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Gold rush brings smaller miners to American Stock Exchange
Gold Market Summary for Thursday, April 1, 2004
By Jim Sinclair
http://www.jsmineset.com
Today was a battle royale between the new gold bulls
and the old gold bears as 95 percent of the comatose
gold community sat on the sidelines cheering and
booing the valiant players on both sides.
Regardless of the fact that they oppose the gold
community, the bears showed real guts today between
$430 and $435. The new bulls fought hard, dragging
gold back from the $426 level against a hornet's nest
of opposition.
At the close of the Comex, the day was clearly in the
hands of the bulls, who prevented the desired close under
$428. Then in the cash market the rain of gold continued
from the bears and at 5 p.m. ET it was trading at $425.80
to $426.10.
There are still strange footprints in the dollar that have
yet to be defined. However, the hunt is on and they will be
identified. The supply of gold between $430 and $435 will
be overcome but that might take some consolidation first.
Markets get stretched out when they have one-way runs.
Gold is up more than $40 since we called the bottom. That
is a stretch that can continue only if the driver is a
geopolitical event in the making. The crisis in energy prices
continues as the falsification of economic indicators reaches
a point of total absurdity.
The goal of the Comex floor traders is to run the mental stops
on the 45,000 contracts that have been newly acquired. I have
been informed that they are still in inventory.
Should gold persist under $428 into Friday's opening, that
would call for a push to $423. At $423 the bulls will make
their stand, so be prepared for another shoot out at the Comex
corral tomorrow.
The rub is that every day the world is moving toward some sort
of military/terrorist catharsis and the solutions being applied
do not seem to be easing that progression.
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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