Daily Dispatches

Koos Jansen: China's gold purchases -- separating facts from speculation

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8:35a ET Thursday, May 21, 2015

Dear Friend of GATA and Gold:

Bloomberg imagines a wild price for gold if it ever formally backed Chinese yuan

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Chinese Gold Standard Would Need a Rate 50 Times Bullion's Price

By Nicholas Larkin and Eddie Van Der Walt
Bloomberg News
Wednesday, May 20, 2015

A move to a gold standard in China would require an exchange rate of as much as $64,000 an ounce, 50 times bullion's price now, according to Bloomberg Intelligence.

Indian banks doubt that gold paperization scheme will do much

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India's Gold Monetisation Plan Lacks Lustre, Industry Says

By A. Ananthalakshmi and Rajendra Jadhav
Reuters
Wednesday, May 20, 2015

A proposal in India to attract thousands of tonnes of gold owned by households into a bank deposit scheme will likely fail in its current form as it does not address some key concerns for banks and consumers.

Big banks plead guilty to currency market-rigging conspiracy, will pay $5.8 billion

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So much for mere conspiracy "theory."

* * *

Six Banks Pay $5.8 Billion, Five Plead Guilty to Market Rigging

By David McLaughlin, Tom Schoenberg, Liam Vaughan
Bloomberg News
Wednesday, May 20, 2015

Goodbye, zinc rally: CME Group creates futures contract, engages JPM to rig price

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By Luc Cohen
Reuters
Monday, May 18, 2015

CME Group Inc. said on Monday it would launch a zinc futures contract next month, stepping up a global battle for metals market share with the London Metal Exchange amid expanding Asian markets.

Why India's latest gold paperization scheme will fail like the last one

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Gold Monetization: Tax-free Interest on Deposits Is Good but Scheme May Fall Short on Many Counts

By S. Murlidharan
Firstpost, Noida, India
Wednesday, May 20, 2015

http://www.firstpost.com/business/gold-monetisation-tax-free-interest-on...

Correspondence: How do the market riggers rationalize what they do?

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Tuesday, May 19, 2015

Dear GATA:

I just listened to GATA Secretary/Treasurer Chris Powell's interview with Dave Kranzler and Rory Hall on last week's "Shadow of Truth" program --

http://www.gata.org/node/15341

TF Metals Report: GLD drain accelerates again

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1p ET Tuesday, May 19, 2015

Dear Friend of GATA and Gold:

Gold market moving away from London, Alasdair Macleod tells 'Shadow of Truth'

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12:20p ET Tuesday, May 19, 2015

Dear Friend of GATA and Gold:

The link below is corrected to reflect a change in the original link.

India would offer tax exemption for earnings in gold paperization scheme

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India Moves a Step Closer to Tapping 20,000-Ton Gold Hoard

By Siddhartha Singh and Swansy Afonso
Bloomberg News
Tuesday, May 19, 2015

India will allow citizens to deposit gold with banks to earn interest as the world's second-biggest consumer seeks to cut reliance on imports by tapping idle bullion lying with households.

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