Daily Dispatches

Obviousness of gold market rigging helps central banks but there's a limit

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10:29a ET Tuesday, June 11, 2019

Dear Friend of GATA and Gold:

Responding to your secretary/treasurer's observation Sunday that central bank and government interventions against gold have been becoming more obvious --

http://www.gata.org/node/19134

-- our friend C.W. writes that the more obvious interventions against gold become, the more effective they are.

USAGold's 'News & Views' letter for June

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2:25p ET Monday, June 10, 2019

Dear Friend of GATA and Gold:

USAGold's June "News & Views" newsletter has commentary about gold's upward breakout, billionaires who see virtue in the monetary metal as an investment, a new book by Jim Rickards, the Malaysian prime minister's musings about a gold-backed east Asian currency, and more. The June issue is posted at USAGold here:

China announces gold reserve increase for sixth straight month

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China Gold Reserves Climb for Sixth Month in May

By Alice Woodhouse
Financial Times, London
Monday, June 10, 2019

https://www.ft.com/content/ca50aa10-8b18-11e9-a1c1-51bf8f989972?desktop=...

China increased its gold purchases for the sixth month running in May, taking its total reserves to 1,916 tonnes, while the country's foreign exchange holdings defied expectations for a fall.

If GATA is doing the right thing, please consider helping us

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12:11p ET Sunday, June 9, 2019

Dear Friend of GATA and Gold:

For years GATA's officers have marveled among themselves that central banking's gold price suppression policy couldn't get more obvious, and each time we have been proven wrong. But in a way that may be an indicator of a certain amount of success for the organization.

The African nation built on gold loses its production crown to a rival

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By Felix Njini
Bloomberg News
Sunday, June 9, 2019

The country that led global gold production for a century and extracted about half the bullion ever mined is now Africa's second-largest gold producer. Output is shrinking as operators capitulate to stubbornly high costs, regular strikes and the geological challenges of tapping the world's deepest mines.

John Looby: Putting America first may end dollar dominance

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By John Looby
The Sunday Times, London
Sunday, June 9, 2019

https://www.thetimes.co.uk/edition/ireland/putting-america-first-may-end...

Putin says role of dollar should be reconsidered in world trade

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From Agence France-Presse
via The Business Times, Singapore
Friday, June 7, 2019

https://www.businesstimes.com.sg/government-economy/putin-says-role-of-d...

ST. PETERSBURG, Russia -- Russian leader Vladimir Putin on Friday renewed calls to revisit the role of the U.S. dollar in global trade and accused Washington of seeking to dominate the world.

Manipulation is when you stop manipulating, treasury secretary says

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China Is Letting Value of Yuan Slide to Offset Trade War Tariffs, US Treasury Secretary Steven Mnuchin Says

By Karen Yeung
South China Morning Post, Hong Kong
Saturday, June 8, 2019

Intervention to support your currency isn't manipulation, Treasury secretary says

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It just feels like manipulation. Are gold investors, mining companies, financial journalists, and "market analysts" getting the point yet? Will they ever ask about it?

* * *

Mnuchin Says FX Tariff Push Isn't Shift to Weak Dollar Policy

By Saleha Mohsin
Bloomberg News
Saturday, June 8, 2019

Russia keen to sell yuan bonds to deepen ties with China and reduce dollar dependence

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By Amanda Lee
South China Morning Post, Hong Kong
Friday, June 7, 2019

https://www.scmp.com/economy/china-economy/article/3013528/russia-keen-s...

Russia is again exploring selling yuan bonds to deepen its financial market connections with China and to boost trade in yuan and roubles to counter the dominance of the US dollar.

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