Daily Dispatches

EU explores account freezes to prevent runs at failing banks

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By Francesco Guarascio
Reuters
Friday, July 28, 2017

BRUSSELS -- European Union states are considering measures that would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs, an EU document reviewed by Reuters revealed.

India's falling trade deficit allows reducing gold import tax, govt. official says

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From Reuters
Thursday, July 27, 2017

MUMBAI -- India's falling trade deficit is giving the world's second-biggest gold consumer room to lower its import duty on bullion, a commerce ministry official said Thursday.

Bullion Star's gold market charts for July

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1p ET Thursday, July 27, 2017

Dear Friend of GATA and Gold:

Gold market charts for July have been posted by Bullion Star and they show demand strong around the world except for the exchange-traded fund GLD, which perhaps is being shorted to help supply metal elsewhere. Bullion Star's charts are here:

https://www.bullionstar.com/blogs/gold-market-charts/gold-market-charts-...

LIBOR to end in 2021 as regulator says bank benchmark is untenable

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By Suzi Ring
Bloomberg News
Thursday, July 27, 2017

Libor, the benchmark underpinning more than $350 trillion of financial products, will be phased out by the end of 2021 as U.K. regulators and banks look to replace the scandal-tarred indicator with a more reliable system.

Bullion Star: China's secretive accumulation of gold on the international market

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9:40p ET Wednesday, July 26, 2017

Dear Friend of GATA and Gold:

Bullion Star today reviews the evidence that China has been accumulating much more gold as semi-official reserves than the country has been reporting. Bullion Star's analysis is headlined "People's Bank of China Gold Purchases: Secretive Accumulation on the International Market" and it's posted at Bullion Star here:

Bankers ditch fat salaries to chase digital currency riches

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By Lulu Yilun Chen and Camila Russo
Bloomberg News
Tuesday, July 25, 2017

Richard Liu gave up a seven-figure salary this month to get into one of the hottest financial instruments around right now: initial coin offerings. The former China Renaissance deal maker has since backed a clutch of cryptocoin sales that have raised millions -- sometimes in seconds -- often without a single product.

London Metal Exchange to publish gold, silver prices soon, Reuters says

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By Peter Hobson
Reuters
Tuesday, July 25, 2017

LONDON -- The London Metal Exchange will start publishing gold and silver reference prices, the exchange told Reuters today, potentially challenging the dominance of benchmarks administered by Intercontinental Exchange.

Trader Lanci says there's no 'fat finger' but plenty of market manipulation

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3:19p ET Tuesday, July 25, 2017

Dear Friend of GATA and Gold:

TF Metals Report: Bullion banks are prepared for rallies in gold and silver

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9:25a Tuesday, July 25, 2017

Dear Friend of GATA and Gold:

Trader positioning data for the New York gold and silver markets suggests that the bullion banks are prepared for rallies in both the monetary metals, the TF Metals Report says. The analysis is headlined "More Commitment of Traders Perspective" and it's posted here:

https://www.tfmetalsreport.com/blog/8463/more-cot-perspective

Philippines' Duterte warns miners: 'I will tax you to death'

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By Enrico Dela Cruz
Reuters
Monday, July 24, 2017

MANILA -- Philippine President Rodrigo Duterte said today he wanted to stop exporting mineral resources and might close the mining sector completely and tax miners "to death" if damage to the environment persisted.

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