Gold Headlines

Why the US dollar is only going to fall faster and harder

Former Deutsche Bank traders convicted of trying to manipulate gold and silver prices

Tricky times follow US corporate borrowing binge

China holds simultaneous military drills in four seas, again

China’s Golden Week to test tourist demand after Covid-19 (FT)

Most startling has been the recovery in tourist activity in Wuhan, where the coronavirus outbreak emerged. Five months since the central Chinese city’s borders were fully reopened, its Yellow Crane Tower has become the most sought-after attraction for Golden Week, according to Ctrip, helped by the local government’s decision to waive entrance fees. The second top destination is Disneyland Shanghai, which reopened in May. https://www.ft.com/content/0c9472e7-ad98-4b94-bd44-2037b338665f

The Gold - Silver Relationship

Gold dealers charged in $185 million scheme to con the elderly

Switzerland wants gold segregation by customs for more transparency

By getting customs around the world to differentiate between mined gold and bank gold Switzerland “wishes to improve the traceability of supply chains and to obtain more accurate statistics”. A fifth of the world’s gold trade passes through Switzerland.  

Banks reap gold trading bonanza from Covid-19 disruption (FT)

Banks are set to report bumper profits from gold and silver trading this year following a record-breaking price rally and the disruption to global supply chains triggered by coronavirus.  Precious metals revenues at the world’s 50 largest investment banks are set to double this year to a nine-year high of $2.5bn, concentrated among a handful of banks, according to consultancy Coalition. Analysts say the surge in revenue stems from a sharp rise in interest among investors..

Rise in virus cases adds to economic uncertainty ahead of U.S. election