Daily Dispatches

Dollar, U.S. interest rates depend on Asian central banks, NY Fed report warns

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From Reuters
Tuesday, October 26, 2004

http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=6616573

NEW YORK -- Regulatory approval for a much-anticipated
gold-backed security that is expected to soon launch on
the New York Stock Exchange takes time and has not
been delayed, the NYSE's chief executive said on Tuesday.

Gold-backed security hasn''t been delayed, exchange chief insists

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From InvestmentRarities
www.InvestmentRarities.com
Tuesday, October 26, 2004

Ted Butler's current comments appear at the
bottom of this report.

In an article written in February 2001, when
gold was $267 and silver was $4.30, Butler
wrote the following:

* * *

Gold is cheap. Gold should significantly jump
in price soon and surprise most observers. I think
anyone that's short is crazy -- especially the big

Ted Butler: Bullion dealers have never been shorter, hedge funds never longer

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8:39a ET Tuesday, October 26, 2004

Dear Friend of GATA and Gold:

GoldMoney proprietor James Turk, editor of the
Freemarket Gold & Money Report and consultant
to GATA, observes in new commentary that the
U.S. dollar has fallen 4 percent in 12 trading
sessions and has entered a "waterfall" decline
that is propelling gold in the other direction.
You can find Turk's analysis in the "founder's

James Turk: A ''waterfall decline'' for the dollar

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Gold Waits as Base Metals Fall;
South African Bid Is Reminder
that the Commodity Has Great Potential

Barry Riley
Financial Times
Monday, October 25, 2004

It has been a frustrating year for gold bugs, who have
been forced to watch the bullion price tracking
sideways while other commodities have been soaring
-- oil by 60 percent and copper by 25 percent.

But Harmony's cheeky bid last week for the somewhat

Financial Times: Is the dollar about to fall off a cliff?

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From Pravda Online, Moscow
Friday, October 22, 2004
http://newsfromrussia.com/main/2004/10/22/56751.html

The weighted average dollar exchange rate was
29 RUR/USD in the first 90 minutes of trade at a
special session today. Thus, the official dollar rate
for October 23-25 will decrease by RUR0.12. This
is the most considerable one-day drop of the dollar

Financial Times'' Barry Riley examines gold''s prospects and cites GATA

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1:24a ET Monday, October 25, 2004

Dear Friend of GATA and Gold:

"Conspiracies rarely exist," Dennis Gartman wrote
in the September 14 edition of The Gartman Letter,
disparaging GATA's contention that central banks
and bullion banks have been working together to
suppress the gold price.

But Gartman sounded a little different about gold
in his edition of Friday, October 22:

The Gartman Letter shifts from denial to preferring not to know

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By Steve Johnson
Financial Times, London
Saturday, October 23, 2004

http://news.ft.com/cms/s/2df17324-2490-11d9-a110-00000e2511c8.html

After months of relative torpor the currency market
burst into life this week as the pressures building on
the U.S. dollar finally forced the greenback to crack.

The dollar spiralled out of the tight trading range of

Russian central bank stops supporting dollar

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12:53p ET Saturday, October 23, 2004

Dear Friend of GATA and Gold:

The November issue of Financial Insights, the newsletter
of Dr. Richard S. Appel, provides an excellent overview
of the real gold market and recognizes GATA's work.
Appel has generously granted permission for a large part
of his November issue to be shared with you here, so it
is appended.

Financial Insights discusses gold, the financial markets,

Financial Insights newsletter explains the real gold market

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By Jerry Norton and Karima Anjani
Reuters
Saturday, October 23, 2004

http://www.reuters.com/financeQuoteCompanyNewsArticle.jhtml?
duid=mtfh24487_2004-10-23_14-42-11_jak68061_newsml

JAKARTA -- Five officials of a unit of U.S.-based gold
miner Newmont Mining Corp accused of dumping toxic
waste in Indonesia left jail on Saturday after being held

Sanders Research interviews GATA Chairman Bill Murphy

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9:19p ET Thursday, October 21, 2004

Dear Friend of GATA and Gold:

Thanks to GATA supporter Martin Thomas for
noting this chart by Professor Werner Antweiler
of the University of British Columbia in
Vancouver, plotting the performance of five
major currencies against gold since July:

http://shmyl.com/ppzison

Looks like the metal is starting to get away

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