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Daily Dispatches
China resumes monthly gold buying to diversify reserves
Submitted by cpowell on Thu, 2016-07-07 21:14 Section: Daily DispatchesFrom Bloomberg News
Thursday, July 7, 2016
China, the world's biggest producer and consumer of gold, added about 500,000 ounces to central bank reserves in June, restarting monthly purchases to diversify holdings after taking a breather in May.
Alasdair Macleod: GoldMoney debit card proves gold remains money and provides choice
Submitted by cpowell on Thu, 2016-07-07 19:55 Section: Daily DispatchesUsing GoldMoney's Pre-loaded Cards
By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, July 7, 2016
At Goldmoney we have noticed that account holders sell gold to preload their Goldmoney cards when gold rises.
This makes sense. People are using their accounts as money, which is exactly what they should be doing.
Ambrose Evans-Pritchard: World faces deflation shock as China devalues faster
Submitted by cpowell on Thu, 2016-07-07 18:45 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, July 7, 2016
China has abandoned a solemn pledge to keep its exchange rate stable and is carrying out a systematic devaluation of the yuan, sending a powerful deflationary impulse through a global economy already caught in a 1930s trap.
Ted Butler: Turning of the tide?
Submitted by cpowell on Thu, 2016-07-07 13:38 Section: Daily Dispatches1:37p ET Thursday, July 7, 2016
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler writes today that chances are improving for a short squeeze in the monetary metals futures markets that will overpower the investment banks that long have been rigging prices. Butler's commentary is headlined "Turning of the Tide?" and it's posted at GoldSeek's companion site, SilverSeek, here:
Gold assets top 2,000 tons as the clamor for havens grows louder
Submitted by cpowell on Thu, 2016-07-07 08:24 Section: Daily DispatchesFrom Bloomberg News
Wednesday, July 6, 2016
Global gold holdings topped 2,000 metric tons for the first time in three years as the Brexit fallout and speculation that U.S. interest rates won't rise any time soon sent investors hunting for a haven.
Koos Jansen: Chinese gold demand 973 tonnes in first half of 2016
Submitted by cpowell on Wed, 2016-07-06 19:32 Section: Daily DispatchesBy Koos Jansen
BullionStar.com, Singapore
Wednesday, July 6, 2016
Chinese wholesale gold demand, as measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), reached a sizable 973 metric tonnes in the first half of 2016, down 7 percent compared to last year.
China's Silk Road said to consider offer for $2 billion Glencore mine
Submitted by cpowell on Wed, 2016-07-06 16:56 Section: Daily DispatchesBy Vinicy Chan
Bloomberg News
Wednesday, July 6, 2016
China's Silk Road Fund, a $40 billion pool set up to invest along the nation's ancient trade routes with Central Asia, is discussing a joint bid for Glencore Plc's gold mine in Kazakhstan, people with knowledge of the matter said.
TF Metals Report: The deepening fraud of Comex silver
Submitted by cpowell on Wed, 2016-07-06 16:35 Section: Daily Dispatches4:30p Wednesday, July 6, 2016
Dear Friend of GATA and Gold:
Forget Brexit -- China's currency is falling again
Submitted by cpowell on Wed, 2016-07-06 07:22 Section: Daily DispatchesBy Jethro Mullen
CNN, Atlanta
Tuesday, July 5, 2016
Turmoil triggered by Brexit may have masked a more troubling market move -- China's currency is falling again.
Since British voters' shock decision to leave the European Union, the yuan has lost 1.3 percent against the dollar.
Centerra Gold to buy Thompson Creek for $1.1 billion, a 32% premium
Submitted by cpowell on Tue, 2016-07-05 22:41 Section: Daily DispatchesBy Ian McGugan
The Globe and Mail, Toronto
Tuesday, July 5, 2016
Centerra Gold Inc. of Toronto, a miner looking for ways to lower its risk, has struck a US$1.1-billion deal to purchase Thompson Creek Metals Co. Inc., a Colorado-based miner seeking relief from a mountain of debt.
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