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Koos Jansen: How the West has been selling gold into a black hole

Fri, 01/06/2017 - 10:50

9:50a ET Friday, January 6, 2017

Dear Friend of GATA and Gold:

Gold market researcher Koos Jansen writes today that while gold flows in and out of the London market, once gold gets into China, it doesn't come back. Jansen sees this pattern as gradually reducing the above-ground metal available for affecting gold's price and indicating that prices will increase eventually. Jansen's analysis is headlined "How the West Has Been Selling Gold into a Black Hole" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/how-the-west-has-been-sell...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

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

Alasdair Macleod: Fiat money quantity breaks $15 trillion

Thu, 01/05/2017 - 15:12

By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, January 5, 2017

The fiat money quantity has now breached the $15 trillion level, standing at $15,108 trillion on November 1, 2016, the last calculable date. This is now $6.3 trillion above the pre-Lehman crisis trendline, exceeding it by 72 percent. Instead of the Lehman rescue being a temporary fix, the increase in the quantity of fiat money has continued to grow over eight years later.

After the Fed responded to the financial crisis, monetarist commentators warned that the accumulation of bank reserves at the Fed would one day be unleashed into an expansion of bank lending, because every dollar held in reserves could become more than $10 of bank credit. The accumulation of these reserves had had no precedent, and monetary policy was therefore in uncharted territory.

The only way bank reserves can be discouraged from leaving the Fed's balance sheet is for the Fed to increase the Fed Funds Rate (FFR), which is the interest rate the Fed pays commercial banks on these reserves. The original concern is now becoming justified, because banks have been gradually withdrawing reserves held at the Fed over the last 18 months. For this reason, the Fed had no alternative but to raise the FFR in December 2015 and in December 2016, to start the process of normalizing rates. The Federal Open Markets Committee should be watching the withdrawal of reserves as a key indicator in formulating interest rate policy, not that it is openly admitted in the FOMC's statements. ...

... For the remainder of the commentary:

https://wealth.goldmoney.com/research/goldmoney-insights/fmq-breaks-15-t...

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Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/

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

Bullion Star posts primer on China's especially secretive gold reserves

Thu, 01/05/2017 - 11:25

10:25a ET Thursday, January 5, 2017

Dear Friend of GATA and Gold:

Bullion Star's latest primer on central bank gold reserves is about China's, which, Bullion Star notes, are among the world's most secret. The primer is posted here:

https://www.bullionstar.com/gold-university/central-bank-gold-policies-p...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...

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

China's choices narrowing as it burns through FX reserves to support yuan

Thu, 01/05/2017 - 11:21

By Nichola Saminather
Reuters
Thursday, January 5, 2017

SINGAPORE -- As China's foreign exchange reserves threaten to tumble below the critical $3 trillion mark, the biggest fear for investors is not whether Beijing can continue to defend the yuan but whether it will set off a vicious cycle of more outflows and currency depreciation.

Data this week is expected to show China's forex reserves precariously perched just above $3 trillion at end-December, the lowest level since February 2011, according to a Reuters poll.

While the world's second-largest economy still has the largest stash of forex reserves by far, it has been churning through them rapidly since August 2015, when it stunned global investors by devaluing the yuan CNY=CFXS and moving to what it promised would be a slightly freer and more transparent currency regime.

Since then, authorities have repeatedly intervened to support the yuan when it weakened too sharply, burning through half a trillion dollars of reserves and prompting them to sell some of their massive holdings of U.S. government bonds.

They also have put a tightening regulatory chokehold on individuals and businesses who want to move money out of the country, while denying they were imposing new capital controls. ...

... For the remainder of the report:

http://www.reuters.com/article/us-china-economy-forex-reserves-analysis-...

ADVERTISEMENT

Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

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

Bullion Star 'infographic' on gold ETFs shows how they undermine the gold price

Wed, 01/04/2017 - 17:03

4:03p ET Wednesday, January 4, 2017

Dear Friend of GATA and Gold:

Bullion Star today has posted an interesting "infographic" about exchange-traded gold funds and its main point seems to be to remind investors that when they buy shares in gold ETFs, they are facilitating the fractional-reserve gold banking system -- that is, facilitating the artificial inflation of the gold supply, making gold seem more plentiful than it is and thus undermining the gold price. The Bullion Star "infographic" is here:

https://www.bullionstar.com/blogs/bullionstar/infographic-gold-etf-mecha...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

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

Saville doesn't get it: Rig the gold price and you rig all prices

Wed, 01/04/2017 - 16:47

3:49p ET Wednesday, January 4, 2017

Dear Friend of GATA and Gold:

Manipulation of the gold market by investment banks, technical analyst Steve Saville writes this week in the Speculative Investor, is not necessarily long-term price suppression:

http://tsi-blog.com/2017/01/market-manipulation-is-not-price-suppression...

