Daily Dispatches

More speculation on Barrick, and lots of news from the San Francisco conference


9:53p ET Monday, November 24, 2003

Dear Friend of GATA and Gold:

Tonight's recommended reading is Jim Sinclair's latest
analysis of the Barrick situation, "Did Toronto's Globe &
Mail Explain Friday's Gold Market?" Sinclair concludes
that bankers pulled the plug on Barrick's hedge book.
You can find the essay here:


Peter Brimelow commentary on ''Gold''s Slow Rush at $400''


7:10p ET Sunday, November 23, 2003

Dear Friend of GATA and Gold:

As you're waiting for the gold market's reaction to
the upheaval at Barrick Gold, you might want to
check out a report at CBSMarketWatch, "Gauging
the Commodity Price Gains," which quotes Gold
Newsletter editor and New Orleans Investment
Conference organizer Brien Lundin. You can find
it here:


Sinclair says bankers pulled plug on Barrick; 3 Calandra interviews at SF show


9:14a ET Monday, November 25, 2003

Dear Friend of GATA and Gold:

Here's MineWeb's report on Barrick's reversal on


Or try this abbreviated link:


MineWeb reports on Barrick''s reversal on hedging


1:10a ET Monday, November 24, 2003

Dear Friend of GATA and Gold:

CBSMarketWatch's Peter Brimelow analyzes "Gold's
Slow Rush at $400," takes a well-deserved swipe at
Robert Prechter of the Elliott Wave cult, and wonders
about the upheaval at Barrick Gold. You can find it


Approaching the breakout point, GoldMoney''s Turk writes


12:30p ET Sunday, November 23, 2003

Dear Friend of GATA and Gold:

Jim Sinclair has posted "A Review of Last Week's Gold
Market," which is largely an expert speculation about
why Barrick Gold last week reversed its position on
hedging so abrupty and why Goldman Sachs and others
were desperate to cap gold below $400. Sinclair argues
essentially that gold derivatives have hit the

What does Barrick''s abrupt reversal on hedging really mean?


11:29a ET Saturday, November 22, 2003

Dear Friend of GATA and Gold:

GATA isn't in the investment advice business, but maybe
we can be forgiven for alerting our supporters to
commentary likely to make them less agitated or neurotic
about gold. In that spirit the new commentary of Robert
Bishop, editor of Gold Mining Stock Report, just posted
at Kitco, is highly recommended. Bishop's commentary

Gauging the commodity price gains


12:37p ET Sunday, November 23, 2003

Dear Friend of GATA and Gold:

GATA consultant James Turk, editor of the Freemarket
Gold & Money Report and proprietor of GoldMoney,
has posted new commentary at GoldMoney's Internet
site, "Approaching the Breakout Point." This commentary
tracks gold's performance in currencies other than the
U.S. dollar. You can find it in the "Founder's

Strange things are happening with Barrick Gold


By Veronica Brown


LONDON, Nov. 21 (Reuters) -- Barrick Gold Corp. stunned
bullion markets on Friday by saying it was changing its
hedging policy, and is no longer committed to selling the
metal on forward markets as it is now cash-rich.

"The commitment to hedging is gone. ... Hedging to us is

Don''t be preoccupied with the short term for the gold price


Gold Prices Gain as Big Miner Abandons Hedging Strategy

Bloomberg News in The New York Times

November 22, 2003


Gold futures in New York rose for the first time in three
days yesterday after Barrick Gold, the big producer,

NYTimes prints Bloomberg story about Barrick''s reversal on hedging


12:24a ET Saturday, November 22, 2003

Dear Friend of GATA and Gold:

Something really strange is going on with Barrick Gold.

Thursday at a financial conference in London, Barrick
Chairman Peter Munk made what MineWeb called a
"spirited" defense of the company's policy of selling
so much of its gold in advance of its production. But
today Munk told news reporters at the same conference

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