You are here

GATA

Subscribe to GATA feed
Updated: 19 min 56 sec ago

Paulson cut gold bets again as Soros, others rushed back

Tue, 05/17/2016 - 09:38

By Devika Krishna Kumar
Bloomberg News
Tuesday, May 17, 2016

Gold bull John Paulson slashed his bets on bullion while billionaire investor George Soros and other big funds returned to the metal for the first time in years, filings showed on Monday, as prices staged their biggest rally in nearly 30 years.

New York-based hedge fund Paulson & Co, led by John Paulson, one of the world's most influential gold investors, slashed its investment in SPDR Gold Trust, the world's biggest gold exchanged-traded fund, by 17 percent to 4.8 million shares, U.S. Securities and Exchange Commission filings showed on Monday.

It was Paulson's third cut to his SPDR stake in a year and saw him drop to the third largest investor in the fund from second, behind BlackRock and First Eagle Investment Management.

"If you were already long, which clearly Paulson was, maybe he's just taking some profits off the table," Mike Dragosits, senior commodities strategist at TD Securities said. ...

... For the remainder of the report:

http://www.reuters.com/article/us-investments-funds-gold-idUSKCN0Y72C4

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

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

University of Michigan to invest in gold, copper mining fund

Tue, 05/17/2016 - 09:31

By Janet Lorin
Bloomberg News
Monday, May 16, 2016

The University of Michigan plans to invest $30 million in a fund that will buy North American gold and copper mines from distressed companies.

The school, with a $10 billion endowment as of June 30, plans to make the investment with Waterton Mining Parallel Fund, which is managed by Waterton Global Resources Management in Toronto, according to an agenda for the Board of Regents meeting on May 19.

Gold is the best-performing major metal this year after silver amid rising concern over negative rates in Europe and Japan and whether the Federal Reserve will be able to tighten further.

"These opportunities arise from the financial distress of mining companies who took on significant amounts of debt for M&A activity prior to the collapse in commodity prices since 2011," Kevin Hegarty, chief financial officer at University of Michigan, wrote in the request for approval. "Now looking to strengthen their balance sheets, these financially distressed companies are selling assets to raise cash and reduce debt levels." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-16/university-of-michigan...

ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

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/

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

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

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

Make America gold again: Calls for everyone's favorite standard are back

Tue, 05/17/2016 - 09:19

By Michelle Jamrisko
Bloomberg News
Tuesday, May 17, 2016

When times are tough, new economic theories get a better hearing. Maybe some old ones too.

The gold standard is one of the oldest ideas about money, but the hardest of hard-money hawks sense an opening to breathe new life into it. Decades ago, the amount of cash circulating in a country was often limited by the stash of bullion held in its coffers. Especially since 2008, developed-world policy has headed in the exact opposite direction, expanding the powers of central banks to stoke growth. Helicopter drops of money, potentially the next new thing, would be a giant leap further.

For those in the U.S. who see much risk and little benefit in the current course, gold is still a rallying point. And their audience may be growing.

"The fringe has become the mainstream," said Jesse Hurwitz, a U.S. economist at Barclays Capital in New York. He sees the gold standard as a bad idea but "something we'll increasingly talk about." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-17/make-america-gold-agai...

ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Bullion Star's Ronan Manly examines the London platinum and palladium market

Tue, 05/17/2016 - 09:04

8a ET Tuesday, May 17, 2016

Dear Friend of GATA and Gold:

Financial market researcher Ronan Manly today examines the London platinum and palladium market at the outset of London Platinum Week. Manly finds that the market's operations are -- surprise -- something less than transparent. Manly's report is posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/lppm-london-platinum-palla...

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

ADVERTISEMENT

Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore

Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.

Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.

Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.

Goldbroker.com is listed among GATA's recommended monetary metals dealers:

http://www.gata.org/node/173

To invest or learn more, please visit:

https://www.goldbroker.com/


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

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

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

Soros puts $264 million in Barrick Gold, buys calls on gold ETF

Mon, 05/16/2016 - 21:44

Billionaire Soros Cuts U.S. Stocks by 37%, Buys Gold Miner

By Jesse Riseborough and Saijel Kishan
Bloomberg News
Monday, May 16, 2016

Billionaire George Soros cut his firm's investments in U.S. stocks by more than a third in the first quarter and bought a $264 million stake in the world's biggest bullion producer, Barrick Gold Corp.

