Technical analysis of gold market increasingly acknowledges manipulation

9:40p ET Sunday, October 28, 2007

Dear Friend of GATA and Gold:

Technical analysis of the gold market increasingly is acknowledging government-backed manipulation.

Gene Arensburg's "Gold Gold Report" at Resource Investor tonight does so and even cites your secretary/treasurer's remarks on the subject at the New Orleans Investment Conference last week. You can find Arensburg's report here:

http://www.resourceinvestor.com/pebble.asp?relid=37198

Over at Market Oracle, Merv Burak's weekly technical report observes of the exploding short position in gold:

"They've added another 16,000 short contracts this past week and that's not including Friday. I'll bet that the open interest really moved on Friday. All that money trying to cool the bullish run on gold. Who, oh who could be that speculative to be risking all that capital on the short side when the strength is on the up side? Unless ... maybe the shorts are not playing with their own personal money."

Burak's report can be found here:

http://www.marketoracle.co.uk/Article2589.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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