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Updated: 6 hours 44 min ago

Gold's move from West to East is said intended to rebalance FX reserves

Tue, 09/16/2014 - 09:26

China May Boost Gold Reserves amid Imbalances in Holdings

By Feiwen Rong and Glenys Smi
Bloomberg News
Monday, September 15, 2014

http://www.bloomberg.com/news/2014-09-15/biggest-banks-said-to-overhaul-...

China may join other emerging countries in boosting gold reserves as the precious metal makes up a smaller share of its foreign-exchange holdings compared with developed economies, said a London-based researcher.

The country hasn't announced any changes to state gold reserves since authorities in 2009 said holdings totaled 1,054.1 metric tons. While China holds the world's biggest foreign-exchange reserves, bullion accounts for 1.1 percent of the total, compared with about 70 percent for the U.S. and Germany, the biggest gold holders, World Gold Council data show.

... Dispatch continues below ...


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"It is clear that Western central banks over time will be reducing their reserves and China and other Asian countries will be increasing," David Marsh, managing director at the Official Monetary and Financial Institutions Forum, said in a Sept. 11 interview in Beijing. "Gold will become more traded among central banks in the next 30 years because there are colossal imbalances in world gold holdings as a percentage of overall asset reserves."

Central banks, net buyers of gold for 14 straight quarters, last year helped limit bullion's losses that were the most since 1981 and may increase purchases to as much as 500 tons this year after adding 409 tons last year, the London-based council said Aug. 14. The precious metal rose 3 percent this year as geopolitical tensions boosted demand for a haven.

Bullion for immediate delivery climbed 0.3 percent to $1,237.04 by 10:44 a.m. in Beijing, according to Bloomberg generic pricing. The metal fell 28 percent last year, the biggest annual decline in more than three decades, and is down 36 percent from a record $1,921.17 reached on Sept. 6, 2011.

Russia is among nations that added gold to reserves this year, boosting holdings to the highest in at least two decades and surpassing China's hoard to become the fifth-largest by country, data from the council show.

"I don't know if China has been boosting their official gold reserves," said Marsh, who co-founded the group that tracks economic and monetary policies. "But I'd rather think over the past six or seven years the Chinese authorities probably have been adding to their holdings in different ways."

Foreign-exchange reserves of China, the second-biggest economy, have nearly doubled to $3.99 trillion since April 2009 when the nation last announced changes to bullion holdings, according to State Administration of Foreign Exchange data. Last year the country, also the biggest bullion producer, overtook India as the top gold user after price declines spurred buying.

The U.S. holds 8,133.5 tons of gold in reserves, while Germany keeps 3,384.2 tons and Italy has 2,451.8 tons, World Gold Council data show. Russia keeps 1,105.3 tons, or 9.8 percent of its total holdings, according to the data.

* * *

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Indian trade deficit widens as gold imports surge 176%

Mon, 09/15/2014 - 23:06

By Unni Krishnan
Bloomberg News
Monday, September 15, 2014

NEW DELHI, India -- India's trade deficit widened in August from a year earlier as imports of gold surged 176 percent after policy makers eased shipment curbs.

The shortfall was $10.8 billion last month, wider than $10.7 billion a year earlier, with exports rising 2.4 percent and imports growing 2.1 percent. Gold shipments surged to $2 billion from $739 million in August last year after the government allowed more banks and traders to buy bullion overseas.

India is easing emergency measures taken when the current-account deficit widened to an all-time high, as faster growth boosts inflows. While the shortfall will widen this year through March 2015 after shrinking in the previous 12 months, it will stay sustainable, according to a Reserve Bank of India report last month.

"We can manage with monthly gold imports of about $2 billion and the jump in the August number is largely due to last year's low base after a sudden clampdown," Shubhada Rao, an economist at Yes Bank Ltd. in Mumbai, said yesterday. "The jump may look alarming, but there is no reason for panic." ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-09-15/india-s-august-trade-deficit-wi...

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Fed could trigger reversals in stocks and gold this week, Turk says

Mon, 09/15/2014 - 21:06

8:05p ET Monday, September 15, 2014

Dear Friend of GATA and Gold:

Stocks are overvalued and hard assets undervalued, GoldMoney founder and GATA consultant James Turk tells King World News today, adding that he would expect reversals if the Federal Reserve this week persists in reducing its bond monetization. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/15_Tu...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Chinese news agency says UK sees RMB as potentially 'main reserve currency'

Mon, 09/15/2014 - 15:24

2:27p ET Monday, September 15, 2014

Dear Friend of GATA and Gold:

While it is not included in the mainstream financial news agency reports about the United Kingdom Treasury Department's plan to issue bonds denominated in Chinese currency --

http://www.reuters.com/article/2014/09/12/britain-debt-renminbi-idUSL5N0...

http://www.bloomberg.com/news/2014-09-12/u-k-to-sell-first-yuan-denomina...

