Daily Dispatches

GATA board member Steer explains how futures control monetary metals prices

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9:27a CT Wednesday, October 31, 2018

Dear Friend of GATA and Gold:

Ronan Manly: LBMA initiative will prevent transparency in London gold market

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12:55p ET Tuesday, October 30, 2018

Dear Friend of GATA and Gold:

Bullion Star market analyst Ronan Manly, long a close observer of the London Bullion Market Association, writes today that the association's pledge Monday --

http://gata.org/node/18577

Divers searching for 'extremely rare' gold coins in 1840 shipwreck off South Carolina

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By Mark Price
Charlotte Observer, Charlotte, North Carolina
Sunday, October 28, 2018

Theres a mysterious spot about 20 miles off South Carolina where centuries-old gold coins have been found strewn across the ocean floor for decades.

It's believed to be the final resting place of the SS North Carolina, a steamship that historians say sank in 1840 under bizarre circumstances.

Resource-rich, brains-poor Zimbabwe just can't seem to smarten up

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Zimbabwe Gold Producers Warn Currency Shortage Threatens Output

By Godfrey Marawanyika
Bloomberg News
Monday, October 29, 2018

Zimbabwean gold producers may suspend operations because a foreign-exchange shortage has left them with insufficient funds to cover production costs, the main industry lobby group said.

LBMA to reveal size of London's gold market on Nov. 20

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By Peter Hobson
Reuters
Monday, October 29, 2018

BOSTON -- The London Bullion Market Association will begin publishing data on November 20 that will provide the most accurate picture yet of the size of London's gold trade, its chief executive said today.

A Bundesbank economist has a radical plan to halve Italy's debt

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By Alessandro Speciale
Bloomberg News
Saturday, October 27, 2018

Italy's populist government doesn't need to ask for money from European partners to halve its debt -- it could tap the large private wealth of its citizens, Bundesbank economist Karsten Wendorff suggested.

Traders acquitted of FX rigging that banks admitted

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British 'Cartel' Traders Acquitted of Rigging Currency Market

By Bob Van Voris, Lananh Nguyen, and Chris Dolmetsch
Bloomberg News
Friday, October 26, 2018

Three British traders were acquitted of using an online chatroom to fix prices in the $5.1 trillion-a-day foreign exchange market, a blow to global efforts to police the industry.

China and Japan sign three-year FX swap deal amid U.S. trade tension

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By Tetsushi Kajimoto
Reuters
Friday, October 26, 2108

TOKYO -- Japan and China on Friday signed a currency swap arrangement of up to $30 billion -- the largest such bilateral deal concluded by Tokyo -- to strengthen financial stability and spur business activity in both countries, the Bank of Japan said. ...

China likely to slow yuan's slide to 7 per dollar, sources tell Reuters

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By Kevin Yao
Reuters
Friday, October 26, 2018

BEIJING -- China is likely to use its vast currency reserves to stop any precipitous fall through the psychologically important level of 7 yuan per dollar as it could risk triggering speculation and heavy capital outflows, policy insiders said.

Treasury official points finger at Turkey over Venezuelan gold trade

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By Lucas Robinson
Medill News Service
Wednesday, October 24, 2018

WASHINGTON -- The United States should publicize Turkey's involvement in the Venezuelan gold industry, a Treasury Department official said today.

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