Daily Dispatches

Philadelphia is first U.S. city to ban cashless stores

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By Scott Calvert
The Wall Street Journal
Thursday, March 7, 2019

Philadelphia is the first major U.S. city to ban cashless stores, placing it at the forefront of a debate that pits retail innovation against lawmakers trying to protect all citizens' access to the marketplace.

China's gold reserves continue to grow in February

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The news here isn't the tiny increase in China's gold reserves but that the People's Bank of China has announced increases for three months straight after years of reporting no change.

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China's Gold Reserves Continue to Grow in February

From Xinhua News Agency, Beijing
Thursday, March 7, 2019

Futures exchange operator renews discounts for secret trading by governments and central banks

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11:36a ET Thursday, March 7, 2019

Dear Friend of GATA and Gold:

Market manipulation by governments and central banks is right out in the open again, hiding in plain sight in the confidence that mainstream financial news organizations, financial letter writers, and gurus who purport to bring "technical analysis" to bear on markets will avert their gaze.

Gold swaps by BIS rose by 56 tonnes in February

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By Robert Lambourne
Thursday, March 7, 2019

The recent monthly statements of account published by the Bank for International Settlements indicate that the bank is still actively trading gold swaps, which the bank uses to gain access to gold held by commercial banks.

GATA secretary to speak at conferences in Singapore and Hong Kong

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2:24p ET Wednesday, March 6, 2019

Dear Friend of GATA and Gold:

Your secretary/treasurer will speak at the annual Mining Investment Asia conference in Singapore from March 26-28 and the annual Mines and Money Asia conference in Hong Kong from April 2-4.

Top Barrick shareholder urges joint venture in Nevada with Newmont, not full merger

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By Ernest Scheyder and Liana B. Baker
Reuters
Tuesday, March 5, 2019

Barrick Gold Corp.'s top shareholder said Tuesday the miner should focus on striking a joint venture deal in Nevada with rival Newmont Mining Corp. before considering a full-blown merger.

Leftist New Statesman attacks gold advocates and Germany's gold repatriation leader

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11:30a ET Wednesday, March 6, 2019

Dear Friend of GATA and Gold:

Higher U.S. rates creating carry trade supporting dollar

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Watching Global Flows Explains Why the Dollar Won't Be Kept Down

By Liz McCormick
Bloomberg News
Wednesday, March 6, 2019

The dollar's resilience after what some have categorized as the most dovish Federal Reserve turnaround in history comes as little surprise to Exante Data's Jens Nordvig.

Venezuelan opposition asks Citibank to delay gold repurchase

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By Mayela Armas
Reuters
Tuesday, March 5, 2019

CARACAS, Venezuela -- Opposition leader Juan Guaido has asked Citibank to delay by 120 days Venezuela's scheduled repurchase of gold that President Nicolas Maduro's government put up as collateral for a loan in 2015, three members of the team advising Guaido said.

Ronan Manly: Romania joins gold repatriation exodus

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9:26p ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly today examines the effort in Romania's parliament to repatriate the country's gold reserves from the Bank of England and concludes that it opens a new front between democracy and the arrogance and unaccountability of the central bank.

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