Daily Dispatches

Traders acquitted of FX rigging that banks admitted

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British 'Cartel' Traders Acquitted of Rigging Currency Market

By Bob Van Voris, Lananh Nguyen, and Chris Dolmetsch
Bloomberg News
Friday, October 26, 2018

Three British traders were acquitted of using an online chatroom to fix prices in the $5.1 trillion-a-day foreign exchange market, a blow to global efforts to police the industry.

China and Japan sign three-year FX swap deal amid U.S. trade tension

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By Tetsushi Kajimoto
Reuters
Friday, October 26, 2108

TOKYO -- Japan and China on Friday signed a currency swap arrangement of up to $30 billion -- the largest such bilateral deal concluded by Tokyo -- to strengthen financial stability and spur business activity in both countries, the Bank of Japan said. ...

China likely to slow yuan's slide to 7 per dollar, sources tell Reuters

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By Kevin Yao
Reuters
Friday, October 26, 2018

BEIJING -- China is likely to use its vast currency reserves to stop any precipitous fall through the psychologically important level of 7 yuan per dollar as it could risk triggering speculation and heavy capital outflows, policy insiders said.

Treasury official points finger at Turkey over Venezuelan gold trade

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By Lucas Robinson
Medill News Service
Wednesday, October 24, 2018

WASHINGTON -- The United States should publicize Turkey's involvement in the Venezuelan gold industry, a Treasury Department official said today.

Ted Butler: Why the frantic movement of silver at the Comex?

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1:12p ET Thursday, October 25, 2018

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler today marvels at the frantic movement of huge amounts of silver among the vaults of the New York Commodity Exchange, and wonders why it is happening and why it gets no notice from other market analysts.

Sri Lanka calls for global coalition to tackle rising dollar

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From Agence France-Presse
via Arab News, Riyadh, Saudi Arabia
Tuesday, October 23, 2018

COLOMBO, Sri Lanka -- Sri Lanka on Tuesday called for a "coalition of the willing" to help stabilize free-falling emerging market currencies around the globe, as the beleaguered rupee slumped to fresh lows.

Central banks to increase gold buying for first time since 2013

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By Rupert Rowling
Bloomberg News
Wednesday, October 24, 2018

Central banks are set to increase their purchases of gold in 2018 for the first time in five years as eastern European and Asian countries seek to diversify their reserves.

Craig Hemke at Sprott Money: Russia may not save price suppression in palladium this time

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9p ET Tuesday, October 23, 2018

Dear Friend of GATA and Gold:

Don't count on geopolitical tensions to support gold, Lundin cautions

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10:22a ET Tuesday, October 23, 2018

Dear Friend of GATA and Gold:

Interviewed this week by Maurice Jackson for Proven and Probable, Gold Newsletter editor Brien Lundin cautions against counting on geopolitical tensions to support monetary metals prices. Only monetary issues are likely to support monetary metals prices in the long term, Lundin says.

Looks like China will yield to U.S. sanctions on Iran

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Exclusive: As U.S. Sanctions Loom, China's Bank of Kunlun to Stop Receiving Iran Payments, Sources Say

By Chen Aizhu and Shu Zhang
Reuters
Tuesday, October 23, 2018

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