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Ronan Manly

Ronan Manly

Ronan Manly is a precious metals analyst with BullionStar whose blogs
often cover current themes including what's going on in the
London gold market and the gold activities of central banks.

By Not Renewing the CBGA, Central Banks in Europe Look Ready to Buy Gold
Gold & Silver Price Manipulation – The Greatest Trick ever Pulled
Poland joins Hungary with Huge Gold Purchase and Repatriation
Mahathir’s Gold-backed Currency – Loose Talk or pan-Asian Plan?
The Fifth Wave: A new Central Bank Gold Agreement?

The Fifth Wave: A new Central Bank Gold Agreement?

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  • author Ronan Manly
  • Comments 6 Comments

With the fourth Central Bank Gold Agreement (CBGA) about to expire in September, a relevant question now is will there be a fifth CBGA?

Devised by a cartel of western central banks, the first two CBGAs achieved what they had intended to i.e. provide cover over 1999 - 2008 to close off gold sales and loans that had taken place years before.

And as China, Russia and...
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Gold Price Breakout in Multiple Currencies

Gold Price Breakout in Multiple Currencies

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  • author Ronan Manly
  • Comments 4 Comments

The gold price is now making new multi-year and all time highs in many of the world’s most important and most liquid fiat currencies, including the commodity currencies of the Canadian dollar and Australian dollar, and other major currencies such as the Swedish Krona, Singapore dollar, British pound and Euro.

A new multi-year high in US dollar gold is also a possibility right...
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Still Firing on all Cylinders: China’s Physical Gold Market
Pay-to-Play: LBMA shows contempt for the wider Gold and Silver markets
The only gold the US shows – A working vault at West Point

The only gold the US shows – A working vault at West Point

  • Date
  • author Ronan Manly
  • Comments 7 Comments

On its sporadic visits to the US Mint’s bullion depository at West Point, New York, the attending media only ever sees a ‘working vault’ of about 3000 gold bars used as input into the Mint’s bullion coin minting programs.

This is despite the West Point Mint claiming to store 54 million ounces (135,000 gold bars) across 11 ‘deep storage’...
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Curse of the London Gold Fix strikes again as SocGen abandons ship
The vast gold hoards held by Germany’s population

The vast gold hoards held by Germany’s population

  • Date
  • author Ronan Manly
  • Comments 9 Comments

A new survey in Germany finds that the German public holds over 8900 tonnes of gold, with a majority of this gold held in the form of investment gold bars and gold coins.

This is quite a staggering number and is more than 2.6 times the amount of gold held by Germany’s central bank, the Bundesbank.

German citizens hold gold as a form of wealth preservation and as a...
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When Politicians and Central Banks clash – the Gold of Romania and Italy
The Domino Effect – Romania joins Gold Repatriation exodus
RBA bosses squirm as Aussie politicians throw easy questions about RBA gold in London
Australia’s gold at the Bank of England – Extended Q & A

Australia’s gold at the Bank of England – Extended Q & A

  • Date
  • author Ronan Manly
  • Comments 4 Comments

Recently, news network RT.com asked for BullionStar's comments on the question of the Reserve Bank of Australia's (RBA) gold reserves supposedly stored at the Bank of England's gold vaults in London.

Using some of these comments, RT has now published an article on the topic on its English language news website.

Since the full set of RT questions and BullionStar's...
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Italy’s Gold enters the Political Fray. But who really owns it?
Bank of England tears up its Gold Custody contract with Venezuela’s central bank
Separating truth from fiction in China’s golden game of Poker
Russian Central Bank buying Gold on the International market?

Russian Central Bank buying Gold on the International market?

  • Date
  • author Ronan Manly
  • Comments 11 Comments

The Russian central bank has bought so much gold this year that its purchases now exceed the amount of gold mined in Russia during 2018.

But with a policy of buying domestic gold mining output, the central bank will now need to look further afield to fulfill its gold reserve purchase requirements.

As existing agents of the central bank, the large Russian commercial...
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Venezuela’s gold in limbo amid tug-of-war at the Bank of England

Venezuela’s gold in limbo amid tug-of-war at the Bank of England

  • Date
  • author Ronan Manly
  • Comments 19 Comments

As one of the world’s largest custodians of central bank gold, the Bank of England is attracting unwanted attention in a bizarre saga involving 14 tonnes of Venezuela’s gold.

