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Daily Dispatches
China scoops up more gold for reserves during trade war
Submitted by cpowell on Wed, 2019-08-07 09:49 Section: Daily DispatchesBy Ranjeetha Pakiam
Bloomberg News
Wednesday, August 7, 2019
There's a powerful constant amid the to-and-fro of the U.S.-China trade war as currency policy gets dragged into the standoff between the world's two top economies: Beijing wants more gold in its reserves.
Robbers steal millions in gold coins from Mexican mint
Submitted by cpowell on Wed, 2019-08-07 02:05 Section: Daily DispatchesFrom Deutsche Welle, Bonn, Germany
Tuesday, August 6, 2019
Mexico's security ministry announced today that an armed group of robbers broke into the nation's mint, stealing the equivalent of 50 million Mexican pesos (E2.23 million, $2.5 million) in gold coins.
The announcement came after sources from the Department of Finance and Public Credit confirmed the crime to news agency EFE.
China state banks seen supporting yuan in forwards market, sources tell Reuters
Submitted by cpowell on Tue, 2019-08-06 23:15 Section: Daily DispatchesBy Winni Zhou and Andrew Galbraith
Reuters
Tuesday, August 6, 2019
China's state banks have been active in the onshore yuan forwards market this week, using swaps to tighten dollar supply and support the Chinese currency, four sources with knowledge of the matter told Reuters.
Australia's 'As Good As Gold' brothers interview GATA chairman
Submitted by cpowell on Tue, 2019-08-06 17:17 Section: Daily Dispatches5:15p ET Tuesday, August 6, 2019
Dear Friend of GATA and Gold:
Darryl and Brian Panes of As Good As Gold Australia interviewed GATA Chairman Bill Murphy the other day, discussing the prospects for the monetary metals as the longstanding price suppression by central banks and their agents is showing signs of stress.
Craig Hemke at Sprott Money: Gold's next target
Submitted by cpowell on Tue, 2019-08-06 16:00 Section: Daily Dispatches4p ET Tuesday, August 6, 2019
Dear Friend of GATA and Gold:
Scientific discovery gives hope for monetary metals derivatives
Submitted by cpowell on Tue, 2019-08-06 08:43 Section: Daily DispatchesGet this right over to the Bank of England.
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World's Thinnest Gold 'Just Two Atoms Thick' Created in Lab
By Sean Keach
The Sun, London
Tuesday, August 6, 2019
Gold that is just two atoms thick has been created in a lab by British scientists.
Negative rates at Swiss banks seem to invite customers to move cash into gold
Submitted by cpowell on Tue, 2019-08-06 08:27 Section: Daily DispatchesUBS' Rich Clients to Feel Negative Rates Pain as Fees Extended
By Patrick Winters
Bloomberg News
Tuesday, August 6, 2019
UBS Group plans to expand a policy of charging rich clients for holding excess cash in their accounts as negative interest rates in Europe are poised to stay.
Soaring Japanese yen spurs speculation about stealth intervention
Submitted by cpowell on Tue, 2019-08-06 08:18 Section: Daily DispatchesBy Leo Lewis
Financial Times, London
Monday, August 5, 2019
The yen's surge beyond a key threshold against the U.S. dollar has sparked speculation among traders in Tokyo that Japan's $1.6 trillion government pension fund could engage in "stealth intervention" to soften the currency over coming weeks.
BRICs bank seeks move away from funding in dollars
Submitted by cpowell on Tue, 2019-08-06 08:10 Section: Daily DispatchesBy Tom Hancock
Financial Times, London
Monday, August 5, 2019
The New Development Bank, a lender owned by Brazil, India, Russia, China, and South Africa, is aiming to almost double its lending this year and shift its loan book away from the U.S. dollar to emphasize lending in local currencies.
Yuan's slide is watershed moment for China
Submitted by cpowell on Tue, 2019-08-06 08:04 Section: Daily DispatchesBy George Magnus
Bloomberg News
Tuesday, August 6, 2019
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