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Daily Dispatches
Blanchard note: Record central bank gold sales offset miners' dehedging
Submitted by cpowell on Tue, 2007-05-22 10:17 Section: Daily Dispatches10:15a ET Tuesday, May 22, 2007
Dear Friend of GATA and Gold:
Today's Blanchard Economic Research note reports that Western central bank gold sales are offsetting the recent dehedging being done by gold mining companies, and that these sales have just reached record levels.
Derivatives grow explosively, BIS reports
Submitted by cpowell on Tue, 2007-05-22 00:43 Section: Daily DispatchesCredit Default Swaps Spur Fastest Derivatives Growth
By Hamish Risk
Bloomberg News Service
Monday, May 21, 2007
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKyV5WdlrDwA
Kuwait unhooks dinar from dollar, signalling possible trend
Submitted by cpowell on Mon, 2007-05-21 20:03 Section: Daily DispatchesBy Wangfen Zhou
MarketWatch.com
Monday, May 21, 2007
http://www.marketwatch.com/news/story/kuwait-unhooks-dinar-dollar-signal...
Trickle of Chinese money could become investment flood
Submitted by cpowell on Mon, 2007-05-21 19:12 Section: Daily DispatchesBy Florian Gimbel
Financial Times, London
Monday, May 21, 2007
http://www.ft.com/cms/s/f5b3acd2-07d8-11dc-9541-000b5df10621.html
HONG KONG -- The decision by China to acquire a $3 billion stake in Blackstone, the US private equity firm, is the first trickle in what is expected to be a flood of overseas investments in the next few years.
MineWeb: Much dehedging in 1st Q, a lot more to come
Submitted by cpowell on Mon, 2007-05-21 17:27 Section: Daily DispatchesBy Rhona O'Connell
MineWeb
Monday, May 21, 2007
LONDON -- The latest quarterly hedge book survey from Societe Generale, compiled for the bank by GFMS Ltd., records that the global delta-adjusted gold mine hedge book contracted by 128 tonnes during the first quarter of this year.
John Dizard: Gold tells a sad story of future asset deflation
Submitted by cpowell on Mon, 2007-05-21 17:09 Section: Daily Dispatches5p ET Monday, May 21, 2007
Dear Friend of GATA and Gold:
John Dizard's column today in the Financial Times, which is appended, is distressingly ironic.
Gold Fields CEO says miners now realize hedging was stupid
Submitted by cpowell on Mon, 2007-05-21 07:26 Section: Daily DispatchesFrom Reuters
Monday, May 21, 2007
http://africa.reuters.com/business/news/usnBAN123005.html
SYDNEY, Australia -- A failure to find the next mother lode was helping prop up gold bullion prices, the head of South Africa's Gold Fields Ltd., the world's fourth-largest gold miner, said on Monday.
Australia's drought puts squeeze on mining
Submitted by cpowell on Sun, 2007-05-20 20:07 Section: Daily DispatchesBy Elisabeth Behrman
The Wall Street Journal
Monday, May 21, 2007
SYDNEY, Australia -- As demand for minerals surges and commodity prices approach record levels, the worst drought in Australia in 100 years is starting to affect mining and could crimp output in the country, a leading supplier of raw materials.
Miners grapple with rising tax demands
Submitted by cpowell on Sun, 2007-05-20 20:04 Section: Daily DispatchesFrom Reuters
Sunday, May 20, 2007
http://www.reuters.com/article/GlobalMiningandSteel07/idUSN2026288020070520
NEW YORK -- Bolivia's move to impose a 50 percent tax on all profit coming from the country's vast mineral wealth is the most damaging blow yet to miners looking to extract hefty returns around the world.
Join GATA at the Vancouver conference June 17 and 18
Submitted by cpowell on Sun, 2007-05-20 19:44 Section: Daily Dispatches7:45p ET Sunday, May 20, 2007
Dear Friend of GATA and Gold:
GATA will be participating again in the World Gold, Platinum Group Metals, and Diamond Investment Conference in Vancouver, to be held Sunday and Monday, June 17 and 18, at the Vancouver Convention and Exhibition Centre.
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