The value of Soros Fund Management's publicly disclosed holdings dropped by 37 percent to $3.5 billion as of the end of the last quarter, according to a government filing today. Soros acquired 1.7 percent of Barrick, making it the firm's biggest U.S.-listed holding. Soros also disclosed owning call options on 1.05 million shares in the SPDR Gold Trust, an exchange-traded fund that tracks the price of gold. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-16/billionaire-soros-cuts...

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

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

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

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

Bullion Star makes a graphic of the Comex gold market

Mon, 05/16/2016 - 21:15

8:15p ET Monday, May 16, 2016

Dear Friend of GATA and Gold:

Bullion Star has created a graphic illustration of the Comex gold market, showing that, like the London gold market, the Comex is a fractional-reserve-based and largely unallocated market with little real metal ever being delivered. The graphic is posted at Bullion Star here:

https://www.bullionstar.com/blogs/bullionstar/infographic-comex-gold-fut...

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

ADVERTISEMENT

A Contrarian's Call Option on Gold

Sandspring Resources' Toroparu project in Guyana is the fourth-largest gold deposit in South America held by a junior mining company.

Experienced backers of Sandspring Resources include Silver Wheaton, the John Adams / Energy Fuels group in Denver, and Frank Giustra’s Fiore Group in Vancouver.

A 2013 preliminary feasibility study shows strong economics for this large-scale mine at US$1,400 gold. With a current gold price below US$1,300, Sandspring is for investors who believe that gold price suppression will be overcome.

For a detailed report on Sandspring Resources by Tommy Humphreys of CEO.CA, please visit:

https://ceo.ca/@tommy/a-ten-million-ounce-call-option-on-gold


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Libya's central bank needs gold stashed in safe but code is in dispute

Mon, 05/16/2016 - 14:46

By Hassan Morajea and Tamer El-Ghobashy
The Wall Street Journal
Friday, May 13, 2016

BEYDA, Libya -- Underneath a bank in this eastern coastal city, a vault holds a trove of gold and silver coins worth $184 million. It belongs to the central bank, which could use the money to alleviate a crippling cash shortage.

The pile, however, presents some problems. The coins are locked away with a five-number code that central bankers in this part of the country don't have. A rival government in Tripoli, which has effective control over the bank system, won't hand over the digits and has expressed concern the money could fund armed militias opposed to its rule.

To make things worse, the metal pieces bear the face of Moammar Gadhafi, the reviled leader who was overthrown, captured, and killed in 2011. ...

... For the remainder of the report:

http://www.wsj.com/articles/libyas-central-bank-needs-money-stashed-in-a...

ADVERTISEMENT

The Committee to Destroy the World:
Inside the Plot to Unleash a Super Crash

This new book by Michael E. Lewitt is a passionate and informed analysis of the struggling global economy. Lewitt, one of Wall Street's most respected market strategists and money managers, updates his groundbreaking examination of the causes of the 2008 crisis and argues that economic and geopolitical conditions are even more unstable today. Lewitt explains how debt has overrun the world's productive capacity, how government policies have created a downward vortex sapping growth and vitality from the American economy, and how greed and corruption are preventing reform.

For more information:

http://www.wiley.com/WileyCDA/WileyTitle/productCd-1119183545,subjectCd-...


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

China's ICBC buys 2,000-ton London gold vault from Barclays

Mon, 05/16/2016 - 14:40

By Eddie van der Walt and Stephen Morris
Bloomberg News
Monday, May 16, 2016

ICBC Standard Bank expanded its push into London's precious metals market by agreeing to buy one of Europe's largest vaults from Barclays.

ICBC Standard, formed last year after Industrial and Commercial Bank of China Ltd. -- China's biggest bank -- bought a controlling stake in Standard Bank's global markets business, expects the purchase of the vaulting business and related contracts to be completed in July, it said in an e-mailed statement today. No financial details were given.

About $5 trillion of transactions are cleared every year in London's gold market, which Barclays is exiting as it pulls out of precious metals. ICBC Standard last week joined the city's precious-metals clearing system and last month won classification as a market maker by the London Bullion Market Association.

"This enables us to better execute on our strategy to become one of the largest Chinese banks in the precious metals market," Mark Buncombe, head of commodities at ICBC Standard Bank, said in the statement. "The acquisition of a precious metals vault allows us to expand our services in clearing and processing." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-16/icbc-standard-bank-buy...

