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Daily Dispatches
Top gold market freezes as Chinese shoppers stay away
Submitted by cpowell on Tue, 2020-03-31 23:03 Section: Daily DispatchesBy Annie Lee and Jinshan Hong
Bloomberg News
Tuesday, March 31, 2020
The coronavirus pandemic has frozen the Chinese gold market, torpedoing demand at a time when investors elsewhere in the world are clamoring for the safety of bullion.
Fidelity shuts three Treasury funds to new investors
Submitted by cpowell on Tue, 2020-03-31 19:39 Section: Daily DispatchesBy Joe Rennison and Colby Smith
Financial Times, London
Tuesday, March 31, 2020
Fidelity said it would stop accepting new money into three money market funds that invest in U.S. Treasuries, as it sought to protect current investors from the dramatic decline in interest rates since the outbreak of coronavirus.
Pam and Russ Martens: New York Fed will keep bailout details secret this time
Submitted by cpowell on Tue, 2020-03-31 17:08 Section: Daily Dispatches5:10p ET Tuesday, March 31, 2020
Dear Friend of GATA and Gold:
The Federal Reserve Bank of New York, Pam and Russ Martens of Wall Street on Parade report today, is structuring its latest financial bailout so recipients of government largesse may never been revealed even as taxpayers will be liable for losses.
Craig Hemke at Sprott Money: The CME opens Pandora's box
Submitted by cpowell on Tue, 2020-03-31 16:58 Section: Daily Dispatches5p ET Tuesday, March 31, 2020
Dear Friend of GATA and Gold:
Big deliveries of gold suddenly are being sought on the New York Commodities Exchange, the TF Metals Report's Craig Hemke writes today at Sprott Money, adding that it's questionable that the exchange can fulfill its obligations as gold demand soars and mines, refineries, and mints close under the pressure of the virus epidemic.
First Majestic's Keith Neumeyer: Miners should stop supplying the Comex
Submitted by cpowell on Tue, 2020-03-31 13:21 Section: Daily Dispatches1:26p ET Tuesday, March 31, 2020
Dear Friend of GATA and Gold:
Dave Kranzler: The Comex has defaulted on gold
Submitted by cpowell on Tue, 2020-03-31 13:04 Section: Daily Dispatches1:05p ET Tuesday, March 31, 2020
Dear Friend of GATA and Gold:
Elaborating on Bullion Star analyst Ronan Manly's report today on the use by the New York Commodities Exchange of futures contracts that offer 400-ounce gold bars when there are none in the Comex system --
Ronan Manly: Comex can't find a 400-ounce gold bar for its new 400-ounce futures contract
Submitted by cpowell on Tue, 2020-03-31 12:17 Section: Daily Dispatches12:21p ET Tuesday, March 31, 2020
Dear Friend of GATA and Gold:
Fed will 'temporarily' monetize foreign-held U.S. Treasuries
Submitted by cpowell on Tue, 2020-03-31 11:16 Section: Daily DispatchesFed Sets Up Scheme to Meet Booming Foreign Demand for Dollars
By James Politi, Brendan Greeley, and Colby Smith
Financial Times, London
Tuesday, March 31, 2020
Employee of U.S. Mint at West Point has virus, prompting temporary shutdown
Submitted by cpowell on Mon, 2020-03-30 20:39 Section: Daily DispatchesFrom Silver Doctors / SD Bullion
Ottawa Lake, Michigan
Monday, March 30, 2020
A police officer at the U.S. Mint at West Point, New York, has tested positive for Covid-19 and now the mint has temporarily shut down.
In an email forwarded to us today, we can confirm that the mint is temporarily being shut down.
... Dispatch continues below ...
Russia will stop purchases of domestic gold
Submitted by cpowell on Mon, 2020-03-30 12:40 Section: Daily DispatchesBy Yuliya Fedorinova and Elena Mazneva
Bloomberg News
Monday, March 30, 2020
Russia's central bank, the world's biggest bullion buyer, will stop domestic gold purchases starting next month.
The central bank didn't explain the move, saying only that future decisions will depend on the state of financial markets, according to a statement released today.
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