Wednesday, September 18 2019
By GCRU Gold News on Wednesday, September 18 2019, 21:12
◆ 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”
Tuesday, September 17 2019
By GCRU Gold News on Tuesday, September 17 2019, 21:38
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.
By GCRU Gold News on Tuesday, September 17 2019, 00:31
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.
Monday, September 16 2019
By GCRU Gold News on Monday, September 16 2019, 23:09
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.
By GCRU Gold News on Monday, September 16 2019, 23:07
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.
By GCRU Gold News on Monday, September 16 2019, 07:28
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?
Sunday, September 15 2019
By GCRU Gold News on Sunday, September 15 2019, 03:33
Andy Schectman, President, Miles Franklin Precious Metals, warns that market deception leads to a flawed perception of reality.
Saturday, September 14 2019
By GCRU Gold News on Saturday, September 14 2019, 07:16
By GCRU Gold News on Saturday, September 14 2019, 07:14
By GCRU Gold News on Saturday, September 14 2019, 00:41
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.
Friday, September 13 2019
By GCRU Gold News on Friday, September 13 2019, 00:25
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.
Thursday, September 12 2019
By GCRU Gold News on Thursday, September 12 2019, 22:15
Palladium & Platinum margins increased.
Tuesday, September 10 2019
By GCRU Gold News on Tuesday, September 10 2019, 01:48
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.
Monday, September 9 2019
By GCRU Gold News on Monday, September 9 2019, 23:08
SGE withdrawals were 107.728 tonnes for August
By GCRU Gold News on Monday, September 9 2019, 23:06
China adds 5.91 tonnes to it's reserves in August
Sunday, September 8 2019
By GCRU Gold News on Sunday, September 8 2019, 00:09
The Bond Blow-Off, Rising Gold Prices, and the Late 1930s Analogue
Saturday, September 7 2019
By GCRU Gold News on Saturday, September 7 2019, 04:58
By GCRU Gold News on Saturday, September 7 2019, 04:57
By GCRU Gold News on Saturday, September 7 2019, 00:02
Some investors talk of $2,000 an ounce gold, but Frank thinks $10,000 an ounce wouldn’t be crazy. “I don’t think it’s going to happen in the next 12 months, but I think that the supply of gold has peaked.”
Friday, September 6 2019
By GCRU Gold News on Friday, September 6 2019, 04:08
The retail price of physical gold in Japan climbed to its highest in nearly 40 years on Thursday, a surge accentuated by fluctuations in the value of the yen but mirroring a global hunt for the safe-haven precious metal amid worries that the U.S.-China trade row could further depress the global economy.