Daily Dispatches

Yen carry trade unwinding risks 1998-style fall in dollar


5:43p ET Saturday, October 11, 2003

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of The Freemarket
Gold & Money Report and consultant to GATA, has posted
a new commentary at the GoldMoney Internet site,
wherein he asks whether the Oct. 3 pounding of gold on
the Comex did any damage to gold's trend as charted
against currencies. Turk's charts show that gold's upward

Gold''s upward trend is intact, breakout likely within two months, Turk says


Putin's idea to price oil in euros may hurt dollar

By Carola Hoyos and Christopher Swann in London
and Andrew Jack in Moscow
Financial Times
Friday, October 10, 2003


After weeks of being battered on the foreign exchanges, the

Financial Times reports on Russia''s flirtation with the euro



WASHINGTON (Agence France-Presse) -- The US
administration has embarked on a risky strategy to
bring down the value of the dollar as part of an
effort to keep a fragile economic recovery on track.

Analysts say the US effort could alleviate some

Welcome to the weak dollar policy



YEKATERINBURG, Russia, Oct. 8 (Reuters) -- A German
government source said on Wednesday that Russia may
switch to pricing oil sales in euros rather than dollars,
potentially huge news for financial markets.

However, Russian energy and finance ministry officials
said they were unable to confirm any change was planned.

Russia may switch oil pricing to euros, German source says


10:24a ET Tuesday, October 7, 2003

Dear Friend of GATA and Gold:

CBSMarketWatch Editor Thom Calandra's latest
"StockWatch" column is an interview with
Ashanti Gold CEO Sam Jonah, and may be
especially interesting for Jonah's remark that
the International Monetary Fund is discouraging
the government of Ghana from investing in new
gold mines.

You can find Calandra's column here:

IMF discourages gold mining investment in Ghana, Ashanti CEO tells Calandra


By Stella Dawson
Chief ECB Correspondent

FRANKFURT, Oct. 6 (Reuters) -- European policymakers
warned on Monday against too rapid foreign exchange
movements, in what analysts called an attempt to slow
the euro's rapid ascent against the dollar.

Central banks declare they''ll do anything to stop free market but nobody gets it


9:29p ET Monday, October 6, 2003

Dear Friend of GATA and Gold:

South African gold market analyst Victor Hugo has produced
as complete an endorsement of GATA's work as we've gotten.
He writes tonight:

"After weeks of work to get up to the $380s, just about every
precious metals trader I talk to confirms that the footprints
and timing of price action in recent weeks suggest massive

Lots of good reading tonight -- and a happy ending to Friday''s rout of gold


8:23p ET Monday, October 6, 2003

Dear Friend of GATA and Gold:

This article from Canada's Financial Post is interesting
for acknowledging, in passing, that gold has "powerful
enemies." The author doesn't go into details, but he may
have figured that this was the most he could get published
at the moment without risking transfer to the sewer
commission beat and that you could figure it out.

Gold has ''powerful enemies,'' Financial Post observes in passing


7:53p ET Sunday, October 5, 2003

Dear Friend of GATA and Gold:

GATA consultant James Turk, proprietor of GoldMoney
and editor of The Freemarket Gold & Money Report, has
written a detailed description of how the U.S. government
ran the stops in the gold market on Friday and how it
intervenes in the gold market generally. Turk also has
discovered new discrepancies in the gold accounting by

Traders are getting wise to bank intervention against gold, Hugo writes


8:56p ET Monday, October 6, 2003

Dear Friend of GATA and Gold:

Here's a great read about a small conference on silver
mining recently held in Idaho. It's a reminder that all
real productivity and wealth involve the extractive
industries, the use of the physical substances of the
planet to make real things.


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