Daily Dispatches

Race for sunk Russian warship's '5,500 boxes of gold'


From the South China Morning Post, Hong Kong
Wednesday, July 18, 2018

Divers off the South Korean island of Ulleungdo have discovered the fabled wreck of the Dmitrii Donskoi, a Russian warship that was sunk in 1905 and is rumoured to still contain 5,500 boxes of gold bars and coins said to be worth US$133 billion.

Russia again dumps U.S. Treasuries amid sanctions


Foreigners Buy U.S. Treasuries in May; Russia Drops Out of List, Data Shows

By Gertrude Chavez-Dreyfuss and Richard Leong
Tuesday, July 17, 2018

NEW YORK -- Foreigners bought U.S. Treasuries in May, led by private investors, data from the Treasury Department showed on Tuesday, in a safety bid amid geopolitical tensions linked to trade and Italy-related turmoil.

Craig Hemke at Sprott Money: India vs. Comex silver


7:58p ET Tuesday, July 17, 2018

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing at Sprott Money, reports tonight that in recent months India's demand for silver has been running at record levels. But Hemke adds that paper silver traded on the New York Commodities Exchange trades every two days more silver than the world produces in a year.

David Brady at Sprott Money: China robs Comex of control of gold price


1:45p ET Friday, July 13, 2018

Dear Friend of GATA and Gold:

The close correlation of the gold price with the valuation of the Chinese yuan and the International Monetary Fund's Special Drawing Rights shows that China, not the New York Commodities Exchange, is now in control of the price of the monetary metal, money manager David Brady writes today at Sprott Money.

Former Barclays trader found guilty of rigging interest rate


By Kirstin Ridley
Thursday, July 12, 2018

LONDON -- A French former trader with Barclays, tried in his absence by a London court in an 11-week trial, has been convicted of helping to mastermind a five-year plot to rig global interest rates.

May's gold output in South Africa falls most since February 2017


Ana Monteiro
Bloomberg News
Thursday, July 12, 2018

Gold output in South Africa, once the world's biggest producer of the metal, declined in May by the greatest amount since February 2017.

Most South African gold mines are unprofitable but owners, unions, government don't care why


Minerals Council Says 75% of South Africa's Mines Are Unprofitable

By Allan Seccombe
Business Day, Johannesburg, South Africa
Wednesday, July 11, 2018

Three-quarters of South Africa's gold mines are unprofitable or barely making money, says the Minerals Council SA as the sector enters wage talks that some participants hope will reflect the realities bedevilling the sector.

Ed Steer: Dollar 'rally' appeared in nick of time Monday


7:25p ET Tuesday, July 10, 2018

Dear Friend of GATA and Gold:

GATA board member Ed Steer's Gold and Silver Digest letter for Monday, headlined "A Dollar Index 'Rally' Appeared in the Nick of Time Monday," has been posted in the clear at GoldSeek here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Craig Hemke at Sprott Money: Has China taken control of the gold market?


7:10p ET Tuesday, July 10, 2018

Dear Friend of GATA and Gold:

Sound Money Index of states for 2018 announced


By JP Cortez
Money Metals News Service
Monday, July 9, 2018

Utah, Texas, and Wyoming round out the top three most sound money-friendly states in the United States according to the 2018 Sound Money Index, released today by the Sound Money Defense League and Money Metals Exchange.

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