Daily Dispatches

GATA Chairman Murphy discusses metals' astounding upward reversal Friday

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9:57p ET Saturday, July 9, 2016

Dear Friend of GATA and Gold:

In an interview with GoldSeek Radio's Chris Waltzek, GATA Chairman Bill Murphy discusses the astounding upward reversal of gold and silver Friday following the usual smashdown upon release of the U.S jobs report. The interview is nine minutes long and begin at the 35:05 mark at GoldSeek Radio here:

http://radio.goldseek.com/

China resumes monthly gold buying to diversify reserves

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From 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

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Using 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

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By 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?

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1:37p 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

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From 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

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By 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

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By 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

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4:30p Wednesday, July 6, 2016

Dear Friend of GATA and Gold:

Forget Brexit -- China's currency is falling again

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By 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.

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