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Invest 'responsibly' in gold under rules set by the market's riggers, the LBMA and JPMorgan
Accprding to the fund's prospectus --
https://www.franklintempleton.com/forms-literature/download/FGLD_P
-- the fund's gold custodian is JPMorgan in London, its gold is not insured, only "authorized participants" and not ordinary shareholders may redeem shares for metal, and the fund's initial authorized participant is JPMorgan Securities. How responsible!
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Franklin Templeton Launches Franklin Responsibly Sourced Gold ETF
By James Comtois
Franklin Templeton Investments
San Mateo, California
Thursday, June 30, 2022
Franklin Templeton today announced the launch of the Franklin Responsibly Sourced Gold ETF (NYSE Arca: FGLD). FGLD seeks to reflect the performance of the price of gold bullion, less the expense of fund operations, and is priced at 15 basis points. The shares will trade on NYSE Arca.
The fund defines "responsibly sourced gold" as London Good Delivery gold bullion bars that were refined on or after January 1, 2012, which have been refined in accordance with London Bullion Market Association's Responsible Gold Guidance. The LBMA's Responsible Gold Guidance establishes minimum requirements that are mandatory along the entire gold supply chain for all Good Delivery refiners wishing to trade with the London bullion market, intended to ensure, among other things, that London Good Delivery gold is mined through verified supply chains that meet certain internationally recognized ethical standards.
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First Majestic Produces Silver and Gold in the United States and Mexico
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company owns and operates the San Dimas silver and gold mine, the Jerritt Canyon gold mine, the Santa Elena silver and gold mine, and the La Encantada silver mine. In 2022 these mines are projected to produce between 32.2 to 35.8 million ounces of silver equivalent with an all-in sustaining cost of $16.79 to $18.06 per payable silver-equivalent ounce.
For more information about the company, visit:
https://www.firstmajestic.com/
The company offers a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at First Majestic's bullion store at some of the lowest possible premiums:
https://store.firstmajestic.com/
"We are excited to offer FGLD as one of the most cost-effective gold ETFs in the market," said David Mann, head of global exchange traded funds capital markets, in a news release. "We believe it’s a fantastic option for investors looking to add gold investments to their portfolios, offering a compelling way to participate in the physical gold market, with the added peace of mind of knowing that this gold is responsibly sourced.": ...
... For the remainder of the announcement:
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Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
https://neworleansconference.com/
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
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