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Daily Dispatches
China announces gold reserve increase for sixth straight month
Submitted by cpowell on Sun, 2019-06-09 21:46 Section: Daily DispatchesChina Gold Reserves Climb for Sixth Month in May
By Alice Woodhouse
Financial Times, London
Monday, June 10, 2019
https://www.ft.com/content/ca50aa10-8b18-11e9-a1c1-51bf8f989972?desktop=...
China increased its gold purchases for the sixth month running in May, taking its total reserves to 1,916 tonnes, while the country's foreign exchange holdings defied expectations for a fall.
If GATA is doing the right thing, please consider helping us
Submitted by cpowell on Sun, 2019-06-09 12:05 Section: Daily Dispatches12:11p ET Sunday, June 9, 2019
Dear Friend of GATA and Gold:
For years GATA's officers have marveled among themselves that central banking's gold price suppression policy couldn't get more obvious, and each time we have been proven wrong. But in a way that may be an indicator of a certain amount of success for the organization.
The African nation built on gold loses its production crown to a rival
Submitted by cpowell on Sun, 2019-06-09 10:42 Section: Daily DispatchesBy Felix Njini
Bloomberg News
Sunday, June 9, 2019
The country that led global gold production for a century and extracted about half the bullion ever mined is now Africa's second-largest gold producer. Output is shrinking as operators capitulate to stubbornly high costs, regular strikes and the geological challenges of tapping the world's deepest mines.
John Looby: Putting America first may end dollar dominance
Submitted by cpowell on Sat, 2019-06-08 23:14 Section: Daily DispatchesBy John Looby
The Sunday Times, London
Sunday, June 9, 2019
https://www.thetimes.co.uk/edition/ireland/putting-america-first-may-end...
Putin says role of dollar should be reconsidered in world trade
Submitted by cpowell on Sat, 2019-06-08 11:28 Section: Daily DispatchesFrom Agence France-Presse
via The Business Times, Singapore
Friday, June 7, 2019
https://www.businesstimes.com.sg/government-economy/putin-says-role-of-d...
ST. PETERSBURG, Russia -- Russian leader Vladimir Putin on Friday renewed calls to revisit the role of the U.S. dollar in global trade and accused Washington of seeking to dominate the world.
Manipulation is when you stop manipulating, treasury secretary says
Submitted by cpowell on Sat, 2019-06-08 11:09 Section: Daily DispatchesChina Is Letting Value of Yuan Slide to Offset Trade War Tariffs, US Treasury Secretary Steven Mnuchin Says
By Karen Yeung
South China Morning Post, Hong Kong
Saturday, June 8, 2019
Intervention to support your currency isn't manipulation, Treasury secretary says
Submitted by cpowell on Sat, 2019-06-08 10:50 Section: Daily DispatchesIt just feels like manipulation. Are gold investors, mining companies, financial journalists, and "market analysts" getting the point yet? Will they ever ask about it?
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Mnuchin Says FX Tariff Push Isn't Shift to Weak Dollar Policy
By Saleha Mohsin
Bloomberg News
Saturday, June 8, 2019
Russia keen to sell yuan bonds to deepen ties with China and reduce dollar dependence
Submitted by cpowell on Fri, 2019-06-07 21:59 Section: Daily DispatchesBy Amanda Lee
South China Morning Post, Hong Kong
Friday, June 7, 2019
https://www.scmp.com/economy/china-economy/article/3013528/russia-keen-s...
Russia is again exploring selling yuan bonds to deepen its financial market connections with China and to boost trade in yuan and roubles to counter the dominance of the US dollar.
Having broken out in many currencies, gold will break out in dollar too, von Greyerz says
Submitted by cpowell on Fri, 2019-06-07 16:49 Section: Daily Dispatches4:49p ET Friday, June 7, 2019
Dear Friend of GATA and Gold:
Gold, Swiss gold fund manager Egon von Greyerz tells King World News today, already has broken out in many currencies and its breakout in U.S. dollar terms is coming. His comments are headlined "Alert: Greyerz Says We Are Now on the cusp of a Historic Breakout in the Gold Market" and it's posted at KWN here:
Dave Kranzler: Gold, silver, and the mining stocks are showing signs of life
Submitted by cpowell on Fri, 2019-06-07 16:43 Section: Daily Dispatches4:40p ET Friday, June 7, 2019
Dear Friend of GATA and Gold:
Just as the monetary metals and the shares of the companies that mine them are perking up, Dave Kranzler of Investment Research Dynamics writes today, the bullion banks are increasing their naked shorting in the futures market. But he thinks the metals and the shares just might break out over the next few months anyway.
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