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Gene Arensberg's 'Got Gold Report' flash
11:40p ET Friday, May 21, 2010
Dear Friend of GATA and Gold (and Silver):
Gene Arensberg's "Got Gold Report" tonight expresses some puzzlement that heavy shorting by large commercial traders didn't show up more in the gold traders report just before this week's smashdown in the precious metals. Arensberg writes:
"For gold we cannot point to the commercials being aggressive in their hedging and short selling just ahead of this week's knock-down in the markets. Indeed, they actually reduced their collective net short positioning a little just ahead of the harsh move lower. But in silver we certainly can point to just that. The commercials piled on the short side in a big way just as the sell-down was getting under way."
Arensberg's report is headlined "COT Flash May 21" and you can find it here:
http://treo.typepad.com/20100521COTflashPDF.pdf
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
Join GATA here:
World Resource Investment Conference
Sunday and Monday, June 6 and 7, 2010
Vancouver Convention Centre
Vancouver, British Columbia, Canada
http://www.cambridgehouse.ca/index.php/world-resource-investment-confere...
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Support GATA by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
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Coming Friday-Sunday, June 11-13, at the Dallas-Fort Worth Airport Marriot:
The Anglo Far-East Bullion Co.'s Gold and Silver Conference
The conference will explore the dangers and opportunities in today's bullion markets and the need for investors to diversify bullion holdings outside of bullion banking and commodities markets. Speakers will include David Morgan of Silver-Investor.com, Gold Anti-Trust Action Committee Chairman Bill Murphy, and Duncan Cameron and Philip Judge of Anglo Far-East Bullion Co. The earliest conference attendees on Saturday will be able to schedule one-on-one interviews for personal consultation with Anglo-Far East's experts on Sunday.
To learn more about and register for the Anglo Far-East Bullion conference, please visit:
http://www.anglofareast.com/seminar-registration/
