Daily Dispatches

UK's Royal Mint plans first stock exchange product with gold ETF


It's not yet clear whether the fund will enable investors to withdraw gold from the Royal Mint vault or whether the fund will be just another paper hallucination to divert demand away from real metal.

* * *

By Chris Flood
Financial Times, London
Sunday, September 8, 2019

Fed chairman says making up for lost inflation is 'great idea'


By Brendan Greeley
Financial Times, London
Saturday, September 7, 2019

In Zurich on Friday, Jay Powell, chairman of the Federal Reserve, repeated his mantra from this summer that the Fed will continue to "act as appropriate to sustain the expansion." Markets were unsurprised and unmoved.

But after that, he got technical.

GATA chairman's interview cites all the metals-friendly factors that didn't change today


9p ET Thursday, September 5, 2019

Dear Friend of GATA and Gold:

In a discussion put on video today as gold and silver were suffering long-awaited smashdowns, GATA Chairman Bill Murphy and Chris Marcus of Arcadia Economics reviewed all the issues and circumstances tending to push monetary metals prices higher, issues and circumstances that didn't change in the slightest today.

Alasdair Macleod: U.S. dollar is more at risk than China's yuan


China or U.S.?

By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, September 5, 2019

China has made some silly errors in its conflict with the United States, reflecting the arrogance that often afflicts every state actor. But the appearance that China is being backed into a corner over Huawei, trade tariffs, and Hong Kong is misleading.

Bullion banks on the run?


Reuters Exclusive: LME's Gold, Silver Contracts in Doubt as Societe Generale Pulls Out

By Peter Hobson and Pratima Desai
Wednesday, September 4, 2019

LONDON -- The London Metal Exchange's gold and silver futures are being thrown into doubt with the imminent resignation of Societe Generale as a market maker threatening to deepen a decline in trading activity, three sources said.

In Howe Street interview, GATA's Ed Steer surveys gold and silver markets


10:37a ET Wednesday, September 4, 2019

Dear Friend of GATA and Gold:

GATA board member Ed Steer, publisher of Ed Steer's Gold & Silver Digest (https://edsteergoldsilver.com/), was interviewed a few days ago by Jim Goddard for HoweStreet.com.

Among other things, Steer said:

-- "Seasonality" means nothing in rigged markets like those of gold and silver.

$1 billion decline in Venezuela's gold reserves in first half of year


Corina Pons and Mayela Armas
Tuesday, September 3, 2019

CARACAS, Venezuela -- Gold reserves held by Venezuela's central bank fell by $1 billion in the first half of 2019, official data released this week showed, amid opposition accusations that the government is selling the precious metal abroad to raise revenue in the face of U.S. sanctions.

Craig Hemke at Sprott Money: Curious U.K. gold import-export trends


9:40p ET Tuesday, September 3, 2019

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals report, writing tonight at Sprott Money, contemplates the trade data showing gold suddenly flowing back from Switzerland to London, and he wonders if it doesn't presage the collapse of the fractional-reserve gold banking system and the market rigging it long has supported with derivatives.

Von Greyerz tells KWN why silver will outpace gold


10:35a ET Tuesday, September 3, 2019

Dear Friend of GATA and Gold:

At least defaulted imperial Chinese railroad bonds don't have negative rates


Trump's New Trade War Tool Might Just Be Antique China Debt

By Tracy Alloway
Bloomberg News
Thursday, August 29, 2019

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