LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Here’s What the Market Did EVERY TIME the Fed Cut Rates During an Economic Expansion
By: Frank Holmes, US Funds

How to Fix GDP
By: Keith Weiner, Monetary Metals

Federal Debt Ceiling Reached as Federal Spending Rages
By: Clint Siegner

Gold Stocks Forming Bullish Consolidation
By: Jordan Roy-Byrne CMT, MFTA

THE SILVER PRICE: Setting Up For A Breakout?
By: SRSrocco

Precious Metals Update Video: Gold price action is bullish, 18-DMA Support just below
By: Ira Epstein

6% Chinese Growth Exaggerated
By: Rick Ackerman, Rick's Picks

Technical Scoop Update: Powell in the spotlight, Divergences are popping up everywhere, Gold rose on Fed rate cut expectations
By: David Chapman

Wrong Whale
By: Ted Butler

GoldSeek Radio: Dr. Marc Faber, John Scurci and Robert Ian
By: Chris Waltzek Ph.D., GoldSeek Radio

 
Search

GoldSeek Web

 
David Brady at Sprott Money: Gold -- the Chinese connection

By: Chris Powell

 -- Published: Sunday, 1 July 2018 | Print  | Disqus 

Dear Friend of GATA and Gold:

Market analyst and former fund manager David Brady, writing again at Sprott Money, observes today that, in devaluing the yuan against the U.S. dollar in recent weeks to offset rising U.S. tariffs, China also appears to be pegging the yuan to a gold price of around 8,200 yuan per ounce.

In his most recent Gold Speculator letter, which has not been posted in the clear, market analyst and fund manager James Rickards reported indications that for many months now, ever since inclusion of the yuan in the basket of currencies that constitutes the International Monetary Fund's Special Drawing Rights currency, the gold price has been holding steady in SDR valuation.

The implication of both reports is that China is at the center of central bank rigging of the gold market so that China, foremost among dollar holders, more easily can obtain the monetary metal to hedge its gross foreign-exchange surplus of dollars, a hypothesis similar to that propounded by the U.S. economists Paul Brodsky and Lee Quaintance in an essay called to your attention by GATA in 2012:

http://www.gata.org/node/11373

Brady's analysis is headlined "Gold -- The Chinese Connection" and it's posted at Sprott Money here:

https://www.sprottmoney.com/Blog/gold-the-chinese-connection-david-brady...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
https://neworleansconference.com/

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

 


| Digg This Article
 -- Published: Sunday, 1 July 2018 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.