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Daily Dispatches
India's May gold imports surge 677% to $5.83 billion
Submitted by admin on Mon, 2022-06-06 10:53 Section: Daily DispatchesFrom Reuters
via The Hindu, Chennai
Monday, June 6, 2022
India's gold imports in May jumped 677% from a year ago to the highest level in a year as a correction in prices just before a key festival and wedding season boosted retail jewellery purchases, a government source said today.
Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, but the surge could increase India's trade deficit and put pressure on ailing rupee.
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Hedge fund sues LME for $456 million over nickel trade cancellations
Submitted by admin on Mon, 2022-06-06 10:38 Section: Daily DispatchesBy Selena Li and Eric Onstad
Reuters
Monday, June 6, 2022
U.S. hedge fund Elliott Associates is suing the London Metal Exchange (LME) for $456 million for cancelling nickel trades after chaotic trading in March that forced the exchange to suspend its nickel market, the LME said today.
The legal action piles more pressure on the exchange, which is being probed by regulators and is struggling to restore trust and volumes in its nickel market.
Strike ends as Sibanye and gold miners reach settlement
Submitted by admin on Fri, 2022-06-03 21:10 Section: Daily DispatchesBy Lisa Steyn
News24, Cape Town, South Africa
Friday, June 3, 2022
A three-month strike at Sibanye-Stillwater's gold operations was called off today after union members agreed to the company's latest offer.
Against a wage demand of R1,000 increase in each year of a three-year wage agreement, Sibanye workers have settled on an increase of R1,000 for the first year, a R900 increase in the second year and a R750 increase in the third year.
Jan Nieuwenhuijs: Austria's gold transfer from London is seven years overdue
Submitted by admin on Fri, 2022-06-03 12:03 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Thursday, June 2, 2022
A plan conceived by the Austrian central bank in 2015 to move 50 tonnes of their monetary gold from London to Switzerland has not been realized seven years later. Here is an introduction to what could possibly have happened.
Alasdair Macleod: Recession, prices, and the crackup boom
Submitted by admin on Thu, 2022-06-02 13:17 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, June 2, 2022
Initiated by monetarists, the debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into outright fears of the consequences of monetary tightening and of interest rate overkill.
New 'In Gold We Trust' report shows why gold should be way up, not why it isn't
Submitted by admin on Thu, 2022-06-02 11:13 Section: Daily Dispatches11:18a ET Thursday, June 2, 2022
Dear Friend of GATA and Gold:
The new annual "In Gold We Trust" report from financial house Incrementum's Ronald-Peter Stoferle and Mark J. Valek has been published, containing a zillion reasons why gold should be going way up in price but not much if anything about why it hasn't gotten there. For that information you're probably still stuck with GATA. (As the White Queen told Alice: "Jam tomorrow and jam yesterday, but never jam today.")
John Adams: Conquering silver market manipulation
Submitted by admin on Wed, 2022-06-01 12:57 Section: Daily Dispatches12:58p Wednesday, June 1, 2022
Dear Friend of GATA and Gold:
John Adams of As Good As Gold Australia writes that silver market manipulation goes beyond the futures markets to corrupt the physical market, where supply also is exaggerated by enterprises that sell claims to metal they don't actually possess.
Exposing this physical market manipulation, Adams writes, is crucial to establishing a free-market price for silver.
Adams' analysis is headlined "Conquering Silver Market Manipulation" and it's posted at his internet site, Adams Economics, here:
USAGold's June 'News & Views' letter sees 'the avalanche of history'
Submitted by admin on Wed, 2022-06-01 12:33 Section: Daily Dispatches12:32p Wednesday, June 1, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for June carries many brief excerpts from analysts who are seeing "regime change" in the markets as inflation rages and the Federal Reserve contemplates tightening the money supply.
The June edition is headlined "The Avalance of History" and it's posted at USAGold here:
Metals' fundamentals subverted by price controllers, GATA chairman tells GoldSeek Radio
Submitted by admin on Tue, 2022-05-31 22:36 Section: Daily Dispatches10:35p Tuesday, May 31, 2022
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, says that despite bullish fundamentals, nothing matters to gold and silver prices at the moment except what the price controllers -- the U.S. government and its agent bullion banks -- can get away with. The interview is 17 minutes long and can be heard at GoldSeek here:
South Africa's Gold Fields to buy Yamana Gold in $6.7 billion deal
Submitted by admin on Tue, 2022-05-31 10:39 Section: Daily DispatchesFrom Reuters
via CNBC, New York
Tuesday, May 31, 2022
South African miner Gold Fields today agreed to buy Canada-based precious metals miner Yamana Gold in an all-share deal, valuing the Toronto-listed company at $6.7 billion.
Gold Fields said its shareholders will own about 61% of the combined group, while Yamana Gold shareholders will own around 39% after the deal completes.
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