Maguire sees Western gold futures market collapsing; Steer talks with Commodity Culture
Submitted by admin on Fri, 2026-06-05 10:51 Section: Daily Dispatches10:52a ET Friday, June 5, 2026
Dear Friend of GATA and Gold:
Western gold futures markets are collapsing as China corners the world's physical gold markets, London metals trader Andrew Maguire tells this week's episode of Kinesis Money's "Live from the Vault" program at YouTube:
Indian owner of Swiss gold refiner Valcambi investigated over $159 billion of inflated revenue
Submitted by admin on Thu, 2026-06-04 20:43 Section: Daily DispatchesBy Ashutosh Joshi
Bloomberg News
Thursday, June 4, 2026
India's markets regulator has alleged that the owner of Swiss gold refiner Valcambi SA overstated revenue, according to an interim order issued today.
Mumbai-listed Rajesh Exports Ltd. misrepresented about 15.2 trillion rupees ($159 billion) -- equaling 99.80% of its revenues from subsidiaries over the five fiscal years through March 2025, the Securities and Exchange Board of India said in its order and asked the company to make "true and fair" disclosures in its financial statements and other filings.
Robert Lambourne: BIS gold swaps soared in March before dropping in April
Submitted by admin on Thu, 2026-06-04 13:41 Section: Daily DispatchesBy Robert Lambourne
Thursday, June 4, 2026
Gold swaps undertaken by the Bank for International Settlements on behalf of its member central banks are estimated to have increased strongly in March, up 77 tonnes, rising from 104 tonnes to 181 tonnes, before falling by 47 tonnes to 134 tonnes in April.
This is still a notable increase from the swaps estimated at the end of last year, 56 tonnes.
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Russia says it mined more gold than China
Submitted by admin on Thu, 2026-06-04 09:07 Section: Daily DispatchesBy Cecilia Jamasmie
Mining.com, Toronto
Wednesday, June 3, 2026
Russia says it could produce as much as 500 tonnes of mined gold this year, a figure that would make it the largest producer and far exceed estimates from independent industry observers.
Natural Resources Minister Alexander Kozlov told state-run news agency Tass that Russia would mine between 480 and 500 tonnes of gold in 2025 and that output last year may also have been about 480 tonnes.
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Zimbabwe's gold rush hastens as $1 billion mine targets 100,000 ounces a year
Submitted by admin on Wed, 2026-06-03 09:04 Section: Daily DispatchesBy Ayodeji Adegboyega
Business Insider Africa, New York
Tuesday, June 2, 2026
UK-listed Ariana Resources says ore reserves at its Dokwe Gold Project have surged 42% to 1.13 million ounces, transforming the asset into one of Zimbabwe's most significant undeveloped gold deposits and placing it on course to rival some of the country's largest gold mines.
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India's central bank denies Bloomberg report it sold gold
Submitted by admin on Wed, 2026-06-03 08:56 Section: Daily DispatchesBy Anup Roy
Wednesday, June 3, 2026
India's central bank said a report that it's selling gold is "not correct," pointing to data showing its physical stock of gold has remained unchanged.