-- nor in the official U.K. Treasury statement --

https://www.gov.uk/government/news/great-bonds-with-china-uk-china-dialo...

-- the Chinese official news agency Xinhua quotes the British treasury secretary, George Osborne, as saying that the U.K. government has confidence in the Chinese yuan's "potential" to become "the main global reserves currency."

Did Osbourne really say it? Did he say it just for Chinese consumption and are the Western news organizations omitting it to oblige? It's a good bet that no one in those news organizations will be asking.

The Xinhua report is appended.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Britain to Include China's RMB as Foreign Currency Reserve

From Xinhua News Agency, Beijing
Friday, September 12, 2014

http://news.xinhuanet.com/english/business/2014-09/13/c_126981640.htm

LONDON -- British Chancellor of the Exchequer George Osborne announced Friday that the British government intends to issue a Renminbi denominated bond and to use the proceeds to finance the government's reserves of foreign currency.

"I can now announce that the UK government intends to be the first national government outside of China to issue a bond in China's currency. We issued bonds in U.S. dollars before, now we will be issuing a bond in RMB," Osborne said in the press release of the Sixth China-UK Economic and Financial Dialogue.

Chinese Vice Premier Ma Kai and Osborne concluded the meeting of the Sixth China-UK Economic and Financial Dialogue in London.

Osborne described this dialogue outcome as "a historic moment" and a statement of British confidence in the potential of the RMB to become "the main global reserves currency."

"And let me be clear: As China becomes a bigger and bigger part of the world economy, their currency is going to be used around the world. We here in Britain understand that, and we want us to be the first country in the west to seize the opportunities that it will bring," Osborne declared.

Meanwhile, the issuance of Chinese currency bond means jobs and investment in Britain, which the government's long-term economic plan is all about, Osborne noted.

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Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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Anxious Scottish investors have been buying gold

Mon, 09/15/2014 - 14:57

By Richard Dyson
The Telegraph, London
Monday, September 15, 2014

Scottish investment in physical gold has surged by 42 percent in the past fortnight -- on top of the traditional rise in gold demand at this time of the year.

The figure, which comes from Bullionvault.com, the world's biggest online platform for private investors who want to trade physical gold and silver, suggests that anxious Scotland-based investors are turning to gold as a means of insuring against the uncertainties posed by a yes vote in Thursday's referendum. ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/110970...

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Help keep GATA going

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http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

AngloGold Ashanti of South Africa abandons spinoff plans

Mon, 09/15/2014 - 14:45

By Chad Bray
The New York Times
Monday, September 15, 2014

LONDON -- AngloGold Ashanti, one of the world's largest gold mining firms, said on Monday that it would abandon plans to spin off its international mining operations and raise $2.1 billion in new capital.

The company, based in Johannesburg, said last week that it was planning to spin off its operations outside of South Africa into a new entity to be listed in London. AngloGold Ashanti had also sought to raise new capital in order to reduce its debt ahead of the restructuring.

Today the company said that a number of shareholders, although supportive of the strategic logic of the transaction, expressed concerns about several aspects of the deal, including the level of fund-raising needed for the restructuring to go forward. ...

... For the remainder of the story:

http://dealbook.nytimes.com/2014/09/15/anglogold-ashanti-of-south-africa...

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Help keep GATA going

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To contribute to GATA, please visit:

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Share price divergence is what results when central banks buy only index futures

Mon, 09/15/2014 - 12:38

Record S&P 500 Masks 47% of Nasdaq Mired in Bear Market

By Lu Wang and Joseph Ciolli
Bloomberg News
Monday, September 15, 2014

NEW YORK -- Beneath the U.S. stock market's record-setting gains, trouble is stirring.

About 47 percent of stocks in the Nasdaq Composite Index are down at least 20 percent from their peak in the last 12 months while more than 40 percent have fallen that much in the Russell 2000 Index and the Bloomberg IPO Index. That contrasts with the Standard & Poor's 500 Index (SPX), which has closed at new highs 33 times in 2014 and where less than 6 percent of companies are in bear markets, data compiled by Bloomberg show. ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-09-14/record-s-p-500-masks-47-of-nasd...

