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Daily Dispatches
China now has 7 of world's 10 biggest banks as Beijing's financial ambitions grow
Submitted by admin on Fri, 2026-07-10 10:21 Section: Daily DispatchesBy Chelsea Yang
South China Morning Post, Hong Kong
Thursday, July 9, 2026
China's "big four" state-run banks are the largest in the world in terms of asset scale, a new report has found, underscoring Beijing's rising ambitions to build the country into a global financial powerhouse.
The ranking, released by The Banker magazine on Wednesday, was topped by the four Chinese banks -- Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China -- with JPMorgan Chase following in fifth place.
BIS gold swaps fell slightly in June but remain in rising trend
Submitted by admin on Thu, 2026-07-09 18:42 Section: Daily Dispatches6:45p ET Thursday, July 9, 2026
Dear Friend of GATA and Gold:
Gold swaps undertaken by the Bank for International Settlements fell slightly in June, from 146 to 144 tonnes, GATA consultant Robert Lambourne reported today after the bank's statement of account for June was published:
U.S. isn't the only government that falsifies economic data
Submitted by admin on Wed, 2026-07-08 11:25 Section: Daily DispatchesOutspoken Chinese Economist Who Doubted Official GDP Data Dies
By Joe Leahy
Financial Times, London
Wednesday, July 8, 2026
The death of a prominent Chinese economist who openly questioned official GDP data has prompted an outpouring of mourning for a figure many saw as a "daring truth teller" in a country intolerant of independent voices.
Gao Shanwen, former economist of SDIC Securities, a government-controlled investment group, passed away at the age of 55 "due to illness," the state-owned Shanghai Securities News reported.
India silver import curbs create shortages, push premiums to six-month high
Submitted by admin on Wed, 2026-07-08 11:08 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Wednesday, July 8, 2026
MUMBAI -- India's restrictions on silver imports have created shortages in the world's biggest market for the precious metal, pushing premiums to their highest levels in six months despite weaker-than-usual demand.
Lower imports by India, which meets more than 80% of its silver demand through overseas purchases, could weigh on global prices, while helping narrow the country's trade deficit and ease pressure on its rupee currency.
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Gold is getting a new shine amid volatile geopolitics
Submitted by admin on Wed, 2026-07-08 10:59 Section: Daily DispatchesBy Chris Anstey and Augusta Saraiva
Bloomberg News
Wednesday, July 8, 2026
Sometime during the crash in the price of gold in the mid-2010s, one veteran financial-market journalist declared that "this is the moment when the world realized gold isn't a financial asset." Famous last words, as they say.
Tanzania's central bank bought 28 tons of gold over past 18 months for reserves
Submitted by admin on Wed, 2026-07-08 10:52 Section: Daily DispatchesFrom Reuters
Wednesday, July 8, 2026
DAR ES SALAAM -- Tanzania's central bank has bought about 28 metric tons of gold over the past 18 months to bolster its international reserves and support the shilling currency, its governor, Emmanuel Tutuba, said.
Tutuba was quoted in a finance ministry statement as saying the purchased gold was worth $3.68 billion at current prices.
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China gold reserves rose in June the most since 2023 even as bullion tumbled
Submitted by admin on Tue, 2026-07-07 09:47 Section: Daily DispatchesBy Dylan Duan and Ryan Woo
Reuters
Tuesday, July 7, 2026
China's central bank reported its biggest monthly increase in gold reserves in more than 2 1/2 years in June, official data showed today, though bullion prices tumbled.
Hong Kong begins trial operation of gold clearing and settlement system
Submitted by admin on Tue, 2026-07-07 09:40 Section: Daily DispatchesEnoch Yiu, Julie Zhang and Wynna Wong
South China Morning Post, Hong Kong
Tuesday, July 7, 2026
Hong Kong inaugurated on Tuesday the trial operation of a gold clearing and settlement system, a step toward building the city into a trading hub and price-setter for the precious metal.
The decision was announced at the Hong Kong FIC & Bond Connect Summit by Chief Executive John Lee Ka-chiu, who hailed it as a "milestone."
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Citi to join 'club' of clearing banks controlling London gold market
Submitted by admin on Mon, 2026-07-06 20:04 Section: Daily DispatchesBy Leslie Hook
Financial Times, London
Monday, July 6, 2026
Citigroup is set to join the "club" of banks that control London's $200 billion-a-day physical bullion market, as the U.S. bank expands its reach into precious metals at a time of huge volatility for gold and silver.
The bank is the first new clearing member to join the biggest gold market in a decade, and will bring to five the total number of clearing banks approved by London Precious Metals Clearing Ltd.
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Gold market manipulation hasn't gone away and GATA still needs your help
Submitted by admin on Sun, 2026-07-05 10:30 Section: Daily Dispatches10:55a ET Wednesday, June 24, 2026
Dear Friend of GATA and Gold (and Silver):
The last year has been dramatic for the monetary metals. Sharp increases in price, indicative of short squeezes, have been offset by counterintuitive downward smashes even as a major war has broken out while another has intensified. News reports and analysis have emphasized the role of some central banks as major longs in the gold and silver markets but not the continuing role of other central banks on the short side in defense of their currencies and particularly the U.S. dollar.
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