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Monetary Metals reconstructs gold and silver forward rates
5:18p ET Friday, June 23, 2017
Dear Friend of GATA and Gold:
Monetary Metals, the Scottsdale, Arizona-based company that provides investors opportunities to earn interest on gold that is paid in gold, today announced that it is publishing daily "gold forward" and "silver forward" interest rates of the sort formerly published by the London Bullion Market Association -- the interest rate charged by bullion dealers for lending gold and silver against U.S. dollars.
In an announcement written by the comapny's vice president for operations, Bron Suchecki, formerly of the Perth Mint, Monetary Metals said: "The forward rate is important to gold mining, refining, jewelry, mint, and industrial manufacturing companies because their financing and hedging transactions depend on it. However, the LBMA stopped publishing GOFO in January 2015 and SIFO in in November 2012."
Monetary Metals Chief Executive Officer Keith Weiner said: "We are providing the daily forward and lease rates as a service to the industry."
The announcement by Monetary Metals is posted at the company's internet site here:
https://monetary-metals.com/monetary-metals-brings-back-the-gold-forward...
Monetary Metals' gold forward rate can be found here:
https://monetary-metals.com/thought-leadership/data-science-charts/gold-...
Monetary Metals' silver forward rate can be found here:
https://monetary-metals.com/thought-leadership/data-science-charts/silve...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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