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Daily Dispatches
Deutsche Bank exits commodities trading ... except for monetary metals
Submitted by cpowell on Thu, 2013-12-05 16:26 Section: Daily DispatchesDeutsche Bank Quits Commodities Under Regulatory Pressure
By David Sheppard and Ron Bousso
Reuters
Thursday, December 5, 2013
Deutsche Bank pulled the plug on its global commodities trading business on Thursday, cutting 200 jobs as it becomes the first major bank to exit the once lucrative sector due to toughening regulations and diminished profits.
China is mining gold at as much as $2,500 per ounce, Leeb tells KWN
Submitted by cpowell on Thu, 2013-12-05 16:03 Section: Daily Dispatches4p ET Thursday, December 5, 2013
Dear Friend of GATA and Gold:
Money manager Stephen Leeb tells King World News today that China is mining gold at a total cost of $2,000 to $2,500 per ounce, despite current futures prices of only half that, because China expects substantially higher prices. An excerpt from the interview is posted at the King World News blog here:
Got Gold Report: Unprecedented bullish indicator in gold futures trading data
Submitted by cpowell on Thu, 2013-12-05 08:12 Section: Daily Dispatches8:15a ET Thursday, December 5, 2013
Dear Friend of GATA and Gold:
Gene Arensberg's Got Gold Report has found an unprecedented bullish indicator in gold futures trading data from the U.S. Commodity Futures Trading Commission. His commentary is headlined "Rare Signal -- Producer Merchants Net Long Gold Futures" and it's posted here:
Grant Williams: Today's gold suppression will break just as London Gold Pool did
Submitted by cpowell on Wed, 2013-12-04 23:59 Section: Daily Dispatches12:02a ET Thursday, December 5, 2013
Dear Friend of GATA and Gold:
TF Metals Report: Courage and conviction
Submitted by cpowell on Wed, 2013-12-04 11:22 Section: Daily Dispatches11:21a ET Wednesday, December 4, 2013
Dear Friend of GATA and Gold:
Alasdair Macleod: Gold and interest rates
Submitted by cpowell on Wed, 2013-12-04 10:01 Section: Daily Dispatches10a ET Wednesday, December 4, 2013
Dear Friend of GATA and Gold:
At London conference Hathaway predicts implosion of paper gold
Submitted by cpowell on Wed, 2013-12-04 09:51 Section: Daily Dispatches9:45a ET Wednesday, December 4, 2013
Dear Friend of GATA and Gold:
EU Imposes E1.7 billion in fines on banks in rate-rigging scandal
Submitted by cpowell on Wed, 2013-12-04 08:39 Section: Daily DispatchesBy Chad Bray and Jack Ewing
The New York Times
Wednesday, December 4, 2013
BRUSSELS, Belgium -- The European Union has fined a group of global financial institutions, including for the first time two American banks, a combined 1.7 billion euros to settle charges they colluded to fix two benchmark interest rates.
Bullion smuggling outstrips narcotics to feed India's gold habit
Submitted by cpowell on Wed, 2013-12-04 08:30 Section: Daily DispatchesBy A. Ananthalakshmi and Siddesh Mayenkar
Reuters
Tuesday, December 3, 2013
Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.
Robin Bromby: Golden lining for yuan as China stocks up on price slump
Submitted by cpowell on Wed, 2013-12-04 08:24 Section: Daily DispatchesBy Robin Bromby
The Australian, Sydney
Monday, December 2, 2013
http://www.theaustralian.com.au/business/opinion/golden-lining-for-yuan-...
For gold to make it a 12th straight year of rising prices, the yellow metal would need to add $US427 an ounce between now and December 31.
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