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, 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/


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

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

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

Gold depository could soon be on its way to Texas

Mon, 05/16/2016 - 09:40

By Anna M. Tinsley
Fort Worth Star-Telegram
Sunday, May 15, 2016

DALLAS -- Tarek Saab has a golden vision for Texas.

Well, for a Texas Bullion Depository anyway.

So he and his company -- Texas Precious Metals -- set up a booth at the Republican Party of Texas state convention in Dallas to tell Texans about it.

"Texans as a group are some of the largest gold buyers in the world," said Saab, chief operating officer of the company. "The only options they have to store it right now are in a bank or their home."

Saab's company, one of many interested in being involved with the state's plan to create a depository, proposes building a potentially $20 million facility -- with no Texas tax dollars -- on 40 acres of land it has in Shiner, about 250 miles south of Fort Worth. ...

... For the remainder of the report:

http://www.star-telegram.com/news/politics-government/article77795702.ht...

ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

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.

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

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

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

Central bankers' wisdom faulted as gold holdings surge 25%

Mon, 05/16/2016 - 09:33

By Ranjeetha Pakiam
Bloomberg News
Monday, May 16, 2016

The great gold rush of 2016 is gathering pace. Holdings in exchange-traded funds have now surged by a quarter, with investors taking advantage of lower prices over the past two weeks to enlarge stakes on rising concern about central bank policy making worldwide.

The holdings have increased to 1,822.3 metric tons, the most since December 2013, according to data compiled by Bloomberg, after bottoming at a seven-year low in January. In the past two weeks, as prices lost 1.6 percent, ETFs swelled 63.2 tons, rising every day. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-16/the-25-jump-in-gold-ho...

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

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


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

There's a world war against gold, economist Fekete says

Fri, 05/13/2016 - 13:37

12:36p ET Friday, May 13, 2016

Dear Friend of GATA and Gold:

Interviewed by Mexican financial journalist Guillermo Barba, the economist and gold standard advocate Antal Fekete explains how negative interest rates constitute the destruction of both financial and physical capital. Fekete also argues that central banks are waging a longstanding world war against gold. He adds that he has developed a mechanism of profiting from investing in gold by buying and selling calls and puts depending on central bank policy. The interview is headlined "There Is a Global War Against Gold" and it's posted at Barba's Internet site here:

http://www.guillermobarba.com/mleikengroupbrands-net/

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

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Metals holding up well against massive shorting, Embry tells KWN

Thu, 05/12/2016 - 22:23

9:20p ET Thursday, May 12, 2016

Dear Friend of GATA and Gold:

Sprott Asset Management's John Embry tells King World News that he can't think of another market that could sustain the steady and overwhelming shorting done lately in the monetary metals by the bullion banks, but he adds that the metals are holding up well. The interview is excepted at KWN here:

http://kingworldnews.com/50-year-veteran-whats-next-after-massive-gold-s...

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

ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

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/

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

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

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

TF Metals Report: Assessing the latest bank participation report

Tue, 05/10/2016 - 14:58

1:58a ET Tuesday, May 10, 2016

Dear Friend of GATA and Gold:

Conscientious as ever, the TF Metal's Report's Turd Ferguson today reviews the monthly Bank Participation Report of the U.S. Commodity Futures Trading Commission about positioning in the U.S. gold futures market, acknowledging that the report is likely full of deceptions if not outright lies but adding that it may have some value through historical comparison.

Your secretary/treasurer would add that in addition to the proven unreliability of the data as noted by Ferguson, the reporting banks may have offsetting and unreported positions in other markets and the positions reported to the CFTC may not even be the banks' own but effectively central bank positions and thus backed by infinite money or credit, the central bsnks' primary mechanism of destroying markets, a mechanism that cannot be examined by mainstream financial journalism or mainstream market commentary.

Indeed, for all anyone outside central banking knows today, central bank policy now may be to devalue currencies by pushing gold upward instead of downward as usual, and so an ever-enlarging short position in gold futures may be required by central banks to keep their revaluation of gold under control. In any case, no one who fails to take central bank trading into account knows anything worth knowing about the gold market. The gold market is first of all governments and central banks.

Ferguson's analysis is headlined "Assessing the Latest Bank Participation Report" and it's posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/7618/assessing-latest-bank-participat...

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

ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

China eases gold trade rules in 6 cities

Mon, 05/09/2016 - 19:19

By Leng Cheng
Shanghai Daily
Thursday, May 5, 2016

http://www.shanghaidaily.com/business/energy/China-eases-gold-trade-rule...

