Daily Dispatches

China targets counterweight in gold trade with yuan fix

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By A. Ananthalakshmi and Jan Harvey
Reuters
Wednesday, July 1, 2015

A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer.

How do you change a currency fast?

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By Isabelle Fraser
The Telegraph, London
Tuesday, June 30, 2015

The drachma was the world's oldest existing currency before it was replaced by the euro on January 1, 2001. And it may be about to make a comeback. This Sunday's referendum is described by European leaders as a vote for or against the euro. If Greece votes "oxi," the country may soon be looking for a new currency.

ECB poised to raise heat on Greece's beleaguered banks

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Claire Jones and Alex Barker
Financial Times, London
Tuesday, June 30, 2015

When the eurozone's central bankers meet in Frankfurt on Wednesday, they could make a decision that some officials fear could push one or more of Greece's largest banks over the edge.

Bron Suchecki: OCC's gold derivatives chart is wrong, and derivatives went down

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1p ET Tuesday, June 30, 2015

Dear Friend of GATA and Gold:

Perth Mint market researcher Bron Suchecki writes today that Zero Hedge was wrong in asserting last night that the new quarterly report from the U.S. Office of the Comptroller of the Currency shows a huge increase in issuance of gold derivatives, because, Suchecki maintains, a chart in the OCC report is erroneous.

OCC derivatives report suggests U.S. govt. has seized all commodity markets

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10:56p ET Monday, June 25, 2015

Dear Friend of GATA and Gold:

Citing the latest quarterly report of the U.S. Office of the Comptroller of the Currency, Zero Hedge concludes tonight that JPMorganChase has "cornered the commodity derivative market," the notional value of the investment bank's commodity derivative position having just exploded from around $200 billion to nearly $4 trillion.

S. Africa's gold mines offer wage increases of up to 13%

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By Kevin Crowley
Bloomberg News
Monday, June 29, 2015

South African gold-mining companies tabled a five-year wage offer to the industry's unions that falls short of demands for increases of more than 80 percent.

Koos Jansen: New Chinese fund cites gold's 'superiority'

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11:53a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

Alasdair Macleod: The euro crisis

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11:47a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

Dave Kranzler: Market intervention creep

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Don't Panic -- The Fed Is Control of the Markets

By Dave Kranzler
Investment Research Dynamics
Monday, June 29, 2015

If today's market action does not convince the last skeptics that the U.S. financial markets are completely rigged, nothing will.

Financial system cracks, gold somehow falls, no one in authority will ask why

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10:56a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

No one who has followed GATA for a while could have thought last night, as Greece collapsed financially and the foundations of the European Union and its currency were shaken, that gold would do anything but decline or be held steady under surreptitious central bank intervention in the markets.

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