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Daily Dispatches
China plans overseas warehouses for Shanghai Gold Exchange to build pricing power
Submitted by admin on Tue, 2025-04-22 14:01 Section: Daily DispatchesBy Amy Lv and Lewis Jackson
Reuters
Tuesday, April 22, 2025
BEIJING -- China is considering setting up overseas warehouses to aid international settlement of specific products on the Shanghai Gold Exchange, its central bank said Monday.
Shanghai Gold Exchange will be supported to conduct cooperation with overseas exchanges to expand use of the yuan benchmark in the international market, the statement said.
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Ross Beaty-backed Lumina Gold agrees to $581 million acquisition by China's CMOC
Submitted by admin on Tue, 2025-04-22 12:45 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Monday, April 21, 2025
Ross Beaty-backed Lumina Gold Corp. has agreed to be acquired by a subsidiary of China’s CMOC Group Ltd. for $581 million.
Vancouver-based Lumina is developing the Cangrejos gold project in Ecuador. In 2023 the company published an engineering study that showed the potential for a mine to produce 9.8 million ounces of gold, 7.8 million ounces of silver, and 1.1 billion pounds of copper over 26 years. The capital cost for the initial phase of the project was projected at US$925 million.
As the dollar falters, central banks tread a tightrope: Devalue their currency or not?
Submitted by admin on Tue, 2025-04-22 08:51 Section: Daily DispatchesBy Lee Ying Shan
CNBC, New York
Monday, April 21, 2025
The dollar has been sliding and the ripple effect on other currencies has brought a mix of relief and headache to central banks around the world.
Uncertainty about U.S. policymaking has led to a flight out of the U.S. dollar and Treasurys in recent weeks, with the dollar index weakening more than 9% so far this year. Market watchers see further declines.
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Gold derivatives system of price suppression is collapsing, GATA's Steer says
Submitted by admin on Sat, 2025-04-19 11:00 Section: Daily Dispatches11a ET Saturday, April 19, 2025
Dear Friend of GATA and Gold:
Interviewed this week by Liberty and Finance's Dunagun Kaiser, GATA board member Ed Steer, proprietor of Ed Steer's Gold and Silver Digest letter, says the sharp rise in gold's price and the frantic movements of gold around the world in recent months signify the collapse of the derivatives system of price suppression.
Steer adds that inventories of silver are "perilously low" and much higher prices are likely soon.
Trump to fast-track permitting for 10 mining projects, more promised
Submitted by admin on Sat, 2025-04-19 10:19 Section: Daily DispatchesBy Ernest Scheyder
Reuters
Friday, April 18, 2025
The White House on Friday said it will fast-track permitting for 10 mining projects across the United States as part of President Donald Trump's push to expand critical minerals production.
The projects -- which would supply copper, antimony, and other minerals -- have been granted FAST-41 status, a federal initiative launched in 2015 to streamline approvals of critical infrastructure.
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Trump's reported choice for next Fed chief revealed gold swaps to GATA ...
Submitted by admin on Fri, 2025-04-18 19:42 Section: Daily Dispatches... and complained in the Wall Street Journal about policy makers 'suppressing market prices they don't like':
https://www.gata.org/node/7819
https://www.gata.org/node/10839
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Trump Is Reported Planning to Replace Jerome Powell as Federal Reserve chairman with Former Fed Governor Kevin Warsh
By Bryan Mena and Elisabeth Buchwald
CNN, New York
via Yahoo News, Sunnyvale, California
Friday, April 18, 2025
Adam Sharp: The 'too crowded' gold trade has little public participation
Submitted by admin on Fri, 2025-04-18 19:24 Section: Daily DispatchesBy Adam Sharp
The Daily Reckoning, Baltimore
Friday, April 18, 2025
According to the latest survey of fund managers by Bank of America, 49% say gold is the most crowded trade.
This marks the first time in two years that the Magnificent 7 tech stocks did not top the "overcrowded" survey.
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GATA needs your help, and there's silver in it for you
Submitted by admin on Fri, 2025-04-18 19:18 Section: Daily Dispatches7:18p ET Friday, April 18, 2025
Dear Friend of GATA and Gold:
We are so close to victory now. Gold is all over mainstream financial news organizations now even as they strive not to expose the real reasons for the monetary metal's spectacular rise: the collapse of the derivatives-based gold price suppression system.
China will keep pushing up gold and soon will liberate silver, Maguire tells LFTV
Submitted by admin on Thu, 2025-04-17 22:35 Section: Daily Dispatches10:34p ET Thursday, April 17, 2025
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, interviewed by Shane Morand on Kinesis Money's "Live from the Vault" program this week, says unrelenting buying instigated or encouraged by China's government will continue to drive up the price of gold as the government unloads its U.S. Treasuries.
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Gold starts returning to Switzerland from U.S. after exclusion from tariffs
Submitted by admin on Thu, 2025-04-17 18:58 Section: Daily DispatchesFrom Reuters
Thursday, April 17, 2025
LONDON -- Gold, which traders have been flying to New York since December as a precaution against the possibility of broad U.S. tariffs hitting bullion imports, is being shipped back to Switzerland, where it came from, official data shows.
Swiss customs data today showed that the country's gold imports from the U.S. rose to a 13-month high of 25.5 metric tons in March, from 12.1 tons in February. Gold exports from Switzerland to the U.S. fell 32% month-on-month to 103.2 tons.
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