Yes, GATA strives to distinguish between market activity by investment banks and market activity by governments and central banks. GATA is much more interested in the latter activity.

... Dispatch continues below ...


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Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/

Yet all the investment banks targeted for gold and silver market rigging by the antitrust lawsuit in federal court in New York enjoy the U.S. Federal Reserve's coveted classification of primary dealer in U.S. government securities:

http://www.gata.org/node/17037

And while the transcripts disgorged by Deutsche Bank in that lawsuit, showing trader collusion in gold market rigging by all the defendant banks, have been public for many weeks now, the Fed has taken no action against the banks. It seems as if the Fed doesn't mind if its primary dealers manipulate the gold market as long as the manipulation is, as the transcripts suggest, primarily downward. This at least tacit approval would be even more probable if the investment banks lease gold from governments and central banks, making the investment banks effectively the agents of governments and central banks in the gold market.

Saville expresses no curiosity about these connections.

But Saville misses even more when he argues that gold price suppression over a long period is disproved by "the close relationship over the past three years between the U.S. dollar gold price and the bond/dollar ratio (the T-bond price divided by the dollar index)." For even Saville might admit that governments are intervening around the clock in the bond and currency markets. Making such interventions stick requires preventing gold from giving the markets contrary signals, signals that could put bond and currency prices in question.

So why wouldn't governments intervene surreptitiously in the gold market too to protect their bond and currency market interventions?

In any case no one's charts or philosophy can contradict the documentation of gold price suppression by governments and central banks that is summarized here --

http://www.gata.org/node/14839

-- documentation that Saville and other deniers of gold price suppression never bother to examine and dispute. Maybe one may argue over why governments and central banks intervene surreptitiously in the gold market, but the fact of that intervention right up to the present day is well established.

Indeed, Saville seems determined to abandon the subject entirely before being forced to examine the documentation. He writes: "You are allowed to make money in the financial markets by doing something other than buying or owning gold. Therefore, if you truly believe that a powerful group has both the means and the motive to suppress the gold price, then the solution is obvious: Don't buy gold."

The problem is that gold, an international reserve currency, is powerfully connected to all other markets. Manipulate the gold price and you manipulate all currency values. Manipulate all currency values and you manipulate the price of everything valued in currencies. That covers just about everything except maybe your dog's affections.

Thus the choice is far more profound than Saville's framing of it -- whether to buy gold. It is whether to aspire to free and transparent markets or just try to trade on the side of the governments manipulating markets -- that is, whether to accept totalitarianism and totalitarians, who may be grateful for the camouflage offered to them by Saville and his charts.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

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

'Audit the Fed' bill gets new push under Trump

Wed, 01/04/2017 - 15:55

By Peter Schroeder
The Hill, Washington, D.C.
Wednesday, January 4, 2017

Controversial legislation to subject the Federal Reserve's monetary policy powers to outside scrutiny is getting new life in Washington.

Rep. Thomas Massie, R-Ky., and Sen. Rand Paul, R-Ky., have re-introduced legislation to "audit the Fed" after a similar effort stalled in the last Congress.

But such a proposal, which has been vocally opposed by Federal Reserve Chairwoman Janet Yellen, may face its best odds ever of becoming law. Both chambers are controlled by Republicans long critical of the Fed's policies, and President-elect Donald Trump has heaped scorn on the central bank since the beginning of his presidential campaign.

Paul specifically mentioned Trump in a statement about the bill today, making clear the measure's proponents believe they have an ally in their cause coming to the White House. ...

... For the remainder of the report:

http://thehill.com/policy/finance/312662-audit-the-fed-bill-gets-new-pus...

ADVERTISEMENT

Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...

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. LIBOR breaks above 1 percent for first time since 2009

Wed, 01/04/2017 - 11:58

By Richard Leong and Dan Burns
Reuters
Wednesday, January 4, 2017

The rate banks charge each other to borrow dollars for three months rose above 1 percent today for the first time since May 2009 as global interest rates extend their climb on expectations of accelerating growth and inflation.

