Shanghai pressures gold paper markets, and China remonetizes silver

Section:

8:48a ET Saturday, July 2, 2016

Dear Friend of GATA and Gold:

USAGold's July letter notes that the Shanghai Gold Exchange is almost entirely a physical market, that it seems to be putting pressure on gold derivatives markets in the West, and that China's purchases of silver have been rising dramatically lately, indicating that China sees silver as being just as much a monetary metal as gold. Of course for many decades China's primary money was silver. The USAGold letter is posted here:

http://www.usagold.com/publications/NewsViewsJuly2016.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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