You are here
Hi-yo, Silver Summit 2005 ... in Idaho in September
11:07p ET Thursday, July 7, 2005
Dear Friend of GATA and Gold:
A renowned market analyst came into our camp today
-- Peter Grandich of Grandich Publications in New
Jersey, whose market commentary, reprinted tonight
at 321Gold.com --
http://www.321gold.com/editorials/grandich/grandich070705.html
-- included the text appended here.
GATA got a bit lucky today with its press release
about the research of our consultant, John Brimelow,
who proved the correlation between European central
bank sales of gold and the maintenance of the $440
price ceiling on gold since December. GATA's release
caused such a stir in the gold market that Reuters
picked it up and pro-central bank gold traders felt
compelled to respond to it, if incoherently.
But as Grandich's comments suggest, the anomalous
market action of recent months is now so obvious that
vast manipulation of most major markets is getting
impossible to deny.
There will be a decisive event to rip the cover off the
gold and silver price suppression scheme, and GATA
hopes to facilitate it at our Gold Rush 21 conference
in Dawson City, Yukon Territory, Canada, next month.
We believe that once the scheme is acknowledged and
understood, its usefulness to the central banks will
end, since its purpose is deception and the deception
will be over.
Grandich's comments are appended.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Action Committee Inc.
* * *
By Peter Grandich
Grandich Publications
Thursday, July 7, 2005
I have not been a card-carrying member of the "gold is manipulated"
fringe group within the metals and mining industry. This is not to
say I do not respect what they have to say. But after Friday's
trading pattern on the Comex and the opening today, I think I will
be contacting them for an application.
Now in my third decade of following the gold market, I believe
Friday's trading on the Comex was a "planned" bear raid and not a
random coincidence of factors that led to an +$8 decline. With a
major holiday weekend upon us and extremely illiquid trading
environment, gold suddenly tanked.
You can search until the cows come home and not find any legitimate
fundamental factor that could have even remotely led longs to
suddenly want to liquidate their positions. That this occurred as
gold was approaching levels that could have led to a breakout on the
upside ... well?
Any doubt that there is someone (or a group) attempting to get Comex
gold prices lower for reasons that the gold manipulation crowd has
repeatedly presented for a long time now left my body this morning.
Minutes before gold is set to open on the Comex this morning it
begins to fall and is heavily sold as soon as the bell rings. Did
any of the news change that led to the rise just minutes and hours
before? Why at 7:20 a.m. ET does the gold community believe gold
deserves to be up $5 but in just one hour (and with no news) do
players on the Comex hit the ground selling hard and lead gold to be
up less than a buck?
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.usagold.com/amk/usagoldmarketupdate.html
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.kereport.com
(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)
http://www.resourceinvestor.com
http://www.goldpennystocks.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.interventionalanalysis.com
http://www.investmentindicators.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com
Centennial Precious Metals
3033 East First Ave., Suite 807
Denver, Colorado 80206
1-800-869-5115
http://www.USAGOLD.com
Michael Kosares, Proprietor
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
http://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
Gold & Silver Investments Ltd.
Mespil House
37 Adelaide Rd
Dublin 2
Ireland
+353 1 2315260/6
Fax: +353 1 2315202
http://www.goldinvestments.org
info@gold.ie
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
http://www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Lone Star Silver Exchange
1702 S. Highway 121
Suite 607-111
Lewisville, Texas 75067
214-632-8869
http://www.discountsilverclub.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
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
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
The Moneychanger
Box 178
Westpoint, Tennessee 38486
http://www.the-moneychanger.com
Franklin Sanders
1-888-218-9226, 931-766-6066
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html
By GoldMoney:
http://www.GoldMoney.com
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $1,000 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled GATA.
Donors of $200 or more will receive copies
of "The ABCs of Gold Investing" by Michael
Kosares, proprietor of Centennial Precious
Metals in Denver, Colorado, and "The Coming
Collapse of the Dollar" by James Turk and
John Rubino.
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.
