Monday, June 12 2017

Futures - Cotango or Backwardation

Palladium in backwardation - Platinum is in normal contango.

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Sunday, June 11 2017

State investors stock up on record gold reserves amid uncertainty

The gold reserves of the world’s biggest public sector investors reached an 18-year high as they hoarded the precious metal after Donald Trump’s election and the Brexit vote added to geopolitical uncertainty.

State investors increased their net gold holdings by 377 tonnes to an estimated 31,000 tonnes last year — the highest level since 1999, according to a study of 750 central banks, public pension plans and sovereign wealth funds with $33.5tn in assets.

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Saturday, June 10 2017

Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Friday, June 9 2017

Increase In Physical Gold Demand

Sharps Pixley opened a bullion showroom in St James's, London in early 2016 where clients can now readily buy, sell, test and store physical gold.

Sharps Pixley report they have been inundated with investor interest with a 252 pct increase in gold demand year-on-year (May 2016 vs May 2017) ; the business has run out of some bullion products and they are again flying in fresh metal from Switzerland and Germany in order to replenish stocks. In the June month-to-date they are on track to break all records.

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Gold Imports by India Jump Fourfold as Tax Fear Spurred Stocking

India, which vies with China as the world’s top gold consumer, saw a fourfold increase in imports of the precious metal in May as traders stocked up fearing that the government would fix a higher rate for jewelry under a new national goods tax to be implemented from next month.

Overseas purchases advanced to 126 metric tons in May from 31.5 tons a year earlier,

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Why billionaires like gold

They want to make money – but they also want to execute on strategies that will protect their wealth and build robust portfolios that can withstand any type of macro event.

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Thursday, June 8 2017

GST & its impact on India's gold market

On 1st July, India’s labyrinth of taxes will be replaced with a simple, nationwide Goods & Services Tax (GST). This is the biggest fiscal reform since India’s liberalisation in the early 1990s. While gold consumers will face a slightly higher tax rate, and the industry will go through a period of adjustment, we see the net impact on the gold industry as being positive. The gold supply chain should become more transparent and efficient, and the tax reform can boost economic growth, which we see as supporting gold demand.

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Japan's underworld turns to gold for a quick buck

A series of robberies and smuggling cases in southern Japan suggest that the region has become a hotbed of underworld activity surrounding the lucrative gold trade.

"In years gone by, the 'yakuza' earned their living largely from extortion and protection rackets, but the new legislation has effectively eliminated those revenue streams," he said. "So they have been casting around for a new way of making a living, and the gangs that are dominant in southern Japan have clearly recognized the opportunities that lie in gold."

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Chinese SGE Gold Withdrawals

SGE withdrawals for May were 138 tonnes

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ASIA PACIFIC Precious Metals Conference

Lots of articles to read - download PDFs

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Chinese Gold Reserves

China's gold reserves remain unchanged

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Wednesday, June 7 2017

The New Gold Rush Is All About Vaults

From safety-deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.

A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation.

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Tuesday, June 6 2017

China's Gold Imports Seen Jumping 50% as Haven Demand Booms

Mainland China is set to import about 1,000 metric tons from the territory in 2017, said Haywood Cheung, president of the century-old exchange in Hong Kong which trades physical gold and silver. That compares with net purchases of 647 tons last year and would be the biggest since 2013, data from the Hong Kong Census and Statistics Department compiled by Bloomberg show.

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Chats by Ex-Deutsche Bank Metals Trader Reveal Spoofing Tricks from the Master

In his court plea, Liew described working with others at his own bank and at two other operations. He refers to “The Legend,” without naming him, at another unidentified global bank. Many details are cloaked. Liew himself is described as a trader for Bank A, which a person familiar with the situation said is Deutsche Bank AG.

According to the documents, at least two senior colleagues taught Liew how small orders could be placed and then quickly pulled, pushing prices in a direction to benefit traders with client orders to fill. Within a couple years, he was teaching newer traders to do the same. In all, according to the filings, he attempted to move prices on Chicago’s CME more than 300 times before he left.

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Gold

Gold is within a couple of dollars from it's highs for the year.

It is also breaking out from the long term downtrend line left from the bear market.

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Chinese Gold Imports From Hong Kong

Chinese net gold imports via Hong Kong for April were 74.2 tonnes.

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Monday, June 5 2017

Singapore's gold hub strategy bears fruit as imports, exports rise, Government & Economy

SINGAPORE's strategy to develop itself as a gold hub has proven successful, as its imports and exports almost doubled in the years after the goods and services tax (GST) was removed for investment-grade precious metals in 2012.

In numbers released for the first time, statistics from International Enterprise Singapore (IE Singapore) show that total imports and exports of gold in Singapore have expanded from 474 tonnes in 2012 - when the GST exemption started - to a peak of 823 tonnes in 2014 before falling to 618 tonnes last year.

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Sunday, June 4 2017

India says to levy 3 pct tax on gold under new regime, industry relieved

India will tax gold at a rate of 3 percent under a new nationwide sales tax that comes into effect on July 1, the government said on Saturday.

The Goods and Services Tax (GST) on gold, which was lower than industry expectations of around 5 percent, will replace a number of federal and state levies.

"Currently, the industry pays taxes around 2 to 2.5 percent, so 3 percent is almost as good as no impact,"

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India Gold/Silver Imports

Indian imports for April

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