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Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

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Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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At last some European gold that isn't on its way to China

Mon, 09/15/2014 - 12:33

Diver Finds 2,750-year-old Gold Coin in Bulgaria

From the Sofia Globe
Sofia, Bulgaria
Tuesday, September 9, 2014

http://sofiaglobe.com/2014/09/09/diver-finds-2750-year-old-gold-coin-in-...

A diver has found what is believed to be the oldest gold coin ever discovered in Bulgaria, Bulgarian news agency BTA reported on September 9. The coin was found in shallow waters near the resort town of Sozopol on Bulgarias Black Sea coast.

The diver saw the gleaming coin by accident, the report said, and passed it on to Bozhidar Dimitrov, a native of Sozopol and former diver himself who is now head of the National History Museum in Sofia.

... Dispatch continues below ...


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BTA quoted numismatist Vladimir Penchev from the National History Museum saying that the coin is not solid gold but made of electrum -- the naturally occurring alloy of gold and silver used to mint some of the earliest metal coins in history.

This particular coin appears to have been minted in the kingdom of Lydia in western Anatolya in the second half of the seventh century BCE, which puts the coin's age at more than 2,750 years, he said.

Sozopol was founded as a colony of the Greek city-state of Miletus in western Anatolia about 611 BCE -- first named Antheia but changing its name to Apollonia. Since Miletus was a neighbor of the kingdom of Lydia, it is no surprise that a Lydian coin has been found in the town's environs, but it is the first of its kind found in Bulgaria, according to Penchev.

The coin weighs 0.63 grams and has a denomination of 1/24 of a stater.

-----

A photograph of the coin is posted here:

http://sofiaglobe.com/2014/09/09/diver-finds-2750-year-old-gold-coin-in-...

* * *

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http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

CME Group facilitates futures market manipulation, Steer tells Sprott Money News

Mon, 09/15/2014 - 12:09

11:09a ET Monday, September 15, 2014

Dear Friend of GATA and Gold:

Interviewed by Sprott Money News, GATA board member Ed Steer, editor of Ed Steer's Gold & Silver Daily letter published by Casey Research, discusses the CME Group's entry in the gold futures market in Hong Kong and the company's facilitation of manipulative trading in all the futures markets it manages. The interview is seven minutes long and is posted at the Sprott Money Internet site here:

http://www.sprottmoney.com/sprott-money-weekly-wrap-up

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
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http://www.caseyresearch.com/summit/2014-fall

Canadian Investor Conference
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Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
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Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
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Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Ron Paul: Will the Swiss vote to get their gold back?

Sun, 09/14/2014 - 18:07

5p ET Sunday, September 14, 2014

Dear Friend of GATA and Gold:

Former U.S. Rep. Ron Paul writes today that he hopes that the people of Switzerland vote to repatriate their gold when they hold a referendum on the issue on November 30.

Paul argues that approval of the proposal at referendum will repudiate the financial elites behind unlimited government. He writes:

"The Swiss people appreciate the work their forefathers put into building up large gold reserves, a respected currency, and a strong, independent banking system. They do not want to see centuries of struggle squandered by a central bank. The results of the November referendum may be a bellwether, indicating just how strong popular movements can be in establishing central bank accountability and returning gold to a monetary role."

Paul's commentary is headlined "Will the Swiss Vote to Get Their Gold Back?" and it's posted at the Internet site of the Ron Paul Institute for Peace and Prosperity here:

http://ronpaulinstitute.org/archives/featured-articles/2014/september/14...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Koos Jansen: China again buys the dip in gold and silver gets scarcer

Sun, 09/14/2014 - 11:47

10:45a ET Sunday, September 14, 2014

Dear Friend of GATA and Gold:

Declining gold prices again have pushed demand up on the Shanghai Gold Exchange as China buys the dips, while silver inventories on the Shanghai Futures Exchange continue to fall, gold researcher and GATA consultant Koos Jansen reports today. His analysis is posted at Bullion Star here:

https://www.bullionstar.com/article/chinese%20gold%20demand%2039%20week%...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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For more information, please visit Bullion Star here:

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Casey Research 2014 Summit
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Central banks inflating 'elevated' asset prices, BIS says

Sun, 09/14/2014 - 11:21

By Jamie McGeever
Reuters
Sunday, September 14, 2014

LONDON -- Financial asset prices are at "elevated" levels and market volatility remains "exceptionally subdued" thanks to ultra-loose monetary policies being implemented by central banks around the world, the Bank for International Settlements said today.

