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Published on Gold Anti-Trust Action Committee (http://gata.org)

Swiss central bank defends currency intervention as 'essential'

By cpowell
Created 2020-07-14 15:03

By Catherine Bosley
Bloomberg News
Tuesday, July 14, 2020

Currency intervention is an "essential" policy tool for Switzerland, its central bank chief said, in a riposte to the United States, which has the country on a watchlist for allegedly manipulating its exchange rate.

"Even though we still have scope for further interest-rate cuts, the fact remains that one cannot lower interest rates indefinitely," Swiss National Bank President Thomas Jordan said today in a lecture for the International Monetary Fund. "For this reason, interventions in the foreign exchange market, in which we buy foreign currencies and sell Swiss francs, also play a central role in our policy mix."

... Dispatch continues below ...


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Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4 [1]

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant... [2]



The U.S. Treasury earlier this year put Switzerland back on a list of countries that it believes are manipulating their exchange rates for competitive gain, citing the nation's high current-account surplus and bilateral trade balance as evidence.

Yet Swiss policy makers have long relied on interventions to prevent too much strength in the franc, which investors tend to flock to at times of stress. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-07-14/swiss-central-bank-de... [3]

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Source URL:
http://gata.org/node/20284