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Daily Dispatches
Barrick welcomes Papua New Guinea court decision ordering negotiations over mine
Submitted by cpowell on Fri, 2020-05-01 19:25 Section: Daily DispatchesFrom Reuters
Friday, May 1, 2020
SYDNEY -- Barrick Gold Corp. said today it welcomed a court ruling ordering the Papua New Guinea government to negotiate over a lease extension for the Porgera gold mine.
PNG Prime Minister James Marape said last week that the country would not grant the mine a 20-year operating extension due to environmental damage and social unrest.
CME Group has prepared for clearing member defaults for some years now
Submitted by cpowell on Fri, 2020-05-01 12:19 Section: Daily Dispatches12:18p ET Friday, May 1, 2020
Dear Friend of GATA and Gold:
Yesterday's MarketWatch report about the "credit facility" arranged by CME Group, operator of the major U.S. futures exchanges, to cover defaults by clearing members of its exchanges --
-- does not necessarily mean that any of its exchanges are at immediate risk of such defaults.
Ronan Manly: LBMA gold price benchmark ignores market conditions and shortchanges investors
Submitted by cpowell on Fri, 2020-05-01 00:47 Section: Daily DispatchesBy Ronan Manly
BullionStar.com, Singapore
Thursday, April 30, 2020
Iran is hauling gold bars out of Venezuela's almost-empty vaults
Submitted by cpowell on Fri, 2020-05-01 00:16 Section: Daily DispatchesBy Patricia Laya and Ben Bartenstein
Bloomberg News
Thursday, April 30, 2020
Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter.
Kitco analyst denies market manipulation but fails to address even one record of it
Submitted by cpowell on Thu, 2020-04-30 23:01 Section: Daily Dispatches11:18p ET Thursday, April 30, 2020
Dear Friend of GATA and Gold:
Comex operator prepares for clearing member default
Submitted by cpowell on Thu, 2020-04-30 20:51 Section: Daily DispatchesCME Group Secures $7 Billion Credit Facility to Protect Against a Clearing Member Default
By Tomi Kilgore
MarketWatch.com, New York
Thursday, April 30, 2020
https://www.marketwatch.com/story/cme-group-secures-7-billion-credit-fac...
Pam and Russ Martens: Chairman says Fed has only 'lending powers,' so how does it own trillions in securities?
Submitted by cpowell on Thu, 2020-04-30 12:20 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, April 30, 2020
Fed Chairman Jerome Powell had one focus and one focus only at yesterday's press conference. That was to come across as the epitome of prudence and law-abiding virtue. Unfortunately, the cold, hard facts on the ground keep getting in the way of that narrative.
Senate committee to act next week on embattled Fed nominee Shelton
Submitted by cpowell on Thu, 2020-04-30 12:12 Section: Daily DispatchesBy Alexander Bolton
The Hill, Washington
Tuesday, April 28, 2020
The Senate Banking Committee is expected to mark up Judy Shelton's nomination to the Federal Reserve next Tuesday, a signal she is expected to pass the panel along with Christopher Waller, another Fed nominee.
Jan Nieuwenhuijs: What caused the New York vs. London gold price spread and why it persists
Submitted by cpowell on Thu, 2020-04-30 12:01 Section: Daily Dispatches1201p ET Thursday, April 30, 2020
Dear Friend of GATA and Gold:
Voima Gold researcher Jan Nieuwenhuijs today examines why gold prices in London and New York have yet to consolidate and concludes that it likely involves the difficulty bullion banks are experiencing in closing short positions and the general retreat from gold trading that has been ordered by risk managers at the banks.
Zijin warns Papua New Guinea of China's anger over end of gold mine lease
Submitted by cpowell on Thu, 2020-04-30 11:09 Section: Daily DispatchesBy Tom Westbrook and Tom Daly
Reuters
Wednesday, April 29, 2020
China's Zijin Mining has warned Papua New Guinea that its failure to renew the lease of a gold mine it jointly owns with Barrick Gold Corp. there could damage bilateral relations.
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