In its quarterly review, the BIS said financial market volatility spiked higher in August on the back of geopolitical concerns and worries over economic growth but quickly returned to "exceptional lows" across most asset classes.

"By fostering risk taking and the search for yield, accommodative monetary policies thus continued to contribute to an environment of elevated asset price valuations and exceptionally subdued volatility," the BIS said. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/14/us-markets-bis-idUSKBN0H909C20...

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Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

Bullion banks use inside information to drive gold down on Comex, Roberts says

Sat, 09/13/2014 - 23:50

10:50p ET Saturday, September 13, 2014

Dear Friend of GATA and Gold:

The New York Commodities Exchange is run by investment banks that double as bullion banks, former Assistant U.S. Treasury Secretary Paul Craig Roberts tells King World News tonight, adding that the investment banks can see the gold futures positions taken by hedge funds and use their inside information to loot the hedge funds. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/14_Pa...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Jim Sinclair Plans Market Seminar in Nashville on September 20

Mining entrepreneur and gold advocate Jim Sinclair will hold his next market seminar on Saturday, September 20, in Nashville, Tennesse. For details about attending, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
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Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

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London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Hugo Salinas Price: Fiat money and independence for Scotland

Fri, 09/12/2014 - 14:09

1:05p ET Friday, September 12, 2014

Dear Friend of GATA and Gold:

Fiat currency is a cause of national separatism, currency wars, and social division between rich and poor, Hugo Salinas Price of the Mexican Civic Association for Silver writes this week in commentary headlined "Fiat Money and Independence for Scotland," posted at the association's Internet site, Plata.com, here.

http://plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=248

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
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Friday-Sunday, September 19-21, 2014

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Thursday-Friday, September 25-26, 2014

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Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

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Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Alasdair Macleod: Dollar 'strength' may be only deflationary collapse

Fri, 09/12/2014 - 12:38

11:33a ET Friday, September 12, 2014

Dear Friend of GATA and Gold:

GoldMoney research director Alasdair Macleod writes today than the U.S. dollar's recent strength may be less an indication of economic recovery in the United States than of a deflationary collapse of the world economy:

http://www.goldmoney.com/research/analysis/currency-turbulence?gmrefcode...

And King World News has gold-related commentaries from Swiss gold fund manager Egon von Greyerz --

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/12_Th...

-- mining entrepreneur Keith Barron:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/11_Sw...

-- and fund manager Stephen Leeb:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/11_Pu...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
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Friday-Sunday, September 19-21, 2014

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Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Gene Arensberg: Gold shorting could reverse violently

Fri, 09/12/2014 - 12:10

11:09a ET Friday, September 12, 2014

Dear Friend of GATA and Gold:

The Got Gold Report's Gene Arensberg writes today that there is a lot of opportunistic shorting going on in gold and when it reverses it may do so violently. His commentary is headlined "Speculator 'Insurance Shorts' and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold" and it's posted at the GGR here:

http://www.gotgoldreport.com/2014/09/speculator-insurance-shorts-and-swa...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Koos Jansen: India's gold imports for June were highest in 12 months

Fri, 09/12/2014 - 11:34

10:35a ET Friday, September 12, 2014

Dear Friend of GATA and Gold:

Gold researcher and GATA consultant Koos Jansen reports today that India's official gold imports for June were the highest in 12 months, which seems to contrast strangely with the Reuters report from a few hours ago that India may be falling out of love with gold:

http://www.reuters.com/article/2014/09/12/india-gold-idUSL3N0R52ZR201409...

Jansen's analysis is posted at Bullion Star here:

https://www.bullionstar.com/article/india%20gold%20import%20june%20highe...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
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Friday-Sunday, September 19-21, 2014

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Canadian Investor Conference
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Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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No risk in fixed deposits? Tell it to Cyprus!

Thu, 09/11/2014 - 22:57

India's Love Affair with Gold May Be Over as Prices Slide

By Rajendra Jadhav and Indulal PM
Reuters
Friday, September 12, 2014

VANGAL, India -- Kiran Laxman Salunkhe used to buy jewellery during religious festivals, but sliding gold prices have led the young Indian farmer to break with his family's traditional investment.

