing skepticism that the Fed will raise rates again, analysts said, despite Chair Kevin Warsh's insistence on Wednesday that policymakers "will not hesitate to act" if price pressures fail to ease.
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After the Fed left rates steady, despite three officials dissenting in favor of a hike, Treasury yields initially fell across maturities as investors welcomed the absence of an immediate rate increase.
That reaction quickly gave way to a more striking pattern. Yields on shorter-dated Treasuries continued to decline while those on longer-dated notes and bonds surged, particularly at the 30-year end of the curve, which soared to its highest in 19 years. The result was a pronounced steepening of the yield curve that some investors interpreted as a sign markets are losing confidence in the Fed's commitment to fight inflation. ...
... For the remainder of the report:
* * *
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
9a ET Friday, July 31, 2026
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, speaking on Kinesis Money's "Live from the Vault" program this week, says the new gold trade-clearing system in Hong Kong is a sign of a structural change in the gold market, with pricing shifting from New York and London to Asia and hastening a worldwide revaluation of gold.
The program is 50 minutes long and can be found at the Kinesis Money channel at YouTube here:
https://www.youtube.com/watch?v=JXxIgSbfWiw
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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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 US$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
Thursday, July 30, 2026
Could China's gold reserves surpass the United States’?
On the surface, this seems like a tall order, but analysts at BMO Capital say it could happen in the next five years given China's unreported gold buying.
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The U.S. officially holds just over 8,133 tonnes of gold in its reserves. However, we don't know for sure how much gold the U.S. really has because the government refuses to do a comprehensive audit.
The Chinese officially have 2,346 tonnes of gold. However, China likely holds significantly more gold than it publicly admits.
Last year Money Metals' researcher Jan Nieuwenhuijs parsed the data and determined that the Chinese central bank covertly bought 570 tonnes of gold in 2024.
The People's Bank of China reported only a 41-tonne increase in its gold reserves that year.
Mainstream analysts have finally started to catch on to this phenomenon. ...
... For the remainder of the report:
* * *
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
By Leika Kihara
Reuters
Thursday, July 30, 3036
TOKYO -- Japan conducted yen-buying, dollar-selling market intervention in New York markets today, a market source said, pulling the sagging currency from four-decade lows.
The move came ahead of the Bank of Japan's policy decision on Friday, where the central bank is widely expected to keep interest rates steady at 1% but signal its readiness to continue pushing up borrowing costs.
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U.S. Treasury Secretary Scott Bessent said today that Japan may have intervened to prop up its yen currency, according to a Fox Business Network reporter, who added Bessent said the yen "seems very undervalued to me." ...
... For the remainder of the report:
* * *
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
The real story here may be, first, that World Gold Council data is unreliable, and, second, that the Financial Times now can admit that China conceals much of its gold purchases.
* * *
Central Banks Slashed Their Gold Purchases in Early 2026
By Leslie Hook
Financial Times, London
Thursday, July 30, 2026
Central banks bought far less gold during the first quarter of this year than previously thought, suggesting that one of the biggest growth engines for bullion demand may be cooling.
A significant data revision has slashed the estimated level of central bank purchases from 244 tonnes in the first quarter to just 57 tonnes -- the lowest first-quarter level in more than 15 years, according to a new report from the World Gold Council, an industry body.
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Central bank purchases have been one of the biggest drivers of the global gold market over the past four years and helped to propel the record-breaking bullion rally that peaked earlier this year.
However, it has become more difficult to measure their activity as their purchasing becomes more opaque, particularly that of big buyers such as China, which discloses only a portion of its purchases. ...
... For the remainder of the report:
https://www.ft.com/content/ce198d5a-4a3b-46e8-aec3-77e5ab53ffb7
* * *
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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