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Daily Dispatches
Ted Butler: The bonfire of the silver shorts
Submitted by admin on Thu, 2023-09-21 22:02 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Thursday, September 21, 2023
After 40 years of silver price manipulation and suppression on the Comex, the physical market has experienced a lack of production growth as well as enhanced demand brought about by too-low silver prices.
According to the immutable law of supply and demand, silver is now in a deepening physical shortage in which sharply higher prices are both required and inevitable.
Alasdair Macleod: There's a herd of elephants in the room
Submitted by admin on Thu, 2023-09-21 12:40 Section: Daily DispatchesBy Alasdair Macleod
Head of Research, GoldMoney
via Schiff Gold, White Plains, New York
Thursday, September 21, 2023
Among the many problems currencies and markets face, there is one which is undocumented: the eurodollar market, which is yet another very large elephant in the room. This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
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Ex-JPMorgan gold trader sentenced to six months in 'spoof' case
Submitted by admin on Thu, 2023-09-21 10:29 Section: Daily DispatchesBy Joe Deaux and Kim Chipman
Bloomberg News
Friday, September 15, 2023
A former JPMorgan Chase & Co. gold trader was ordered to serve six months behind bars for a fraud conviction tied to deceptive orders, the last criminal penalty imposed in a years-long spoofing saga at the bank.
Christopher Jordan was sentenced today in Chicago by U.S. District Judge Edmond Chang. Jordan was convicted in December for placing deceptive spoofing orders from 2008 to 2010 that witnesses testified were rampant among traders on JPMorgan's precious-metals desk.
Russia becomes UAE's top gold source after being shut out of West
Submitted by admin on Wed, 2023-09-20 13:25 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Wednesday, September 20, 2023
Russia became the United Arab Emirates’ top source of gold last year after Western countries imposed sanctions on supplies following the Kremlin’s invasion of Ukraine.
The UAE last year imported 96.4 tons of gold from Russia, more than any other country, according to the United Nations’ Comtrade database. That’s roughly a third of Russia’s annual mine production, and a more than 15-fold increase year-on-year in the UAE’s gold imports from the country.
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Swiss gold exports up in August due to higher shipments to India and China
Submitted by admin on Tue, 2023-09-19 16:16 Section: Daily DispatchesFrom Reuters
Tuesday, September 19, 2023
LONDON -- Swiss gold exports rose by 7.3% in August from July as higher deliveries to India and China offset lower supplies to Turkey, customs data showed today.
Switzerland is the world's biggest bullion refining and transit hub, while China and India are the largest consumer markets with local demand sensitive to high prices and time of the season.
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Bullion fund founder, monetary metals advocate Nick Barisheff dies
Submitted by admin on Tue, 2023-09-19 08:59 Section: Daily DispatchesBoard of Directors of BMG Group Inc., Announces the Passing of Industry Icon Nick Barisheff
Company Announcement
Monday, September 18, 2023
MARKHAM, Ontario, Canada -- The Board of Directors at BMG Group Inc. sadly informs the public of the passing of Nick Barisheff on Friday, September 15.
Nick Barisheff was the founder, chair, and CEO of BMG Group Inc.
The company extends its sincerest condolences to Nick's family and friends and mourns the loss of a great Canadian.
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China lifts temporary curbs on gold imports as renminbi recovers
Submitted by admin on Mon, 2023-09-18 08:41 Section: Daily DispatchesBy Cheng Leng and Harry Dempsey
Financial Times, London
Monday, September 18, 2023
China's central bank has lifted temporary curbs on gold imports that were imposed on some lenders in a bid to defend the renminbi but caused the price of the precious metal to rise in the country.
The spread between the Shanghai gold price and London hit a record $121 per troy ounce last Thursday, according to calculations based on public traded prices.
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Gold prices soar to record highs in Saudi market
Submitted by admin on Sun, 2023-09-17 18:09 Section: Daily DispatchesFrom Sammaa TV, Karachi, Pakistan
Sunday, September 17, 2023
In a remarkable turn of events, the Saudi Arabian gold market witnessed a substantial surge in gold prices, with the price of 24-karat gold per gram reaching an unprecedented high of 231.98 riyals.
This astonishing increase has left both experts and investors astounded, as the global economic landscape continues to evolve.
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Swiss propose referendum on nationalizing UBS
Submitted by admin on Sun, 2023-09-17 11:01 Section: Daily DispatchesBy Bastian Benrath
Bloomberg News
Sunday, September 17, 2023
A popular initiative in Switzerland wants to hold a vote on partially nationalizing UBS Group, the initiators wrote on their website.
The so-called banks initiative proposes to amend the Swiss constitution to say that "large banks of systemic importance are to be managed as joint stock companies with the confederation as majority shareholder in terms of share capital," according to the website.
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Another admission from the BIS that central banks rig the gold market
Submitted by admin on Sat, 2023-09-16 11:02 Section: Daily Dispatches11:08a Saturday, September 16, 2023
Dear Friend of GATA and Gold:
While central bank trading is a primary determinant of the price of gold and other currencies, gold market analysis seldom makes any reference to the broker that provides much camouflage for central bank gold trading: the Bank for International Settlements.
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