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Daily Dispatches
Gold traders are paid not to redeem Comex EFPs, London sources say
Submitted by cpowell on Fri, 2020-03-27 11:55 Section: Daily Dispatches12:08p ET Friday, March 27, 2020
Dear Friend of GATA and Gold:
What the heck are those mysterious "exchange for physicals," the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?
Miners are back, so follow them with The Calandra Report and help GATA
Submitted by cpowell on Thu, 2020-03-26 22:52 Section: Daily Dispatches10:54p ET Thursday, March 25, 2020
Dear Friend of GATA and Gold:
Now that the monetary metals industry is suddenly back in business after a couple of weeks in which the metals were smashed in the futures markets to prepare the way for distribution of infinite money, financial letter writer Thom Calandra is renewing his generous offer to GATA supporters.
'There is no gold' -- Bullion dealers sell out in panic buying
Submitted by cpowell on Thu, 2020-03-26 01:30 Section: Daily DispatchesBy Brett Arends
MarketWatch.com, New York
Wednesday, March 25, 2020
https://www.marketwatch.com/story/there-is-no-gold-bullion-dealers-sell-...
If you think gold has jumped about 10 percent in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again.
The real price? Nearer $1,800 -- if you can get it.
Coronavirus shutdowns cause glitches in gold market
Submitted by cpowell on Thu, 2020-03-26 00:46 Section: Daily DispatchesBy Henry Sanderson
Financial Times, London
Thursday, March 26, 2020
https://www.ft.com/content/29246920-6e9c-11ea-89df-41bea055720b
Supply chain shutdowns caused by coronavirus have led to unprecedented disruptions in the gold market, as traders fear they cannot get hold of enough bullion to settle futures contracts traded in New York.
Distressed debt hits almost $1 trillion, nears 2008 peak
Submitted by cpowell on Thu, 2020-03-26 00:26 Section: Daily DispatchesBy Katherine Doherty
Bloomberg News
Wednesday, March 25, 2020
The amount of distressed debt in the United States has quadrupled in less than a week to nearly $1 trillion, reaching levels not seen since 2008 as the collapse of oil prices and fallout from the coronavirus shutters entire industries across the globe.
Gold market snarled by virus lockdown as world races for haven
Submitted by cpowell on Wed, 2020-03-25 20:15 Section: Daily DispatchesBy Jack Farchy and Justina Vasquez
Bloomberg News
Wednesday, March 25, 2020
The gold market is creaking, in the latest sign of how the coronavirus pandemic is causing chaos across financial markets.
Miners are back, so follow them with The Calandra Report and help GATA
Submitted by cpowell on Wed, 2020-03-25 12:38 Section: Daily Dispatches12:40p ET Wednesday, March 25, 2020
Dear Friend of GATA and Gold:
Now that the monetary metals industry is suddenly back in business after a couple of weeks in which the metals were smashed in the futures markets to prepare the way for distribution of infinite money, financial letter writer Thom Calandra is renewing his generous offer to GATA supporters.
London Gold Pool is collapsing again, Turk tells KWN
Submitted by cpowell on Wed, 2020-03-25 12:25 Section: Daily Dispatches12:28p ET Wednesday, March 25, 2020
Dear Friend of GATA and Gold:
The second iteration of the London Gold Pool is collapsing, GoldMoney founder and GATA consultant James Turk tells King World News today. This time, Turk says, there is no announcement from central banks. Instead "the markets are telling us what is happening."
Turk's comments are posted at KWN here:
Ronan Manly: LBMA colludes with the Comex -- to lock down the gold market?
Submitted by cpowell on Wed, 2020-03-25 11:55 Section: Daily Dispatches11:58a ET Wednesday, March 25, 2020
Dear Friend of GATA and Gold:
Reviewing the gold delivery difficulties acknowledged this week, Bullion Star researcher Ronan Manly concludes today that the problem is in London with members of the London Bullion Market Association, not with the New York Commodities Exchange, which seldom has had any metal in the first place.
World's rich struggle to get hold of gold in 'crazy' moment
Submitted by cpowell on Wed, 2020-03-25 11:25 Section: Daily DispatchesBy Benjamin Stupples
Bloomberg News
Wednesday, March 25, 2020
Ludwig Karl is stuck at home, worried about his elderly relatives. All the while his business is booming.
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