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John Hathaway: What does Trump's victory mean for gold?
12:10p ET Thursday, November 24, 2016
Dear Friend of GATA and Gold:
In his latest market letter, Tocqueville Gold Fund manager John Hathaway notes that the smashing of gold after the U.S. presidential election involved the dumping of futures contracts nominally equivalent to two years of production.
"We have observed on repeated occasions," Hathaway writes, "that purely speculative paper transactions distort the price of real-world physical goods. In our view, price-disruptive distortions of this sort (including commodities other than gold) are enabled and encouraged by the willingness of the Chicago Mercantile Exchange to promote high-frequency trading to build profitability."
That seems to be as close as any respectable participant in the financial markets can get to the issue of manipulation of the gold market.
Hathaway notes that the systemic risks to the world's economy have not vanished with the election and argues that "exposure" to gold "may make more sense than ever." His letter is headlined "Trump's Victory: What Does it Mean for Gold?" and it's posted at the Tocqueville internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
K92 Mining Begins Gold Production at Kainantu Mine
Wednesday, October 5, 2016
K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.
Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."
...For the remainder of the announcement:
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