Daily Dispatches

World's ultra-wealthy go for gold amid stimulus bonanza

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By Brenna Hughes Neghaiwi and Simon Jessup
Reuters
Thursday, June 18, 2020

As stock markets roar back from the coronavirus-led rout, advisers to the world's wealthy are urging them to hold more gold, questioning the strength of the rally and the long-term impact of global central banks' cash splurge.

Regulators are kicking Scotiabank out of gold, London trader Maguire says

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12:51p ET Thursday, June 18, 2020

Dear Friend of GATA and Gold:

European Central Bank will pay banks not to shrink loan books

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Banks Borrow Record 1.31 Trillion Euros from ECB

By Balazs Koranyi
Reuters
Thursday, June 18, 2020

FRANKFURT, Germany -- Euro zone banks borrowed a record 1.31 trillion euros ($1.47 trillion) from the European Central Bank today, taking advantage of negative interest rates to meet growing demand for credit from companies hit by the deepest recession in living memory.

Perth Mint stops taking artisanal gold after sourcing allegations

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By Swati Verma
Reuters
Wednesday, June 17, 2020

Australia's Perth Mint, one of the world's biggest gold refiners, said it would stop processing metal from artisanal and small-scale miners after allegations that it took gold dug in Papua New Guinea using child labor and toxic mercury.

Craig Hemke at Sprott Money: Declining use of EFPs hints at demise of Comex

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10:24p ET Tuesday, June 16, 2020

Dear Friend of GATA and Gold:

The collapsing number of Comex gold futures contracts being resolved by the mysterious "exchange for physicals" mechanism may foretell the collapse of the Comex and the fractional-reserve gold banking system itself, the TF Metals Report's Craig Hemke writes today at Sprott Money.

Australian Financial Review: Perth Mint annually buys up to $200 million in 'conflict gold' from murderer

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By Angus Grigg
Australian Financial Review, Sydney
Thursday, June 11, 2020

https://www.afr.com/companies/mining/revealed-perth-mint-and-the-convict...

The Perth Mint, owned by the West Australian government, buys up to $200 million of "conflict gold" annually from a convicted killer in Papua New Guinea, a breach of its global accreditation and internal policies.

Bullion Star's Ronan Manly updates gold's struggle against the banks

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11:27a ET Monday, June 15, 2020

Dear Friend of GATA and Gold:

In a recent interview with a financial blogger in Singapore, Bullion Star gold researcher Ronan Manly updates the monetary metal's struggle against bullion banks and central banks to rise as it might be expected to do amid the economic turmoil around the world. It's posted at Bullion Star here:

Top primary silver mining industry production yield falls to lowest level ever

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By Steve St. Angelo
Money Metals News Service, Eagle, Idaho
Wednesday, June 10, 2020

The era of high-grade silver mines may be coming to an end.
Remarkably, the top primary silver miners' average yield fell to the lowest ever in 2019. Which begs the question: Will high-grade silver mines become extinct in the not-so-distant future?

Glint asks GATA Chairman Murphy: 'What's Your Gold Story?'

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12:25p ET Saturday, June 13, 2020

Dear Friend of GATA and Gold:

Gold vaulting and payment service Glint has begun at its internet site a series of autobiographical accounts titled "What's Your Gold Story?" and this week got GATA Chairman Bill Murphy to explain how he got into gold. You can find it here:

https://glintpay.com/en_us/inspiration/whats-your-gold-story-bill-murphy...

Jan Nieuwenhuijs: Why yield curve control by the Fed will be bullish for gold

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By Jan Nieuwenhuijs
Voima Gold, Helsinki, Finland
Saturday, June 13, 2020

On Wednesday, Fed Chair Jerome Powell stated he is considering “yield curve control.” Previously, in the 1940s, when the Federal Reserve controlled the yield curve, it created deeply negative real interest rates. If repeated today, this would cause the gold price to sky-rocket.

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