This year Salunkhe has deposited his hard-earned savings at the bank for the first time in a decade and bought farmland.

"I bought jewellery when gold price was 32,000 rupees (per 10 grams) last year. Now jewellers won't pay me more than 27,000 rupees if I want to sell. Why should I invest in gold?" said Salunkhe, who farms 15 acres of sugar cane in Vangal, a village 250 kilometers (160 miles) south of Mumbai.

"Nowadays it is risky to keep jewellery. Burglaries are rising," he said. "With a fixed deposit there is no risk." ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/12/india-gold-idUSL3N0R52ZR201409...

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Jim Sinclair Plans Market Seminar in Nashville on September 20

Mining entrepreneur and gold advocate Jim Sinclair will hold his next market seminar on Saturday, September 20, in Nashville, Tennesse. For details about attending, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

U.S. to sanction Sberbank, tighten limits on other Russian banks, sources tell Reuters

Thu, 09/11/2014 - 18:17

By Arshad Mohammed
Reuters
Thursday, September 11, 2014

WASHINGTON -- The United States will take new steps on Friday to limit the access of major Russian banks, including Sberbank, to U.S. debt and equity markets to punish Russia for its intervention in Ukraine, sources familiar with the matter said.

The sanctions are timed to coincide with fresh European Union economic penalties, with both sets aimed at the Russian energy, financial and defense sectors. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/11/us-ukraine-crisis-usa-sanction...

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

http://cambridgehouse.com/event/31/canadian-investor-conference-toronto-...

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

The Bank of England has already issued a dozen certificates for this gold

Thu, 09/11/2014 - 17:58

Gold Engagement Ring from 17th Century Discovered in Field by Pensioner

By Sophie Jane Evans
Daily Mail, London
Wednesday, September 10, 2014

http://www.dailymail.co.uk/news/article-2750977/Gold-engagement-ring-17t...

A gold engagement ring from the 17th century has been unearthed by a pensioner with a metal detector -- more than 300 years after it was lost.

Tom Ross, 69, was sweeping his metal detector over a ploughed farmer's field near Newtownabbey in County Antrim, Northern Ireland, when he stumbled across the item.

The rare "posy" ring, which dates to the late 1600s and is 85 percent gold, bears the Old English inscription: "I noght on gift bot gifer," or "Look not on the gift but the giver."

... Dispatch continues below ...


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Also known as a "betrothal" ring, it pre-dates the custom of proposing with an engagement ring, but essentially served the same purpose.

Men and women exchanged the items from the 1500s onwards to symbolise their future commitment to each other.

Mr Ross, from Jordanstown, near Belfast, told a treasure trove inquest at Belfast Coroners' Court that he initially thought his find in September last year was a worthless trinket.

"I thought it was a bit of rubbish," the great-grandfather and retired oil distributor told coroner Suzanne Anderson.

He added: "In the last 60 years there have been funfairs on that field, motorbike racing, point-to-point racing. There has been a lot of activity there so I thought that's where it came from."

It was only after Mr Ross, who took up metal detecting four years ago as a hobby, showed the ring to a fellow treasure hunter in England that he realised it could be valuable.

He passed the item to museum experts in Northern Ireland, who were able to establish its true significance.

Elise Taylor, curator of applied art at National Museums Northern Ireland, told the court that the ring was originally coated in black and white glass, most of which had worn off in the centuries since.

She said it was tradition to have an inscription on the rings and explained that the name "Posy" related to the French word for poem -- "poesy."

The jewellery expert outlined to Ms Anderson one theory as to how the ring ended up the field in Ballywalter near Newtownabbey.

"There was evidence of a church and graveyard in the adjoining field, which could have been there at that period of time, so many people would have traversed over this field to get to them,' she said.

Explaining that the ring was very light, Ms Taylor speculated that the owner may not even have realised it had dropped from her finger.

"In the cold weather fingers shrink and rings can be lost," she said. "Quite possibly she would not have noticed the ring was lost until she got home."

Ms Anderson declared the ring to be officially treasure -- a ruling that means the item will now be handed over to the British Museum for valuation.

'Very many congratulations and well done for making such a lovely find Mr Ross,' she said.

However, Mr Ross will not be able to hang up his metal detector just yet.

In an amusing twist, after the inquest, the pensioner revealed that when Ms Taylor accompanied him back to the field this year to examine the site she lost her own earring.

"I am going to have to go back and have a look for it now," Mr Ross laughed.

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