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Daily Dispatches
Bullion banks prepare Comex pullback after virus snarl
Submitted by cpowell on Thu, 2020-05-28 12:24 Section: Daily DispatchesBy Peter Hobson
Reuters
Thursday, May 28, 2020
LONDON -- Gold trading banks are preparing to significantly reduce their positions on CME Group's Comex exchange in New York, nine people familiar with the plans said, shifting more trading to London and raising costs for thousands of investors.
March ructions deter bullion banks from gold futures
Submitted by cpowell on Thu, 2020-05-28 10:55 Section: Daily DispatchesBy Henry Sanderson
Financial Times, London
Thursday, May 28, 2020
https://www.ft.com/content/550d909a-2c24-47f6-9233-a0723601dd10
Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.
Nazi gold said buried near palace in Poland -- will LBMA hypothecate it by Friday?
Submitted by cpowell on Wed, 2020-05-27 23:42 Section: Daily Dispatches28 Tonnes of Nazi Gold Could Be Hidden Under 16th-Century Polish Palace
By Ed Wight and Stuart Dowell
Daily Mail, London
Wednesday, May 27, 2020
Twenty-eight tonnes of Nazi gold worth more than L1 billion may have been traced to the grounds of a palace in Poland after the location was mentioned in an SS diary.
Pam and Russ Martens: Fed admits corporate bond buying will be at least a 5-year bailout
Submitted by cpowell on Wed, 2020-05-27 23:25 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, May 27, 2020
On May 13 the House Financial Services' Subcommittee on Consumer Protection and Financial Institutions held a virtual roundtable with federal regulators. One of the regulators in attendance was the vice chair for supervision at the Federal Reserve, Randal Quarles.
U.N. willing to take Venezuelan gold from Bank of England for food, medical relief
Submitted by cpowell on Wed, 2020-05-27 22:32 Section: Daily DispatchesVenezuela Reaches Deal with U.N. to Buy Food, Medicine with Gold Held at Bank of England
By Deisy Buitrago
Reuters
Wednesday, May 27, 2020
CARACAS -- Venezuela has reached a deal with the U.N. Development Programme to direct part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said today.
Bloomberg says the Comex is stuck with too much gold
Submitted by cpowell on Wed, 2020-05-27 21:41 Section: Daily DispatchesNew York Gold Traders Are Drowning in a Glut They Helped Create
By Justina Vasquez
Bloomberg News
Wednesday, May 27, 2020
The New York gold market has been flipped on its head in just a couple of months, with a scramble for the metal turning into a glut.
Help GATA by subscribing to the Deepcaster market letter
Submitted by cpowell on Wed, 2020-05-27 21:38 Section: Daily Dispatches9:39p ET Wednesday, May 28, 2020
Dear Friend of GATA and Gold:
The weekly Deepcaster letter of investment and geopolitical intelligence, whose market analysis long has publicized GATA's research, has a special offer for GATA and its supporters.
Scotiabank takes $168 million hit as it shuts historic gold unit
Submitted by cpowell on Tue, 2020-05-26 21:26 Section: Daily DispatchesBy Jack Farchy
Bloomberg News
Tuesday, May 26, 2020
Bank of Nova Scotia has set aside C$232 million ($168 million) to cover the cost of winding down its historic precious metals unit as well as a potential settlement of U.S. investigations into the unit's trading activities.
Craig Hemke at Sprott Money: 'Real' interest rates weigh on Comex gold
Submitted by cpowell on Tue, 2020-05-26 21:16 Section: Daily Dispatches9:15p ET Tuesday, May 26, 2020
Dear Friend of GATA and Gold:
U.S. taps new tools to find fraud in volatile commodities market
Submitted by cpowell on Tue, 2020-05-26 13:52 Section: Daily DispatchesWhy not just call the trading room of the Federal Reserve Bank of New York and the Treasury Department's Exchange Stabilization Fund?
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By Chris Prentice
Reuters
Thursday, May 21, 2020
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