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Shanghai Gold Exchange limits transaction size to curb manipulation
Shanghai Gold Exchange Cuts Transaction Size to Limit Price Moves
By Josephine Mason and Muyu Xu
Reuters
Wednesday, December 28, 2016
Shanghai Gold Exchange, the world's biggest physical bullion exchange, said Wednesday it will curb the amount of gold investors can trade at one time, a move analysts said would limit institutional investors' influence on prices.
The exchange said in a statement it will halve its limit on transactions to 500 kilograms on some spot gold contracts starting Jan. 1. It did not give a reason for the move and the exchange did not answer calls seeking comment.
The new limit, which would be worth more than $20 million based on current prices, suggests the move is targeted at institutional investors, such as banks and hedge funds.
The move does not affect the amount traders can sell or buy in any one day, but it would likely force traders to carry out big transactions in multiple moves, reducing the potential for "fat finger" erroneous trades or preventing big investors from carrying out rapid-fire buying or selling to influence prices.
It may also drive up the transactions costs. ...
... For the remainder of the report:
http://www.reuters.com/article/china-gold-idUSL1N1EN060
Sandspring Resources Commences 2016 Exploration Campaign
Company Announcement
August 17, 2016
Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.
In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.
For the remainder of the announcement and highlights of the 2015 drill program:
https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...
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