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Daily Dispatches
World Gold Council''s bullion fund doesn''t have the gold it claims to have
Submitted by cpowell on Sun, 2004-12-05 03:00 Section: Daily DispatchesWhat's Buffing Up Gold?
Is $1,000 a Real Target?
Analyst, Fund Manager
Give the Goods on Gold
By Worth Civils
The Wall Street Journal Online
Thursday, December 2, 2004
Gold prices have surged 50 percent since early 2002
to more than $450 an ounce, and some market
watchers are brazenly slapping a $1,000 price target
on the metal for the near future.
That crystal-ball forecast seems heady. But John
Bill Fleckenstein: Prevailing opinion expects dollar to rise and gold to fall
Submitted by cpowell on Sun, 2004-12-05 03:00 Section: Daily Dispatches4:13p ET Sunday, December 5, 2004
Dear Friend of GATA and Gold:
GATA consultant James Turk, editor of the
Freemarket Gold & Money Report and founder
of GoldMoney, discloses in today's edition
of FGMR that, as many have suspected, the
World Gold Council's new exchange-traded
bullion fund does not have the gold it
claims to have.
More than 2 percent of the fund's gold,
Turk reveals, consists of gold bars with
Japan threatens huge dollar selloff
Submitted by cpowell on Sun, 2004-12-05 03:00 Section: Daily Dispatches5:15p ET Sunday, December 5, 2004
Dear Friend of GATA and Gold:
Bill Fleckenstein's latest commentary, appended here,
may be most interesting for observing that the
prevailing opinion now expects the dollar to rise and
gold to fall.
Fleckenstein says:
"Curiously, it seems to me that the No. 1 battle cry is
not 'I'm bearish on the dollar' (though lots of people
are bearish) but 'There are too many dollar bears,
Goldcorp plans friendly acquisition of Wheaton River in 4-for-1 share exchange
Submitted by cpowell on Sun, 2004-12-05 03:00 Section: Daily DispatchesBy Heather Stewart
The Observer, London
Sunday, December 5, 2004
http://observer.guardian.co.uk/business/story/0,6903,1366578,00.html
TOKYO -- Japan is warning the White House that
there will be "enormous capital flight" from the dollar
if the Bush administration maintains its laissez-faire
approach to the mounting currency crisis. Tokyo fears
N.Y. Times: Dollar''s fall tests nerve of Asia''s central bankers
Submitted by cpowell on Sat, 2004-12-04 03:00 Section: Daily Dispatches8:25p ET Friday, December 3, 2004
Dear Friend of GATA and Gold:
The Reuters story about today's decline in the
U.S. dollar, just dispatched to you, mentioned
a report in a German newspaper quoting an
unidentified U.S. Treasury official as saying
that the U.S. government would not intervene
in the currency markets to support the dollar
until it fell to $1.45 to the euro.
That newspaper was Boersen-Zeitung, a financial
Taiwan Central Bank Denies Report of Plan to Cut Dollar Assets
Submitted by cpowell on Sat, 2004-12-04 03:00 Section: Daily DispatchesDollar's Fall Tests Nerve of Asia's Central Bankers
By James Brook and Keith Bradsher
The New York Times
Saturday, December 4, 2004
http://www.nytimes.com/2004/12/04/business/worldbusiness/04banker.html
TOKYO, Dec. 3 -- As Americans embark on another
season of debt-supported holiday spending, they
might want to give thanks that Masatsugu Asakawa
''Buttonwood'' column in The Economist acknowledges rigging of the gold market
Submitted by cpowell on Fri, 2004-12-03 03:00 Section: Daily Dispatches6:21p ET Thursday, December 2, 2004
Dear Friend of GATA and Gold:
To help recover from today's pounding of the
precious metals, you might want to start with
Jim Sinclair's evening commentary, "Gold
Market Summary." Just remember that, while his
Internet site is free, you have to register for
access. You can find Sinclair here:
European Central Bank chief brandishes intervention ''weapon'' at speculators
Submitted by cpowell on Fri, 2004-12-03 03:00 Section: Daily Dispatches8:47a ET Friday, December 3, 2004
Dear Friend of GATA and Gold:
The "Buttonwood" column from the November 30 issue
of The Economist, appended here, is wonderful for its
calling things by their right names -- the market for
gold is the "most rigged" of the precious metals
markets, and the central banks' coordination of their
gold sales policies constitutes a "cartel." (GATA
Europe is worried about the dollar but isn''t ready to intervene
Submitted by cpowell on Fri, 2004-12-03 03:00 Section: Daily DispatchesTrichet Warning Brings Relief for Dollar
By Ambrose Evans-Pritchard
The Telegraph, London
Friday, December 3, 2004
BRUSSELS -- The US dollar rallied sharply yesterday
after the European Central Bank warned currency
speculators not to push their luck.
Jean-Claude Trichet, the ECB's president, said market
intervention was "a weapon" at the disposal of every
The whir and roar of the booming gold business in India
Submitted by cpowell on Fri, 2004-12-03 03:00 Section: Daily DispatchesBy Stella Dawson
Reuters
Friday, December 3, 2004
http://www.reuters.com/newsArticle.jhtml?
type=reutersEdge&storyID=6991223
FRANKFURT -- European leaders are worried about
the tumbling dollar but have not agreed to fire their
cannon of foreign exchange intervention yet, senior
officials of European governments said on Friday.
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