SUMMARY / RELATED TOPICS

1524

Year 1524 was a leap year starting on Friday of the Julian calendar. January 17 – Florentine explorer Giovanni da Verrazzano, on board La Dauphine in the service of Francis I of France, sets out from Madeira for the New World, to seek out a western sea route to the Pacific Ocean. March – Spanish conquistador Pedro de Alvarado destroys the K'iche' kingdom of Q'umarkaj, taking the capital, Quiché. March 1 – da Verrazzano's expedition makes landfall at Cape Fear. April 17 – Verrazzano's expedition makes the first European entry into New York Bay, sights the island of Manhattan. April 30 – Battle of the Sesia: Spanish forces under Charles de Lannoy defeat the French army in Italy, under William de Bonnivet; the French, now commanded by François de St. Pol, withdraw from the Italian Peninsula. June 8 – Battle of Acajutla: Spanish conquistador Pedro de Alvarado defeats a battalion of Pipiles, in the neighborhoods of present day Acajutla, El Salvador. Summer – Paracelsus visits Salzburg. July 8 – Verrazzano's expedition returns to Dieppe.

August -- September -- Marseille is besieged under the Duke of Bourbon. August – Protestant theologians Martin Luther and Andreas Karlstadt dispute at Jena. October 28 – A French army invading Italy, under King Francis, besieges Pavia. December 8 – Francisco Hernandez de Cordoba founds the city of Granada, the oldest Hispanic city in the mainland of the Western Hemisphere; the first Dalecarlian rebellions break out in Sweden. February 10 – Albrecht Giese, German politician and diplomat February 17 – Charles, Cardinal of Lorraine, French cardinal May 28 – Selim II, Ottoman Sultan June 12 – Achilles Statius, Portuguese humanist June 24 – Johann Stössel, German theologian August 14 – Elizabeth of Denmark, Duchess of Mecklenburg, Danish princess August 23 – François Hotman, French Protestant lawyer and writer September 7 – Thomas Erastus, Swiss theologian September 11 – Pierre de Ronsard, French poet October 4 – Francisco Vallés, Spanish physician October 5 – Rani Durgavati, Queen of Gond October 9 – Ottavio Farnese, Duke of Parma October 16 – Nicolas, Duke of Mercœur, French Catholic bishop November 12 – Diego de Landa, Bishop of the Yucatán date unknown Jan Borukowski, royal secretary of Poland Armand de Gontaut, baron de Biron, French soldier Jean Pithou, French lawyer and author.

London bullion market

The London bullion market is a wholesale over-the-counter market for the trading of gold and silver. Trading is conducted amongst members of the London Bullion Market Association, loosely overseen by the Bank of England. Most of the members are bullion dealers and refiners; the physical characteristics of gold and silver bars used in settlement in market is described by the Good Delivery specification, a set of rules issued by the LBMA. It puts forth requirements for listing on the LBMA Good Delivery List of approved refineries. Internationally, gold is traded via over-the-counter transactions, with limited volume trading on the New York Mercantile Exchange and Tokyo Commodity Exchange based on the LBMA price. Twice daily, at 10:30 AM and 3:00 PM. the LBMA publishes the gold price in US dollars. These forward contracts are known as gold futures contracts. Spot gold is traded for settlement two business days following the trade date, with a business day defined as a day when both the New York and London markets are open for business.

Unlike many commodity markets, the forward market for gold is driven by spot prices and interest rate differentials, similar to foreign exchange markets, rather than underlying supply and demand dynamics. This is because gold, like currencies, is borrowed and lent by central banks in the interbank market. Interest rates for gold tend to be lower than US domestic interest rates; this encourages gold borrowings. Except in special circumstances the gold market tends to be in positive contango, i.e. the forward price of gold is higher than the spot price. This has made it an attractive market for forward sales by gold producers and contributed to an active and liquid derivatives market; the bulk of global trading in gold and silver is conducted on the over-the-counter market. London is by far the largest global centre for OTC transactions followed by New York and Tokyo. Exchange-based trading has grown in recent years with Comex in New York and Tocom in Tokyo generating most of the activity. Gold is traded in forms of securities, such as exchange-traded funds, on the London, New York and Australian stock exchanges.

