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GATA Chairman Murphy interviewed at Vancouver conference
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=5582687
NEW YORK, July 4 (Reuters) -- Newmont Mining Corp.'s
president, Pierre Lassonde, said that the price of gold is
at the beginning of a long-term bull run, which should
support the company's stock, the latest edition of
business weekly Barron's reported.
Lassonde, who owns nearly $100 million of stock
according to Barron's July 5 edition, told the magazine
that a deteriorating outlook for the U.S. dollar would
underpin a "paradigm shift" that would send gold on a
long-term rally.
Newmont's stock has moved in tandem with gold
prices, which settled at $398.70 per ounce on the
COMEX on Friday. Newmont's shares closed higher
in response, gaining 2.76 percent to end at $39.16
on the New York Stock Exchange.
But gold has fallen sharply from its 2004 peak of
$426 per ounce and Newmont's stock has followed
suit, tumbling from $50 to $39, Barron's said. As a
result of the seemingly direct correlation between
the price of gold and its share price, the article
said Newmont's outlook is as mixed as that of the
precious metal.
Newmont's president said in the article that he sees
gold trading in a band of $380 to $450 per ounce.
Lassonde also said that selling the dollar and buying
gold was the best way to diversify away from currency
risk.
Newmont's lack of gold-production hedging allows its
stock to take flight when gold prices go on a tear,
Barron's said. According to the article, Newmont's
stock has surged 127 percent since 2001.
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
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NEWS AND ANALYSIS
Free sites:
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http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
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http://www.plata.com.mx/plata/plata/english.htm
(In English)
Subscription site:
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Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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WHO HAVE SUPPORTED GATA
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BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
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Centennial Precious Metals
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www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
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cpm@usagold.com
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222 South 5th St.
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178 West Service Road
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and
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Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
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6139 South Rural Road
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Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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