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Daily Dispatches

Six banks settle European bond price-fixing litigation in New York

Section: Daily Dispatches

By Jonathan Stempel
Reuters
Friday, July 26, 2024

NEW YORK -- Six banks including Bank of America and Citigroup agreed to pay $80 million to settle antitrust litigation in New York accusing them of conspiring to rig prices of European government bonds.

A preliminary settlement with Bank of America, Citigroup, Jefferies, NatWest, Normura, and UBS was filed late Friday in Manhattan federal court and requires a judge's approval.

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Canadian gold mine cyanide spill raises fears among Alaskans on the Yukon River

Section: Daily Dispatches

By Max Graham
Alaska Beacon, Washington, D.C.
Friday, July 26, 2024

A cyanide spill at a major gold mine in the Yukon Territory -- high in the Yukon River watershed -- has sparked widespread concern in Canada.

But Alaska salmon advocates say the mishap isn't just a problem for Yukoners: The spill happened upstream of a tributary of the Yukon River. The Yukon is Alaska's biggest transboundary waterway, and residents along its shores who have depended on salmon for generations are already suffering amid crashes of multiple species.

On LFTV Maguire uses Comex price charts to show Fed's interventions at options expiration

Section: Daily Dispatches

12:03p ET Saturday, July 27, 2024

Dear Friend of GATA and Gold:

In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire shows with Comex price charts how the Federal Reserve has been intervening to knock the gold price down in advance of futures option expiration dates. 

At Liberty and Finance, GATA's Steer says JPM's dishoarding holds silver down

Section: Daily Dispatches

9:59a ET Friday, July 26, 2024

Dear Friend of GATA and Gold:

Appearing this week on the Liberty and Finance channel at YouTube with host Dunagun Kaiser, GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest letter, says silver demand is huge and is being met mainly by dishoarding from the stash maintained by JPMorganChase, which long has been suppressing the monetary metal's price.

Another sign that India's government is retreating from the war on gold

Section: Daily Dispatches

By Shweta Punj, Meghna Mittal, and Bodhisatva Ganguli
Money Control, Mumbai
Thursday, July 25, 2024

The government may scale back or even discontinue the Sovereign Gold Bonds scheme, which it considers too expensive, a person familiar with the development said.

This move coincides with the Union budget cutting customs duties on gold and silver to 6% from 15%. The reduction in customs duty is expected to dampen demand for Sovereign Gold Bonds.

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Market analyst Peter Grandich discusses GATA's work with secretary/treasurer

Section: Daily Dispatches

6:19p ET Wednesday, July 24, 2024

Dear Friend of GATA and Gold:

Market analyst and monetary metals advocate Peter Grandich today discussed with your secretary/treasurer GATA's 25 years of exposing manipulation of the monetary metals markets, work that has led to central banks restoring and increasing their gold reserves, as well as to the disappearance of market analysts who ridiculed assertions of market rigging only to find them documented extensively year after year.

Chinese gold imports fell by almost two-thirds on high prices

Section: Daily Dispatches

By Sybilla Gross
Bloomberg News
Monday, July 22, 2024

China's gold imports plunged last month, a sign that the nation's buyers are deterred by the precious metal's elevated prices amid a sluggish economy.

Purchases from overseas by the biggest bullion consumer fell nearly 60% to 58.9 tons, the lowest since May 2022, according to official data released Sunday.

India slashes import tax on gold and silver to tackle smuggling

Section: Daily Dispatches

Or maybe it's just more evidence that the Indian government is getting aboard the gold train after many years of trying to block it.

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By Rajendra Jadhav
Reuters
Tuesday, July 23, 2024

MUMBAI -- India today slashed import duties on gold and silver in a move industry officials said could lift retail demand and help cut smuggling in the world's second-biggest bullion consumer.

Suppressing silver prices has been official U.S. policy since 1965

Section: Daily Dispatches

3:24p ET Sunday, July 21, 2024

Dear Friend of GATA and Gold:

Trump's disdain for digital dollar risks 'Cold War era' in money

Section: Daily Dispatches

By María Paula Mijares Torres
Bloomberg News
Friday, July 19, 2024

Central bank digital currencies were once looked upon as nothing short of the future of money around the world. Yet at least in the United States, that sunny outlook for CBDCs is in serious doubt for one simple reason: Donald Trump and his Republican allies hate them.

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