Although the physical market for gold and silver is distributed globally, most wholesale OTC trades are cleared through London. The average daily volume of gold and silver cleared at the LBMA auctions in May 2019 was 18.6 million troy ounces and 211.8 million troy ounces respectively. The Gold Anti-Trust Action Committee has claimed that clearing data understates the true amount of gold traded due to the netting of trades in the calculation of Clearing Statistics. Allocated accounts are accounts held by dealers in clients' names on which are maintained balances of uniquely identifiable bars, plates or ingots of metal'allocated' to a specific customer and segregated from other metal held in the vault; the client has full title to this metal with the dealer holding it on the client's behalf as custodian. To avoid any doubt, metal in an allocated account does not form part of a precious metal dealer's assets. Unallocated accounts represent the most popular way of trading and holding gold, silver and palladium.

Transactions may be settled by credits or debits to the account while the balance represents the indebtedness between the two parties. Credit balances on the account do not entitle the creditor to specific bars of gold or silver or plates or ingots of platinum or palladium but are backed by the general stock of the precious metal dealer with whom the account is held; the client in this scenario is an unsecured creditor. The total quantity of unallocated gold is estimated to be 15,000 tonnes at the end of 2008 which supports the 2,134 tonnes on average of spot gold trade through London every day representing 14.2% of the pool. This compares to average daily turnover in UK equities of between 0.34% and 0.63% for the 12 months ending September 2009. While members of the LBMA provide no information on the backing for unallocated gold the improbably high turnover is suggestive they are operating a fractional reserve system where unallocated accounts are only backed by physical gold. To a bank run this makes LBMA unallocated gold accounts susceptible to loss if a sufficient number of market participants request delivery of physical bullion.

LBMA accepts memberships from companies that deal with business related to gold or silver bullion in the London market. Members pay between £ £ 12,000 annually depending on membership type. LBMA members come from Australia, Canada, Germany, Hong Kong, Italy, Kazakhstan, Mexico, Poland, Russian Federation, South Africa, Taiwan, United Arab Emirates, United Kingdom, United States, Uzbekistan. A full membership in the LBMA enables members to expand operations internationally, like it did for VTB Bank, for example. VTB, a Russian-based bank, joined in 2015 as the first full member from Russia and was able to begin expanding into Asian emerging markets as a result; each year the LBMA forecast gathers the opinions of selected bankers and analysts who follow the precious metals markets with their forecasts for the high and average dollar fixing price per troy ounce for gold, silver and palladium. The aim of the LBMA forecast is to predict the average and low price for each metal as as possible; the prediction closest to the average price wins.

In the event of a tie the forecast range is taken into account. In the 2009 LBMA forecast Philip Klapwij

Paris Zoological Park

The Paris Zoological Park known as the Bois de Vincennes Zoological Park, called the Vincennes Zoo, is a facility of the National Museum of Natural History, located in the 12th arrondissement of Paris, which covers an area of 14.5 hectares in the bois de Vincennes. Designed to complement the Ménagerie du Jardin des plantes, this zoo is dedicated to the observation of animal behavior in a more suitable environment. Since its opening in 1934, it is remarkable for its large artificial 65 m high rock, iconic scenery of the park, visible from afar and popularly called the "Big Rock"; this zoo include a greenhouse of 4,000 m2 sheltering a tropical rainforest climate. The zoo was closed between 30 November 2008 and 12 April 2014 after becoming dilapidated and too small for its residents, according to criteria of the twenty-first century; the renovation, which began on 7 December 2011, took place over nearly two and a half years. The pens have been reviewed and grouped into five major natural environments.

The work allowed them to reach modern standards for animal welfare, public safety and museology, with increased attention to the respect of the environment. Media related to Parc zoologique de Paris at Wikimedia Commons