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Daily Dispatches
Ronan Manly: Why can't GLD's operator hold on to chief financial officers?
Submitted by cpowell on Wed, 2020-10-07 17:56 Section: Daily Dispatches5:58p ET Wednesday, October 7, 2020
Dear Friend of GATA and Gold:
Bullion Star gold researcher Ronan Manly reports today that World Gold Trust Services, which runs the exchange-traded fund GLD, has gone through six chief financial officers in six years, having just lost another one. Manly invites us to wonder why.
Craig Hemke: 'Spoofing' convictions won't end gold and silver market rigging
Submitted by cpowell on Wed, 2020-10-07 11:47 Section: Daily Dispatches11:50a ET Wednesday, October 7, 2020
Dear Friend of GATA and Gold:
Convicting bullion banks for "spoofing" the monetary metals markets won't end their market rigging, the TF Metals Report's Craig Hemke writes today at Sprott Money.
Join GATA in a week at the 'virtual' New Orleans Investment Conference
Submitted by cpowell on Wed, 2020-10-07 11:45 Section: Daily Dispatches11:47a ET Wednesday, October 7, 2020
Dear Friend of GATA and Gold:
As you may recall, this year's New Orleans Investment Conference, to be held Wednesday to Saturday, October 14 to 17, will be a "virtual" one, conducted entirely on the internet, so we'll miss the excitement of the great city.
Central banks are selling gold, FT reports -- or want markets to think so
Submitted by cpowell on Wed, 2020-10-07 11:19 Section: Daily DispatchesWith its report below the Financial Times assumes today that all official central bank gold-reporting data is accurate and complete, that central banks have no secrets about the monetary metal, and that they don't sometimes stash it in accounts not reported to the International Monetary Fund or World Gold Council.
Dave Kranzler: The price of gold when the dollar index hits 70
Submitted by cpowell on Tue, 2020-10-06 13:45 Section: Daily Dispatches1:47p ET Tuesday, October 6, 2020
Dear Friend of GATA and Gold:
While they are inversely correlated over the long term, gold and the U.S. dollar don't always behave consistently toward each other, Dave Kranzler of Investment Research Dynamics in Denver writes today. Indeed, Kranzler writes, since March gold has risen almost 32 percent while the dollar index has been largely unchanged.
USAGold's "News & Views" for October is posted
Submitted by cpowell on Tue, 2020-10-06 13:33 Section: Daily Dispatches1:30p ET Tuesday, October 6, 2020
Dear Friend of GATA and Gold:
USAGold's October "News & Views" letter has seven items of analysis you may have missed -- your secretary/treasurer missed at least two of them -- including comments by pro-gold fund manager Thomas Kaplan. It's posted in the clear here:
https://www.usagold.com/nv1023october2020/
CHRIS POWELL, Secretary/Treasurer
CFTC says new capacity to interpret trading data revived silver investigation
Submitted by cpowell on Tue, 2020-10-06 12:03 Section: Daily DispatchesJPMorgan Probe Was Revived by Regulators' Data Mining
By Dave Michaels
The Wall Street Journal
Monday, October 5, 2020
WASHINGTON -- Investigators probing whether traders at JPMorgan Chase rigged silver prices seven years ago decided there was no case to bring. Last week the same agency hammered the megabank with a $920 million fine.
Gold miner Northern Star buying Saracen for $4.1 billion
Submitted by cpowell on Mon, 2020-10-05 22:37 Section: Daily DispatchesFrom Reuters
Monday, October 5, 2020
Australian gold miner Northern Star Resources has offered to buy smaller peer Saracen Mineral Holdings in a A$5.76 billion ($4.14 billion) deal that will create a global top-10 gold miner by value.
In a joint statement, the boards of the companies recommended shareholders vote in favour of the proposal, in the absence of a superior offer.
Join GATA and great speakers Oct. 14-17 at the 'virtual' New Orleans conference
Submitted by cpowell on Mon, 2020-10-05 22:33 Section: Daily Dispatches10:35p ET Monday, October 5, 2020
Dear Friend of GATA and Gold:
As you may recall, this year's New Orleans Investment Conference, to be held Wednesday to Saturday, October 14 to 17, will be a "virtual" one, conducted entirely on the internet, so we'll miss the excitement of the great city.
Venezuela plans 100,000-bolivar bills worth just 23 U.S. cents
Submitted by cpowell on Mon, 2020-10-05 21:36 Section: Daily DispatchesThis wouldn't happen to the poor idiots if they just printed a world reserve currency.
* * *
By Patricia Laya and Fabiola Zerpa
Bloomberg News
Monday, October 5, 2020
Venezuela has begun to import banknote paper and is mulling plans to print bills with larger denominations as hyperinflation causes shortages of cash, according to six people with knowledge of the matter.
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