A whole cast of colorful characters has recently emerged on both sides, those wanting the gold to be returned and those wanting the gold to be confiscated.
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French central bank and JP Morgan team up to boost Gold Lending
LBMA trading volume data confirms the paper gold casino in London
Bank of England refuses to return 14 tonnes of gold to Venezuela
Does the recent spate of Central Bank gold buying impact demand and price?
In surprise move, Central Bank of Hungary announces 10-fold jump in its gold reserves
Skepticism reigns about the True state of Chinese central bank gold reserves
LBMA Clearing and Vaulting data reveal the absurdity of the London ‘Gold’ Market
Paulson’s Shareholders Gold Council finally launches after initial delays
Chinese Gold Panda Coins now trading on the Shanghai Gold Exchange (SGE)
As Emerging Market Currencies Collapse, Gold is being Mobilized
Annual Mine Supply of Gold: Does it Matter?

Annual Mine Supply of Gold: Does it Matter?

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  • author Ronan Manly
  • Comments 1 Comments

There is a relative fixation in the gold industry on new gold mining supply, and the prospects of unextracted gold reserves running out within the next few decades. However, current in-ground gold reserves are not the full picture, since in-ground gold 'resources' are far larger still.

But beyond annual gold mining output, its important to remember that the world's...
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LBMA at the Movies: Golden Turkeys

LBMA at the Movies: Golden Turkeys

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  • author Ronan Manly
  • Comments 6 Comments

The London Bullion Market Association (LBMA) has recently published a series of short videos claiming to explain 'Who They Are' and 'How the OTC precious metals Markets Work'.

But a quick glance at the content confirms that nearly none of the subject matter addresses the questions set by the titles. Are they deliberately avoiding the questions? If the answer is yes, then it...
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Spotlight on the HUI and XAU Gold Stock Indexes

Spotlight on the HUI and XAU Gold Stock Indexes

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  • author Ronan Manly
  • Comments 1 Comments

Take a quick look at most gold investing websites or indeed general investing websites and you will invariably see the names of the HUI and XAU gold mining indexes displayed alongside their respective index 'prices'. But what are the HUI and XAU indexes, how are they constructed, and who operates them? And which gold mining stocks do they hold? And how do the two indexes differ? Continue Reading arrow

Chinese Gold Market: Still in the Driving Seat
Gold’s Price Performance: Beyond the US Dollar

Gold’s Price Performance: Beyond the US Dollar

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  • author Ronan Manly
  • Comments 3 Comments

The mainstream media's fixation with the US dollar price of gold is constant and non-stop, even more so as the first half of 2018 drew to a close and a wall of commentary and headlines erupted about the price of gold in US dollar terms slipping on a 6-month measurement scale.

However, it is not the full story, because in some major national currencies as well as in...
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The Shareholders Gold Council (SGC) – “Just don’t mention the Gold Price”
Sovereign Money Referendum: A Swiss Awakening to Fractional-Reserve Banking?
Turkey and Russia Highlight Gold’s Role as a Strategically Important Asset
Spoofing Futures and Banging Fixes: Same Banks, Same Trading Desks
US Gold and Silver Futures Markets -

US Gold and Silver Futures Markets - "Easy Targets"

  • Date
  • author Ronan Manly
  • Comments 2 Comments

Following the charging of five precious metals traders and three banks in January 2018, Commodities Futures Trading Commission and Department of Justice documents reveal a global criminal cabal of 16 traders operating in at least four major financial institutions between 2008 and 2015 to defraud COMEX gold and silver futures markets.

This new guest post by Allan Flynn,...
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Central Banks Care about the Gold Price – Enough to Manipulate it!
Why the World’s Central Banks hold Gold – In their Own Words
LBMA Alchemy and the London Gold and Silver Markets: 2 Steps Back
What’s Happening (or Not) at the LBMA: Some Updates
US Gold Reserves, Of Immense Interest to Russia and China
Russia, China and BRICS: A New Gold Trading Network
LME gold and silver Reference Prices: Will anyone notice?
Neck and Neck: Russian and Chinese Official Gold Reserves
LBMA Silver Price Benchmark – Changes, but no Wider Participation
Mnuchin’s PR Visit to Fort Knox proves nothing about the US Gold Reserves
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