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Alasdair Macleod: Does the BIS really mean to destroy gold and silver derivatives?
The End of Paper Gold and Silver Markets
By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, May 20, 2021
This article looks at the likely consequences of the Bank for International Settlements' introduction of the net stable funding requirement (NSFR) for bank balance sheets, insofar as they apply to their positions in gold, silver, and other commodity markets.
If the new rules are introduced as proposed, banks will face significant financing penalties for taking trading positions in derivatives. The problem is particularly important for the London gold market, as described in last week's article on this subject. Therefore banks are likely to withdraw from providing derivative liquidity and associated services.
... Dispatch continues below ...
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Asante Gold C$5 Million Placement Is Oversubscribed
and Another C$2 Million Is Accepted;
Drilling Finds 7.47 g/t Gold over 30 Meters
Company Announcement
Monday, March 22, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE, Frankfurt: 1A9, U.S. OTC:ASGOF) announces that assays have been received for the first hole of a three-hole geotechnical drill program at our Kubi Gold project in Ghana.
DDHK21-001 was collared approximately 100 meters to the north of the Kubi Pit, near the middle of the 1Kubi Main Mineral Resource. On this section gold mineralization has been previously outlined to a depth of 450 meters. The gold is free milling and occurs within a near vertical 1-kilometer by 1-meter to 15-meter-thick shear-bounded "garnet" zone.
Gold is associated with up to 30% garnet and 15% sulfide mineralization and as coarse gold in late quartz veins.
The drilling has confirmed typical Kubi Main Zone gold mineralization.
-- 30 meters grading 7.47 g/t gold (true width estimated at 7.5 meters), including:
-- 14.31 g/t over 10 meters.
-- 5.69 g/t over 9.0 meters.
-- 10.75 g/t over 16 meters.
Given the presence of visible gold and the numerous high assays received, samples have been resubmitted for screened metallics assays, which give more exact results when coarse gold is present. Further results will be announced as received. ...
... For the remainder of the announcement:
https://www.asantegold.com/news/cad-5-million-placement-oversubscribed-a...
This article delves into the consequences of the NSFR leading to the end of the London forward markets in gold and silver. Replacement demand for physical metal appears bound to rise, and an assessment is therefore made of available gold not tied up in jewellery and industrial uses. An analysis of gold leasing by central banks, leading to double ownership of physical gold, is included.
The conclusion is that unless the BIS has an ulterior motive to trigger a chaotic financial reset of some sort, it is a case of regulators not understanding the market consequences of their actions. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/goldmoney-insights/the-end-of-paper-g...
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