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Daily Dispatches
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:
How to invest in gold and pay no capital gains tax in the UK
Submitted by cpowell on Sun, 2019-06-02 21:14 Section: Daily DispatchesBy Adam Williams
The Telegraph, London
Sunday, June 2, 2019
In turbulent times, investors traditionally turn to gold. Its appeal is a lack of correlation between its price and those of other assets. But gold is often held for decades, often leading to a hefty tax bill when the owner comes to sell.
Does China have enough U.S. dollars to survive the trade war?
Submitted by cpowell on Sat, 2019-06-01 22:58 Section: Daily DispatchesBy Karen Yeung
South China Morning Post, Hong Kong
Friday, May 30, 2019
The Chinese government is officially sitting on the world's largest stockpile of foreign exchange reserves, but it has been scrambling recently to block backchannels for capital outflows as trade tensions with the United States increase.
Dawson City tourism group plans to scatter gold to trigger second gold rush
Submitted by cpowell on Sat, 2019-06-01 22:48 Section: Daily DispatchesBy Sidney Cohen
Canada Broadcasting Corp., Toronto
Saturday, June 1, 2019
A Dawson City tourism group wants to reboot the most storied period in Yukon's history.
The Klondike Visitors Association is pitching Gold Rush 2: a tourism campaign that would offer a gold-rush-esque experience to visitors of the town famous for wealth and debauchery at the turn of the century.
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