Daily Dispatches

Bullion Star posts primer on China's especially secretive gold reserves

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10:25a ET Thursday, January 5, 2017

Dear Friend of GATA and Gold:

Bullion Star's latest primer on central bank gold reserves is about China's, which, Bullion Star notes, are among the world's most secret. The primer is posted here:

https://www.bullionstar.com/gold-university/central-bank-gold-policies-p...

CHRIS POWELL, Secretary/Treasurer

China's choices narrowing as it burns through FX reserves to support yuan

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By Nichola Saminather
Reuters
Thursday, January 5, 2017

SINGAPORE -- As China's foreign exchange reserves threaten to tumble below the critical $3 trillion mark, the biggest fear for investors is not whether Beijing can continue to defend the yuan but whether it will set off a vicious cycle of more outflows and currency depreciation.

Bullion Star 'infographic' on gold ETFs shows how they undermine the gold price

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4:03p ET Wednesday, January 4, 2017

Dear Friend of GATA and Gold:

Saville doesn't get it: Rig the gold price and you rig all prices

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3:49p ET Wednesday, January 4, 2017

Dear Friend of GATA and Gold:

Manipulation of the gold market by investment banks, technical analyst Steve Saville writes this week in the Speculative Investor, is not necessarily long-term price suppression:

http://tsi-blog.com/2017/01/market-manipulation-is-not-price-suppression...

'Audit the Fed' bill gets new push under Trump

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By Peter Schroeder
The Hill, Washington, D.C.
Wednesday, January 4, 2017

Controversial legislation to subject the Federal Reserve's monetary policy powers to outside scrutiny is getting new life in Washington.

Rep. Thomas Massie, R-Ky., and Sen. Rand Paul, R-Ky., have re-introduced legislation to "audit the Fed" after a similar effort stalled in the last Congress.

U.S. LIBOR breaks above 1 percent for first time since 2009

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By Richard Leong and Dan Burns
Reuters
Wednesday, January 4, 2017

The rate banks charge each other to borrow dollars for three months rose above 1 percent today for the first time since May 2009 as global interest rates extend their climb on expectations of accelerating growth and inflation.

China Inc.'s large dollar debts fuel Beijing's efforts to curb yuan plunge

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By Lingling Wei
The Wall Street Journal
Tuesday, January 3, 2017

BEIJING -- The large pile of foreign debt owed by Chinese companies, from state-owned banks to airlines, is giving added impetus to Beijing's efforts to keep the yuan from falling too steeply against the rallying dollar.

Mike Kosares: The gold owner's guide to 2017

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2:45p ET Tuesday, January 3, 2017

Dear Friend of GATA and Gold:

In his "Gold Owner's Guide to 2017," Mike Kosares of USAGold in Colorado writes that gold remains in a long-term uptrend and the U.S. dollar in a long-term downtrend despite the movements of the last several years. Silver, Kosares adds, has been doing especially well. His analysis is posted at USAGold here:

GATA's Ed Steer to speak at Vancouver Resource Investment Conference

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2:07p ET Tuesday, January 3, 2017

Dear Friend of GATA and Gold:

GATA Board of Directors member Ed Steer, publisher of the daily Ed Steer's Gold and Silver Digest letter --

http://www.edsteergoldandsilver.com

Note ban seen shaving a third of India's gold demand in 2017

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By Rejesh Bhayani
Business Standard, New Delhi
Saturday, December 31, 2016

Demonetization is expected to shave 300 tonnes off India's gold demand, which is unlikely to come back in a hurry.

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