Daily Dispatches

China says it won't dump treasuries or pile into gold

Submitted by cpowell on Wed, 2010-07-07 17:38 Section: Daily Dispatches

Now why would anyone ever suspect such an option?

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China Won't Dump Treasuries or Pile into Gold

By Zhou Xin and Alan Wheatley
Reuters
Wednesday, July 7, 2010

http://www.reuters.com/article/idUSTOE66604R20100707

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Mystery around BIS gold swaps impugns them as market rigging

Submitted by cpowell on Wed, 2010-07-07 11:30 Section: Daily Dispatches

11:45a ET Wednesday, July 7, 2010

Dear Friend of GATA and Gold:

What can be made of this week's reports that the Bank for International Settlements has undertaken gold swaps with central banks, giving them dollars for their pawned gold?

A few things have to be considered.

First, the BIS apparently has been engaged in surreptitious manipulation of the gold market for a long time.

Read more about Mystery around BIS gold swaps impugns them as market rigging

Jeff Nielson: The seven sins of GLD

Submitted by cpowell on Tue, 2010-07-06 23:35 Section: Daily Dispatches

11:35p ET Tuesday, July 6, 2010

Dear Friend of GATA and Gold:

Jeff Nielson of Bullion Bulls Canada has read through the prospectus for the gold exchange-traded fund GLD and is appalled. His analysis is headlined "The Seven Sins of GLD" and you can find it at Bullion Bulls Canada here:

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European banks use gold reserves to raise cash

Submitted by cpowell on Tue, 2010-07-06 21:28 Section: Daily Dispatches

By Jack Farchy
Financial Times, London
Tuesday, July 6, 2010

http://www.ft.com/cms/s/0/e3ed5836-8949-11df-8ecd-00144feab49a.html

European commercial banks have begun using their holdings of gold to raise cash with the Bank for International Settlements, in a further sign of strains in the money markets on which many rely for funding.

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With BIS gold swap, central banks throw the kitchen sink at gold

Submitted by cpowell on Tue, 2010-07-06 19:40 Section: Daily Dispatches

7:30p ET Tuesday, July 6, 2010

Dear Friend of GATA and Gold:

Read more about With BIS gold swap, central banks throw the kitchen sink at gold

Got Gold Report: Euro shorts cover, silver lame

Submitted by cpowell on Mon, 2010-07-05 14:46 Section: Daily Dispatches

2:45p ET Monday, July 5, 2010

Dear Friend of GATA and Gold (and Silver):

Gene Arensberg's new Got Gold Report is incredibly detailed and comprehensive, concluding with a cautious sidestepping of the gold and silver markets for the moment even as the metals are in backwardation. The report is headlined "Euro Shorts Cover, Silver Lame" and you can find it here:

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Peter Grandich's mid-year market update

Submitted by cpowell on Mon, 2010-07-05 12:23 Section: Daily Dispatches

12:25p ET Monday, July 5, 2010

Dear Friend of GATA and Gold:

Peter Grandich has posted a mid-year market review with emphasis on the dollar and precious metals markets. It's pretty comprehensive and is headlined "2010 Mid-Year Update" and you can find it at the Grandich Internet site here:

http://www.grandich.com/2010/07/2010-mid-year-update/

CHRIS POWELL, Secretary/Treasurer