Gold Headlines

UK GDP collapsed nearly 20% in second quarter in historic COVID hit

Insults and interruptions mar first Trump-Biden debate

China's factory activity accelerates at solid pace in September on boost from overseas demand

Gold mining fundamentals remain supportive

Gold’s Record High Gives New Life to Dollar Doomsayers (wsj)

Bullion Bank Criminal Corruption

Gold climbs to near 1-week high on dollar slide, stimulus optimism (Reuters)

“As we see better prospects for stimulus, we understand there is a tendency to weaken the domestic currency, in this case weaken the dollar and support gold and silver,” said David Meger, director of metals trading at High Ridge Futures. At this point, U.S. Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi “slowly coming to terms over the second stimulus plan is obviously a supportive environment,” he added. https://www.reuters.com/article/global-precious/precious-gold…

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record $920 million Deal (Bloomberg)

Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and…

Fed's Williams sees about three years for full U.S. recovery

U.S. Retail Bankruptcies, Store Closures Hit Record in First Half