Saturday, September 21 2019

Switzerland Gold Imports & Exports

Swiss flows for August

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LBMA Removes JP Morgan’s Michael Nowak from the LBMA Board

“The London Bullion Market Association has removed Michael Nowak, JPMorgan’s head of precious metals trading, from its board after he was indicted by the US Department of Justice for a “massive, multiyear scheme” to manipulate the precious metals markets.

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Pierre Lassonde Says Gold Could Hit $25,000 in 30 Years

One of the highlights of Pierre’s presentation was his forecast for the price of gold in the next 30 years. After analyzing gold’s historical compound annual growth rate (CAGR) over the past 50 years, ever since President Nixon formally took the U.S. off the gold standard, Pierre says he sees an average price target of $12,500 an ounce by 2049. And under the “right” conditions, it could go as high as $25,000!

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Friday, September 20 2019

Russian Gold Reserves

Russia adds 400,000oz to it's reserves in August

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Wednesday, September 18 2019

JPMorgan’s Gold and Silver Desk Was a Criminal Enterprise - U.S. Justice Department

◆ JPMorgan’s head of precious metals trading and senior traders have been charged by the U.S. Department of Justice with rigging precious metal prices in a “massive, multiyear scheme”

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Tuesday, September 17 2019

LBMA Board Member & JP Morgan Managing Director Charged with Rigging Precious Metals

Michael Nowak, JP Morgan Chase managing director and head of the bank’s global precious metals desk, who is also a Board member of the London Bullion Market Association (LBMA), has just been indicted & charged by the US Department of Justice (DoJ) with manipulating the prices of precious metals-futures contracts over an 8 year period.

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China Gold Is Hunting for Deals Worth as Much as $2 Billion

China Gold International Resources Corp., the overseas arm of state-owned China National Gold Group, is on the hunt for acquisitions to replenish its pipeline as deal-making in the sector heats up thanks to a jump in the metals price.

The miner, listed both in Canada and Hong Kong, is targeting companies with assets in operational stages that have ramp-up plans. The company is comfortable making purchases with a price at roughly $1 billion to $2 billion, Xie said.

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Monday, September 16 2019

JPMorgan Traders Charged by U.S. With Rigging Metals Deals

The U.S. Justice Department said today the three men ripped off market participants and even clients as they illegally moved prices for gold, silver, platinum, and palladium.

Their actions spanned eight years and involved thousands of unlawful trading sequences, the Justice Department said. The men were indicted on multiple fraud and conspiracy charges, including racketeering.

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JPMorgan’s Metals Desk Was a Criminal Enterprise, U.S. Says

U.S. prosecutors took an unusually aggressive turn in their investigation of price fixing at JPMorgan Chase & Co., describing its precious metals trading desk as a criminal enterprise operating inside the bank for nearly a decade.

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Rothschild emerges from the shadows for the Centenary of the London Gold Fixing

As the great and the good of the London Gold Market raise a toast to the centenary of the Gold Fixing this September, while lauding the ‘new’ LBMA Gold Price, it would be well to keep in mind the old phrase ‘you can put lipstick on a pig, but its still a pig’.

The LBMA recently

that “it took 89 years for the gold price to break through the $1,000 barrier, reaching a new all-time high of $1,023.50 on 17 March 2008“, to which we have the question what would the gold price be now in the absence of the London Gold Fixings and the LBMA Gold Price?

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Sunday, September 15 2019

Gold and The Art of Financial War Revisited

Andy Schectman, President, Miles Franklin Precious Metals, warns that market deception leads to a flawed perception of reality.

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Saturday, September 14 2019

Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Look Which Precious Metal Is Beating Warren Buffett

For the 20-year period, gold has returned more than 485 percent, beating Warren’s Berkshire Hathaway, which was up 426 percent. Not only that, gold royalty and streaming company Franco-Nevada, has beaten Buffett too.

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Friday, September 13 2019

Two JPMorgan metals executives put on leave amid U.S. probe

Two JPMorgan Chase & Co (JPM.N) employees, including a top metals trading executive, have been placed on leave in response to a U.S. criminal investigation into the bank’s metals trading practices, according to a source familiar with the matter.

Michael Nowak and Gregg Smith are on leave, the source said on Thursday, making them the third and fourth JPMorgan employees to be connected to the criminal investigation that has resulted in guilty pleas from two former JPMorgan metals traders.

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Thursday, September 12 2019

PGMs Margin Bonds Raised

Palladium & Platinum margins increased.

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Tuesday, September 10 2019

Bank of England’s Carney delivers dollar shocker

Question: What do Jeffrey Gundlach, Ray Dalio, Mark Mobius, Stanley Druckenmiller, Paul Tudor-Jones, David Einhorn, Naguib Sawiris, Paul Singer, and Thomas Kaplan – some of the greatest financial minds of a generation – all have in common?

Answer: An attachment to gold and its presence in their personal financial holdings as a safe-haven hedge.

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Monday, September 9 2019

Chinese SGE Gold Withdrawals

SGE withdrawals were 107.728 tonnes for August

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Chinese Gold Reserves

China adds 5.91 tonnes to it's reserves in August

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Sunday, September 8 2019

Dalio’s Analogue

The Bond Blow-Off, Rising Gold Prices, and the Late 1930s Analogue

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