The London interbank offered rate, or LIBOR, for three-month dollars was fixed at 1.00511 percent, the highest level since 1.00688 percent on May 1, 2009, which was also the last date the rate topped 1 percent. ...

... For the remainder of the report:

http://www.reuters.com/article/us-usa-moneymarkets-idUSKBN14O1GC

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

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

China Inc.'s large dollar debts fuel Beijing's efforts to curb yuan plunge

Tue, 01/03/2017 - 19:11

By Lingling Wei
The Wall Street Journal
Tuesday, January 3, 2017

BEIJING -- The large pile of foreign debt owed by Chinese companies, from state-owned banks to airlines, is giving added impetus to Beijing's efforts to keep the yuan from falling too steeply against the rallying dollar.

The yuan dropped by 4 percent over the past three months, as the dollar recently hit a 14-year high against 16 currencies. The faster-than-expected depreciation is causing more businesses and individuals to try to get out of yuan, further pressuring the currency.

To bolster the yuan, the central bank and other agencies have ratcheted up controls on Chinese companies as well as citizens investing offshore. In the latest move banks were ordered over the weekend to step up scrutiny of individuals' purchases of foreign currency. ...

... For the remainder of the report:

http://www.wsj.com/articles/china-inc-s-large-dollar-debts-fuel-beijings...

ADVERTISEMENT

Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/

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

Mike Kosares: The gold owner's guide to 2017

Tue, 01/03/2017 - 15:47

2:45p ET Tuesday, January 3, 2017

Dear Friend of GATA and Gold:

In his "Gold Owner's Guide to 2017," Mike Kosares of USAGold in Colorado writes that gold remains in a long-term uptrend and the U.S. dollar in a long-term downtrend despite the movements of the last several years. Silver, Kosares adds, has been doing especially well. His analysis is posted at USAGold here:

http://www.usagold.com/publications/NewsViewsJan2017.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...

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

GATA's Ed Steer to speak at Vancouver Resource Investment Conference

Tue, 01/03/2017 - 15:07

2:07p ET Tuesday, January 3, 2017

Dear Friend of GATA and Gold:

GATA Board of Directors member Ed Steer, publisher of the daily Ed Steer's Gold and Silver Digest letter --

http://www.edsteergoldandsilver.com

-- will speak at Cambridge House's Vancouver Resource Investment Conference, to be held Sunday and Monday, January 22 and 23 at the Vancouver Convention Centre West in Vancouver, British Columbia, Canada.

Also speaking, among others, will be Peter Schiff of Euro-Pacific Capital, Frank Holmes of U.S. Global Investors, Doug Casey of Casey Research, Peter Spina of GoldSeek.com and SilverSeek.com, David Morgan of The Morgan Report and Silver-Investor.com, Thom Calandra of The Calandra Report, Rick Rule of Sprott U.S. Holdings, Tommy Humphreys of CEO.ca, Keith Neumeyer of First Majestic Silver Corp., and Andy Schectman of the Miles Franklin bullion dealership.

As usual scores of resource companies will be exhibiting. A discounted rate will be available to conference participants at the Fairmont Waterfront hotel across the street from the convention center.

Admission will be free with advance registration and otherwise will cost C$20 at the door.

For more information about the conference and to register, please visit:

https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

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

Note ban seen shaving a third of India's gold demand in 2017

Sun, 01/01/2017 - 19:48

By Rejesh Bhayani
Business Standard, New Delhi
Saturday, December 31, 2016

Demonetization is expected to shave 300 tonnes off India's gold demand, which is unlikely to come back in a hurry.

Average monthly gold imports, which have been around 65-70 tonnes for the past few years, halved between February and September this year. In October and November there was a recovery on account of festive buying and the marriage season. However, demonetization is expected to result in a drop in demand.

Sudheesh Nambiath, lead analyst for precious metals demand in South Asia and the United Arab Emirates for GFMS-Thomson Reuters, said, "Our estimate is that 300 tonnes of gold demand, which were predominantly cash-based buying, will be shaved off in 2017."

Average annual gold demand for the past seven years has been 875 tonnes, and around 85-90 percent of this gold has been imported. Analysts said around 20 percent of the demand was met through smuggled gold. ...

... For the remainder of the report:

http://www.business-standard.com/article/economy-policy/demonetisation-t...

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

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

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