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Third gold market rigging settlement brings total payments to $152 million

Section: Documentation

By Dave Simpson, Rachel O'Brien, Dean Seal, Eric Kroh, and Jon Hill
Law360, New York
Saturday, November 13, 2021
 ·
LONDON -- Barclays Bank PLC, Scotiabank, Societe Generale, and the London Gold Market Fixing Ltd. agreed to pay $50 million to end claims that they illegally fixed prices on the gold market, the putative class of gold traders told a New York federal court Friday.

Three banks paying $50 million to settle antitrust claims they rigged London gold fix

Section: Documentation

From Bloomberg Law, New York
Monday, November 15, 2021

Barclays Plc, Societe Generale SA, Scotiabank, and London Gold Market Fixing Ltd. will pay a combined $50 million to end antitrust litigation over an alleged scheme to rig the gold "fix," a key pricing benchmark, according to a federal court filing in Manhattan.

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Robert Lambourne: BIS gold swaps fell slowly again in October

Section: Documentation

By Robert Lambourne
Wednesday, November 10, 2021

The recently released October statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc211031.pdf

-- contains information suggesting a decrease of about 24 tonnes in the bank's gold swaps, from 438 tonnes in September to 414 tonnes in October. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

Robert Lambourne: Small decline in BIS gold swaps in August

Section: Documentation

By Robert Lambourne
Saturday, October 23, 2021

The recently released September statement of account of the Bank for International Settlements -

https://www.bis.org/banking/balsheet/statofacc210930.pdf

— contains information suggesting a decrease of about 26 tonnes in the bank's gold swaps during August, from 464 tonnes to 438 tonnes.

This compares to the record high estimated at 552 tonnes as of February this year.

Chris Powell: Gold market manipulation update, October 2021

Section: Documentation

The images accompanying this presentation are posted here:

https://gata.org/sites/default/files/GATA%20NOLA%202021%2010%2012%20v4.pdf

* * *

Remarks by Chris Powell
Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday, October 19, 2021

IMAGE 1

Robert Lambourne: BIS gold swaps fell slightly in August but remain high

Section: Documentation

By Robert Lambourne
Sunday, September 12, 2021

The recently released August statement of account of the Bank for International Settlements -

https://www.bis.org/banking/balsheet/statofacc210831.pdf

— contains information suggesting a decrease of about 38 tonnes in the bank's gold swaps in August, from 502 tonnes to 464 tonnes. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

Robert Lambourne: BIS gold swaps rose back over 500 tonnes in June

Section: Documentation

By Robert Lambourne
Wednesday, August 11, 2021

The recently released July statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc210630.pdf

-- contains information that suggests an increase of about 31 tonnes in the bank's gold swaps in June, from 471 tonnes to 502 tonnes. 

This compares to the record high estimated at 552 tonnes as of February 25 this year.

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Robert Lambourne: BIS gold swaps fall in June by 46 tonnes to 471 tonnes

Section: Documentation

By Robert Lambourne
Wednesday, August 4, 2021

The recently released June statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc210630.pdf

-- contains information that suggests a decrease of about 46 tonnes in the bank’s gold swaps to 471 tonnes. This compares to the record high estimated at 552 tonnes as of February 25 this year. 

Robert Lambourne: BIS gold swaps rose in May despite approach of Basel 3 rules

Section: Documentation

By Robert Lambourne
Saturday, June 12, 2021

The recently released May statement of account of the Bank for International Settlements --

https://www.bis.org/banking/balsheet/statofacc210531.pdf

-- reports an increase of 45 tonnes in the bank's gold swaps to 517 tonnes. This follows declines in March and April 2021 from the record high estimated at 552 tonnes as of February 25, 2021.

The BIS seemingly remains an active trader of significant amounts of gold swaps on a regular basis.

Congressman presses Treasury secretary to disclose U.S. gold activities

Section: Documentation

From Money Metals News Service, Eagle, Idaho
Thursday, June 10, 2021

WASHINGTON -- As foreign governments reportedly accumulate gold and de-dollarize their sovereign wealth funds, a Republican congressman is asking tough questions of the U.S. Treasury about its secretive gold activities.

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