8:04p ET Monday, November 11, 2005
Dear Friend of GATA and Gold:
Thanks to Peter Grandich of The Grandich Letter,
GATA and gold scored doubly today, first by the
distribution of his latest commentary and its
reposting at Kitco --
http://www.kitco.com/ind/grandich/nov212005.html [1]
-- and then by his getting quoted about
manipulation of the gold market in the
CBSMarketWatch metals market wrapup story
this afternoon. That story is appended.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Gold extends rally; copper dips
By Ciara Linnane
CBSMarketWatch.com
Monday, November 21, 2005
http://www.marketwatch.com/news/story.asp?guid=%7BA68C93AF%2D879D% [2]
2D4480%2DB618%2D5E8F9E9B49A9%7D&siteid=mktw&dist=
NEW YORK -- Gold futures set a fresh 18-year high Monday, adding to
recent gains on continued strong physical demand, central bank
buying and inflation concern.
Gold for December delivery closed up $3.30 at $489.50 an ounce,
having earlier touched a high of $490.50 an ounce, its highest level
since December 1987.
"The primary factors driving gold today include the threat of
inflation, jewelry demand, and central government (primarily Russia)
buying," said Oscar Nelson, gold trader at U.S. Global
Investors. "In addition, gold is increasingly becoming a viable
investment alternative in times of choppy stock and bond market
action."
Peter Grandich, editor of The Grandich Letter, agreed and added one
more factor -- major players caught with short positions.
"I believe groups who have tried to artificially depress gold prices
are in serious trouble and can cause a far greater rise than most
assume today," said Grandich.
Gold futures added almost $17 an ounce last week with many analysts
expecting the metal to surpass the $500 an ounce level before the
end of the year and trade above that heading into 2006.
Silver futures ended up $6.60 cents at $8.133 an ounce. Platinum
futures closed down $4.50 at $981.60 in a continued pullback from
last week's $1,000 an ounce peak. Its sister metal palladium closed
up $1.75 at $268.75 an ounce.
Copper set a fresh record at $1.989 a pound, before pulling back to
close down at $1.9735.
Copper prices surged last week amid speculation China is being
forced to buy large quantities of the metal to cover a position
taken by a Chinese copper dealer in London, who subsequently
disappeared.
The trader, Liu Qibing, reported to have taken short positions equal
to 100,000-200,000 tons of copper, is now in police custody in
Beijing, AFX News reported, citing China publication the Economic
Observer.
The news agency also said that China's State Reserve Bureau (SRB)
has been shipping copper reserves to Shanghai from around the
country to prepare to cover the short position on the London Metals
Exchange. Qibing's position is scheduled for delivery in December.
On the supply side, gold supplies stood at 6.52 million troy ounces
as of late Friday, down from 6.62 million the previous day. Copper
supplies were slightly lower at 3,690 short tons against 3,680 short
tons and silver was unchanged at 116.4 million troy ounces.
Metals equities also rallied with the Philadelphia Gold and Silver
Index closing up 2.6% at 118.03, while the Amex Gold Bugs was up
2.8% at 108.15.
----------------------------------------------------
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http://www.usagold.com/amk/usagoldmarketupdate.html [11]
http://www.GoldReview.com/ [13]
http://www.capitalupdates.com/ [14]
http://www.DailyReckoning.com [15]
http://www.goldenbar.com/ [16]
http://www.silver-investor.com [17]
http://www.thebulliondesk.com/ [18]
http://www.sharelynx.com/ [19]
http://www.mininglife.com/ [20]
http://www.financialsense.com [21]
http://www.goldensextant.com [22]
http://www.goldismoney.info/index.html [23]
http://www.howestreet.com [24]
http://www.depression2.tv [25]
http://www.moneyfiles.org/ [26]
http://www.howestreet.com [24]
http://www.minersmanual.com/minernews.html [27]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [28]
http://www.goldcolony.com [29]
http://www.miningstocks.com [30]
http://www.mineralstox.com [31]
http://www.freemarketnews.com [32]
http://www.SilverSeek.com [34]
http://www.investmentrarities.com [35]
http://www.kereport.com [36]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [37]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [38]
(In English)
http://www.resourceinvestor.com [39]
http://www.prudentbear.com [41]
http://www.dollarcollapse.com [42]
http://www.kitcocasey.com [43]
http://000999.forumactif.com/ [44]
http://www.golddrivers.com/ [45]
http://www.goldpennystocks.com/ [46]
Subscription sites:
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http://www.goldinsider.com/ [48]
http://www.interventionalanalysis.com [50]
http://www.investmentindicators.com/ [51]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [52]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [53]
----------------------------------------------------
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1-888-218-9226, 931-766-6066
----------------------------------------------------
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