China will relax rules for cross-border trading of gold in six cities as the world's biggest gold consumer and producer hopes this move will increase bullion imports.

Gold companies will be able to clear customs up to 12 times with just one permit after the rules are eased, a joint statement by the People's Bank of China and the General Administration of Customs said yesterday. The current rules force the companies to apply permits for every import or export of the gold.

The rules will be effective from June 1 in the six cities of Shanghai, Beijing, Guangzhou, Nanjing, Qingdao, and Shenzhen, the statement said.

"The new measure will simplify the approval procedures and improve the gold trading environment," the statement said.

The eased rules followed the setting up of a yuan-denominated gold fix in the Shanghai Gold Exchange two weeks ago in a bid to help China join London and New York as a global hub for bullion trading, said SGE Chairman Jiao Jinpu.

Gold consumption in China has been climbing as rising incomes and economic growth boost purchases of jewelry, bars and coins.

The gold consumption totaled 985.9 tons last year. Output stood at 450.1 tons in 2015, according to figures from the China Gold Association.

ADVERTISEMENT

Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore

Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.

Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.

Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.

Goldbroker.com is listed among GATA's recommended monetary metals dealers:

http://www.gata.org/node/173

To invest or learn more, please visit:

https://www.goldbroker.com/


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

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

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

Australia notices Deutsche Bank's agreement to settle gold, silver rigging claims

Mon, 05/09/2016 - 18:52

New York Court Investigates Claims Silver and Gold Prices Rrigged

By Trevor Sykes
Australian Financial Review, Sydney
Monday, May 9, 2016

Silver and gold are looking strong again, partly because of interest rate movements but possibly also because of a court case being settled in New York.

The interest rate factor is clear. One of the arguments against holding precious metals has always been that they yield no interest. Now we are in an environment where government bonds and bank deposits yield very low interest anyway, so that argument has lost much of its strength.

... Dispatch continues below ...


ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

The court case, in the Southern District of New York, has so far been unreported in Australia. A group of plaintiffs sued Deutsche Bank, the Bank of Nova Scotia, HSBC, and their private company the London Silver Market Fixing Ltd for breaches of US anti-trust legislation. Another defendant was the Swiss-based UBS.

The plaintiffs alleged the banks rigged the silver market by publishing false prices. London Silver Fixing had run the daily silver auctions in London until August 2014, when the London Bullion Market Association (LBMA) took over the auctions.

Silver traders sued the banks and the company in 2014, alleging that the banks had abused their controlling position in the silver market to reap illegitimate profits from trading. They were alleged to have hurt traders who invested billions of dollars based on the benchmarks which were set by the banks.

UBS did not set the benchmarks, but was accused of conspiring to exploit the silver fix.

On April 13, Deutsche Bank shocked the market by unilaterally agreeing to settle. The amount it has agreed to pay remains undisclosed.

Deutsche Bank also agreed to cooperate with the plaintiffs by providing "instant messages and other electronic communications". Lawyers for the plaintiffs said the cooperation would "substantially assist plaintiffs in the prosecution of their claims against the non-settling defendants".

When one defendant in a lawsuit breaks ranks and settles, it normally puts great pressure on the other defendants to do the same.

It will also put pressure on the current LBMA silver auctions, because HSBC and the Bank of Nova Scotia are two of the five LBMA parties. Price manipulation in this market can be prosecuted criminally.

Whether such a prosecution is launched will depend on the regulator, Britain's Financial Conduct Authority (FCA).

More importantly, the allegations also extend to the gold market. A total of 96 plaintiffs are suing 22 defendants with claims that the gold market has been manipulated.

The defendants in the gold case are the Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC, Societe Generale, UBS and The London Gold Market Fixing Ltd.

Again, it has been reported that Deutsche Bank is negotiating to unilaterally settle the claims. The repercussions from such a settlement are potentially huge.

Traders have suspected for years that the gold market was being rigged. The London fix and the Comex market in New York are the world's dominant gold markets, but prices are set in derivatives. In theory the daily London fix is supposed to be for physical delivery, but in practice trades are settled in cash and only rarely in gold.

In the physical markets, the big buyers for many years have been China, India and other Asian nations. The biggest gold hoard in the world is supposed to be in Fort Knox, but there is a strong suspicion that its holdings are much smaller than reported.

