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Daily Dispatches
Despite Russia's ties to China, Russian banks will sell rubles only for dollars, not yuan
Submitted by cpowell on Wed, 2019-06-05 11:40 Section: Daily DispatchesChina, Russia Urged to Continue Efforts to Defang U.S.-dollar Sanctions Weapon
By Laura Zhou
South China Morning Post, Hong Kong
Wednesday, June 5, 2019
Italy revives 'alternative currency' proposal
Submitted by cpowell on Wed, 2019-06-05 08:59 Section: Daily DispatchesBy Davide Ghiglione and Valentina Romei
Financial Times, London
Wednesday, June 5, 2019
Debate is growing in Italy about the suggestion that a new domestic currency could be introduced by the government to pay its debts -- and the possibility that Rome's Eurosceptic coalition might use it to facilitate the nation's departure from the euro.
Craig Hemke at Sprott Money: Fed policy reversal is imminent
Submitted by cpowell on Tue, 2019-06-04 21:22 Section: Daily Dispatches9:21p ET Tuesday, June 4, 2019
Dear Friend of GATA and Gold:
China looks beyond U.S. Treasuries for dollar investments
Submitted by cpowell on Tue, 2019-06-04 21:09 Section: Daily DispatchesBy Abhinav Ramnarayan, Virginia Furness
Reuters
Tuesday, June 4, 2019
LONDON -- China may be expanding its investments beyond U.S. Treasuries into debt issued by top-rated European and other government agencies, allowing it to keep its money in dollar assets while picking up some extra yield, bankers with knowledge of the matter say.
India's gold imports in May jumped 49% on festive demand
Submitted by cpowell on Tue, 2019-06-04 21:03 Section: Daily DispatchesBy Aftab Ahmed and Rajendra Jadhav
Reuters
Tuesday, June 4, 2019
India's gold imports in May jumped 49 percent from a year earlier to 116 tonnes as a correction in local prices during a key festival boosted retail demand, a government source said today.
Deutsche Bank gets to keep gold swapped by Venezuela
Submitted by cpowell on Tue, 2019-06-04 20:59 Section: Daily DispatchesVenezuela Defaults on Gold Swap with Deutsche Bank
By Patricia Laya
Bloomberg News
Tuesday, June 4, 2019
Venezuela has defaulted on a gold swap agreement valued at $750 million with Deutsche Bank AG, prompting the lender to take control of the precious metal which was used as collateral and close out the contract, according to two people with direct knowledge of the matter.
Russian banks consider exporting more gold
Submitted by cpowell on Tue, 2019-06-04 20:53 Section: Daily DispatchesBy Elena Mazneva and Yuliya Fedorinova
Bloomberg News
Tuesday, June 4, 2019
Russian banks are considering increasing gold exports after the central bank said it would buy gold only at a discount, a move that could pressure global bullion prices.
Bitcoin rally masks uncomfortable fact: Almost nobody uses it for spending
Submitted by cpowell on Mon, 2019-06-03 20:19 Section: Daily DispatchesBy Olga Kharif
Bloomberg News
Monday, June 3, 2019
Bitcoin has a lingering problem that few people are talking about amid the renewed exuberance of the recent price surge.
Hardly anyone is using the world's largest cryptocurrency for anything beyond speculation.
Ronan Manly: China's physical gold market still firing on all cylinders
Submitted by cpowell on Mon, 2019-06-03 20:12 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Monday, June 3, 2019
While headlines may be on the Sino-U.S. trade war, China's gold market continues to fire on all cylinders, with physical gold continuing to flow into, and through, the world's largest gold hub.
Gold and silver have broken out of downtrends, Turk tells KWN
Submitted by cpowell on Mon, 2019-06-03 14:06 Section: Daily Dispatches2:07p ET Monday, June 3, 2019
Dear Friend of GATA and Gold:
GoldMoney founder James Turk tells King World News today that physical demand for gold in London is strong, both gold and silver have broken sharply out of their downtrends, and silver has a lot of catching up to do. His comments are posted at KWN here:
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