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Ted Butler: Silver''s outlook remains spectacular in trader report
1:22a ET Wednesday, June 2, 2004
Dear Friend of GATA and Gold:
AIG International has been to the silver market what
N.M. Rothschild has been to the gold market. And
now, as you'll see from the Reuters story appended,
AIG is resigning its leadership of the gold and
silver markets just as Rothschild resigned its
leadership of the gold market.
Maybe it's just a coincidence. Or maybe the people
at the top of the paper pyramids see trouble on the
horizon and don't want to be considered responsible
when it arrives.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
AIG No Longer an LBMA Market Maker in Gold, Silver
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=5309286
LONDON, June 1 (Reuters) -- AIG International Ltd.,
part of American International Group Inc., will no
longer be a London Bullion Market Association (LBMA)
market maker in gold and silver, the LBMA said on Tuesday.
LBMA Chief Executive Stewart Murray told Reuters AIG
had been reclassified as a member and so would still
trade, with effect from close of business on Friday,
May 28.
AIG was a first-tier market maker and dealer in
over-the-counter spot, forward, option, and swap markets
in precious metals. Murray said the company requested
to be reclassified.
AIG was not immediately available for comment.
After the sudden withdrawal of NM Rothschild from
commodities trading in April, AIG 's decision takes
the number of bullion market makers down to eight.
The remaining market makers include members of the
London gold fix -- which sets the price of the metal
twice daily -- the Bank of NovaScotia, Deutsche Bank
AG, HSBC Bank USA, and Societe Generale. Barclays
Capital will be the fifth fixing member as it purchased
Rothschild's seat earlier this week.
The non-fixing market makers are J. Aron, a unit of
Goldman Sachs, J.P. Morgan, and UBS.
Although bullion has had a decent run higher in the
past year as prices moved to 15-year highs in early
January on a flailing dollar and global security worries,
analysts have said this does not mean that players in
the market are raking in cash due to thin liquidity.
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
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NEWS AND ANALYSIS
Free sites:
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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)
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Eagle Ranch discussion site:
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Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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