Daily Dispatches

Frozen in time: the miraculous gold rush movies buried under the Yukon ice

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By Christina Newland
The Guardian, London
Friday, July 28, 2017

In 1978 in northwest Canada’s Yukon territory, construction on a new recreation centre was under way in a small rural settlement called Dawson City.

'Pretty much ever since Australia sold its gold, it's been on the up'

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Gold's Demise Bar None. ... Well, Four

By Paul Garvey
The Australian, Sydney
Saturday, July 29, 2017

In a vault deep in the basement of the Reserve Bank's Martin Place headquarters in Sydney sits a hoard of gold bars worth about $US500,000 each — all four of them.

China's first-half gold output falls while purchases rise

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From Reuters
via The Times of India, Mumbai
Friday, July 28, 2017

BEIJING -- China's gold output fell by 9.85 percent from a year ago to 206.542 tonnes in the first half of 2017, state media said Friday, citing data from the China Gold Association.

IMF says dollar overvalued, euro, yen, yuan in line with fundamentals

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By David Lawder
Reuters
Friday, July 28, 2017

WASHINGTON -- The International Monetary Fund said Friday the U.S. dollar is overvalued by 10 percent to 20 percent, based on U.S. near-term economic fundamentals, while it viewed valuations of the euro, Japan's yen, and China's yuan as broadly in line with fundamentals.

EU explores account freezes to prevent runs at failing banks

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By Francesco Guarascio
Reuters
Friday, July 28, 2017

BRUSSELS -- European Union states are considering measures that would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs, an EU document reviewed by Reuters revealed.

India's falling trade deficit allows reducing gold import tax, govt. official says

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From Reuters
Thursday, July 27, 2017

MUMBAI -- India's falling trade deficit is giving the world's second-biggest gold consumer room to lower its import duty on bullion, a commerce ministry official said Thursday.

Bullion Star's gold market charts for July

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1p ET Thursday, July 27, 2017

Dear Friend of GATA and Gold:

Gold market charts for July have been posted by Bullion Star and they show demand strong around the world except for the exchange-traded fund GLD, which perhaps is being shorted to help supply metal elsewhere. Bullion Star's charts are here:

https://www.bullionstar.com/blogs/gold-market-charts/gold-market-charts-...

LIBOR to end in 2021 as regulator says bank benchmark is untenable

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By Suzi Ring
Bloomberg News
Thursday, July 27, 2017

Libor, the benchmark underpinning more than $350 trillion of financial products, will be phased out by the end of 2021 as U.K. regulators and banks look to replace the scandal-tarred indicator with a more reliable system.

Bullion Star: China's secretive accumulation of gold on the international market

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9:40p ET Wednesday, July 26, 2017

Dear Friend of GATA and Gold:

Bullion Star today reviews the evidence that China has been accumulating much more gold as semi-official reserves than the country has been reporting. Bullion Star's analysis is headlined "People's Bank of China Gold Purchases: Secretive Accumulation on the International Market" and it's posted at Bullion Star here:

Bankers ditch fat salaries to chase digital currency riches

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By Lulu Yilun Chen and Camila Russo
Bloomberg News
Tuesday, July 25, 2017

Richard Liu gave up a seven-figure salary this month to get into one of the hottest financial instruments around right now: initial coin offerings. The former China Renaissance deal maker has since backed a clutch of cryptocoin sales that have raised millions -- sometimes in seconds -- often without a single product.

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