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Daily Dispatches
Busted metals traders distract from larger manipulation problem
Submitted by cpowell on Tue, 2015-05-26 22:14 Section: Daily Dispatches10:14p ET Tuesday, May 26, 2015
Dear Friend of GATA and Gold:
China's currency 'no longer undervalued,' IMF says, clearing entry to SDRs
Submitted by cpowell on Tue, 2015-05-26 21:02 Section: Daily DispatchesBy Tom Mitchell and Shawn Donnan
Financial Times, London
Tuesday, May 26, 2015
The International Monetary Fund has declared that China's currency is "no longer undervalued," marking a significant shift after more than a decade of criticism of Beijing's tight management of the renminbi.
Gold smuggling in India rises 900% to record
Submitted by cpowell on Tue, 2015-05-26 20:51 Section: Daily DispatchesGold Smuggling at All-Time High, Seizures Total Rs 1,000 Crore
By Deeptiman Tiwary
The Times of India, Mumbai
Wednesday, May 27, 2015
Russia acquires gold as defense against 'political risks,' central banker explains
Submitted by cpowell on Tue, 2015-05-26 20:35 Section: Daily DispatchesBy Elena Fabrichnaya and Alexander Winning
Reuters
Tuesday, May 26, 2015
Russia is increasing its gold holdings because gold is a reserve asset free from legal and political risks, a senior central banker said on Tuesday.
Koos Jansen: Chinese gold demand is stronger than ever but not THAT strong
Submitted by cpowell on Tue, 2015-05-26 10:54 Section: Daily Dispatches10:50a ET Tuesday, May 26, 2015
Dear Friend of GATA and Gold:
Gold demand in China as signified by offtake from the Shanghai Gold Exchange is stronger than ever, gold researcher and GATA consultant Koos Jansen reports today, but he adds that he is more than skeptical of a recent report in Taiwan's China Times --
TF Metals Report: Bullion banks now short 350% of all Comex gold and silver stocks
Submitted by cpowell on Mon, 2015-05-25 23:49 Section: Daily Dispatches11:51p ET Monday, May 25, 2015
Dear Friend of GATA and Gold:
China sets up gold fund as part of 'Silk Road' initiative, official media say
Submitted by cpowell on Mon, 2015-05-25 09:48 Section: Daily DispatchesBy Ruby Lian and A. Ananthalakshmi
Reuters
Monday, May 25, 2015
China has established a fund that is expected to raise about $16 billion for gold-related investment as part of its "Silk Road" initiative to develop trade and transport infrastructure across Asia and beyond, official media reported.
Businesses turn to dollar in fiercely anti-American Venezuela as currency crashes
Submitted by cpowell on Mon, 2015-05-25 09:42 Section: Daily DispatchesBy Hannah Dreier
Associated Press
via Minneapolis Star-Tribune
Saturday, May 24, 2015
CARACAS, Venezuela -- It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. Just not in the country's official currency.
Governments keep metals down to avert 'derivatives nightmare,' Murphy says
Submitted by cpowell on Sun, 2015-05-24 21:40 Section: Daily Dispatches9:40p ET Sunday, May 24, 2015
Dear Friend of GATA and Gold:
Banks brace for more FX-rigging pain as civil lawsuits come forth
Submitted by cpowell on Sat, 2015-05-23 21:04 Section: Daily DispatchesBy James Titcomb
The Telegraph, London
Saturday, May 23, 2015
Banks are bracing for hundreds of millions of pounds in new claims for foreign exchange manipulation from class-action lawsuits triggered by last week's vast market rigging fines.
Barclays, Royal Bank of Scotland, and four other banks were ordered on Wednesday to pay $6 billion (L3.84 billion) by UK and US authorities.
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