Last week's smash gained bullion banks little, Macleod tells KWN

Section:

2:05p ET Sunday, September 27, 2020

Dear Friend of GATA and Gold:

In comments at King World News, GoldMoney research director Alasdair Macleod says last week's smashing of gold by bullion banks in the futures market failed to produce enough selling to allow them to close many of their short positions.

Macleod writes: "The other side of the trade is no longer flighty hedge funds that rarely stand for delivery but the 'non-reportables,' which don't fit into the other categories and are presumably family offices and billionaires around the globe, sensitive to the consequences of monetary inflation."

... Dispatch continues below ...


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Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant...



The usually little-traded October gold contract on the New York Commodities Exchange, Macleod writes, still has nearly 118 tonnes' worth of contracts outstanding even as it expires this coming week. He considers the gold price explosive.

Macleod's comments are posted at KWN here:

https://kingworldnews.com/alasdair-macleod-big-money-aggressively-buying...

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

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