If that is so, the gold market is truly distorted because the price is being set in US and UK derivative markets and not by the physical market. If the US lawsuit extends into the heart of gold price fixing, the revelations could be explosive.

Silver peaked at $43 an ounce in April 2011. It went as low as $19 last January but has since recovered to $23. Gold went as low as $1351 an ounce in November 2011 and has recently been trading above $1,700.

-----

Disclosure: Trevor Sykes holds shares in gold exploration companies. The author is not a licensed investment advisor. Views expressed are his own and not a substitute for tailored investment advice.

* * *

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

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

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

Bullion Star graphic displays the fraud of the London gold market

Sun, 05/08/2016 - 16:32

3:30p ET Sunday, May 8, 2016

Dear Friend of GATA and Gold:

Bullion Star has created a graphic illustration of the London gold market, showing that it is a fractional-reserve-based and largely unallocated market seemingly designed to deceive naive investors looking for a hedge against currency volatility in the form of an asset that can't be infinitely created in a flash, but often is. The graphic is posted at Bullion Star here:

https://www.bullionstar.com/blogs/bullionstar/infographic-london-gold-ma...

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

ADVERTISEMENT

A Contrarian's Call Option on Gold

Sandspring Resources' Toroparu project in Guyana is the fourth-largest gold deposit in South America held by a junior mining company.

Experienced backers of Sandspring Resources include Silver Wheaton, the John Adams / Energy Fuels group in Denver, and Frank Giustra’s Fiore Group in Vancouver.

A 2013 preliminary feasibility study shows strong economics for this large-scale mine at US$1,400 gold. With a current gold price below US$1,300, Sandspring is for investors who believe that gold price suppression will be overcome.

For a detailed report on Sandspring Resources by Tommy Humphreys of CEO.CA, please visit:

https://ceo.ca/@tommy/a-ten-million-ounce-call-option-on-gold


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

TF Metals Report elaborates on reports by Mylchreest and Williams

Sun, 05/08/2016 - 15:50

2:50p ET Sunday, May 8, 2016

Dear Friemd of GATA and Gold:

The TF Metals Report's Turd Ferguson today elaborates on Paul Mylchreest's new report on the exhaustion of the gold supply in London as well as on Grant Williams' recent report on the gold market, "Nobody Cares," perhaps because people may be starting to care after all. Ferguson's commentary is posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/7615/guest-post-death-gold-market-pau...

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

ADVERTISEMENT

The Committee to Destroy the World:
Inside the Plot to Unleash a Super Crash

This new book by Michael E. Lewitt is a passionate and informed analysis of the struggling global economy. Lewitt, one of Wall Street's most respected market strategists and money managers, updates his groundbreaking examination of the causes of the 2008 crisis and argues that economic and geopolitical conditions are even more unstable today. Lewitt explains how debt has overrun the world's productive capacity, how government policies have created a downward vortex sapping growth and vitality from the American economy, and how greed and corruption are preventing reform.

For more information:

http://www.wiley.com/WileyCDA/WileyTitle/productCd-1119183545,subjectCd-...


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

Paul Mylchreest: The death of the gold market -- reforming the LBMA and the true price of physical gold

Sat, 05/07/2016 - 20:04

7p ET Saturday, May 7, 2016

Dear Friemd of GATA and Gold:

Market analyst Paul Mylchreest's new report, "The Death of the Gold Market -- Reforming the LBMA and the True Price of Physical Gold," argues that little if any metal remains available in the London gold market. With his kind permission it's posted at GATA's Internet site here:

http://www.gata.org/files/MylchreestReport-05-2016.pdf

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

ADVERTISEMENT

The Committee to Destroy the World:
Inside the Plot to Unleash a Super Crash

This new book by Michael E. Lewitt is a passionate and informed analysis of the struggling global economy. Lewitt, one of Wall Street's most respected market strategists and money managers, updates his groundbreaking examination of the causes of the 2008 crisis and argues that economic and geopolitical conditions are even more unstable today. Lewitt explains how debt has overrun the world's productive capacity, how government policies have created a downward vortex sapping growth and vitality from the American economy, and how greed and corruption are preventing reform.

For more information:

http://www.wiley.com/WileyCDA/WileyTitle/productCd-1119183545,subjectCd-...


Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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

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

AttachmentSize MylchreestReport-05-2016.pdf2.62 MB

Pages

Join Forum

To prevent automated spam submissions leave this field empty.

Best of the Web

Price-Pottenger Foundation