You are here

Daily Dispatches

James Turk: Mixed signals

Section: Daily Dispatches

11a ET Monday, September 4, 2006

Dear Friend of GATA and Gold:

GATA consultant James Turk, editor of the Freemarket Gold & Money Report and founder of GoldMoney, turns technical analyst again and finds that silver is leading gold and possibly signaling that the correction and consolidation in their prices are ending. Meanwhile, Turk writes, the weaknesses of the U.S. dollar are continuing. You can find Turk's analysis, "Mixed Signals," in the "Founder's Commentary" box at the top left of the GoldMoney hmoe page here:

Join GATA at the Toronto Resource Investment Conference Sept. 24-25

Section: Daily Dispatches

10:23p ET Sunday, September 3, 2006

Dear Friend of GATA and Gold:

The Gold Anti-Trust Action Committee will be participating in the 2006 Toronto Resource Investment Conference at the Metro Toronto Convention Centre on Sunday and Monday, September 24 and 25, and you're invited.

GATA Chairman Bill Murphy will address the conference, as will many experts supportive of or sympathetic to GATA, including Peter Grandich of the Grandich Letter, Frank Holmes of U.S. Global Investors, John Lee of Mau Capital Management, Jay Taylor of J. Taylor's Gold and Technology Stocks and J. Taylor's Energy and Tech Stocks newsletters, and Frank Veneroso of Veneroso Associates.

Gold call options may sniff competitive devaluations ahead

Section: Daily Dispatches

Even the Sophisticated
Are Attracted
by the Lure of Autumn Gold

By Ambrose Evans-Pritchard 
The Telegraph, London
Monday, September 4, 2006

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/04/ccview...

Gold almost always rises in the autumn, sometimes a little, lately by leaps and bounds.

Even when it churned ever-down from a peak of $850 an ounce in 1980 to $255 in March 2001, it usually managed to eke out a meagre counter-rally each September.

That's some medium of exchange that can't be exchanged

Section: Daily Dispatches

Chinese Official Opposes
Sale of Dollar Holdings

From Reuters
Saturday, September 2, 2006

http://asia.news.yahoo.com/060902/3/2pc2y.html

CERNOBBIO, Italy -- China would only damage itself if it sold dollars from its $941 billion stockpile of foreign currency reserves, a senior official said on Saturday.

The official, Cheng Siwei, vice chairman of the national parliament, said selling dollar-denominated assets would hurt China by weakening the dollar and the country should diversify its bond purchases.

Globe and Mail: Now every miner is in play

Section: Daily Dispatches

By Andy Hoffman
The Globe and Mail, Toronto
Thursday, August 31, 2006

http://www.theglobeandmail.com/servlet/story/RTGAM.20060831.wgoldmergers...

Suddenly Clive Johnson is very popular. Five years ago, when the price of gold was below $300 (U.S.) an ounce, his phone didn't ring for months.

Thursday, it wouldn't stop.

The head of Bema Gold Corp. was inundated with calls from investment bankers pitching deals.

Reuters: More gold company mergers seen in wake of Glamis takeover

Section: Daily Dispatches

From Reuters
Thursday, August 31, 2006

http://asia.news.yahoo.com/060831/3/2p9rf.html

NEW YORK -- Goldcorp Inc.'s move to acquire Glamis Gold Ltd. for $8.6 billion is just the latest in an expected flurry of takeovers in the gold mining business, analysts said on Thursday. The deal comes nearly four months after Goldcorp agreed to buy some Placer Dome assets from Barrick Gold Corp. and after Glamis closed its takeover of Western Silver Corp.

Resource Investor: Barclay's silver ETF shows stealthy demand for metal

Section: Daily Dispatches

4:28p ET Thursday, August 31, 2006

Dear Friend of GATA and Gold:

Resource Investor's Gene Arensberg reports that Barclay's silver exchange-traded fund has added silver steadily over the last month and now claims more than 100 million ounces, suggesting a stealthy demand for the metal. You can find the report here:

http://www.resourceinvestor.com/pebble.asp?relid=23299

CHRIS POWELL, Secretary/Treasurer

Missing gold and missing socks

Section: Daily Dispatches

1a ET Thursday, August 31, 2006

Dear Friend of GATA and Gold:

GATA's friend Ralph Johnston has objected to our nomination Wednesday of gold price suppression case litigator Reg Howe as the new commandant of Fort Knox, Kentucky, site of the U.S. gold bullion depository. "Howe would be disappointed," Johnston writes, since "there's more gold in my sock drawer than in Fort Knox."

This is a fair point of inquiry, and the question is not just whether any gold is left at Fort Knox after decades of Western central bank intervention in the gold market but also, perhaps more importantly, exactly who has title to whatever gold is still there.

Goldcorp pays 33% premium for Glamis and will own 60% of new company

Section: Daily Dispatches

Goldcorp and Glamis Agree to US$21.3 Billion Combination
Creating the World's Premier Gold Mining Company

Joint Company Press Release
via Market Wire
Thursday, August 31, 2006

http://biz.yahoo.com/iw/060831/0158924.html

TORONTO -- Goldcorp Inc. and Glamis Gold Ltd. announced today that they have agreed to combine in a US$21.3 billion transaction to create one of the world's largest gold mining companies. The new company will continue under the name Goldcorp Inc.

Goldcorp to acquire Glamis in friendly deal

Section: Daily Dispatches

By Wendy Stueck
The Globe and Mail, Toronto
Thursday, August 31, 2006

http://www.theglobeandmail.com/servlet/story/RTGAM.20060830.wgold0830/BN...

VANCOUVER -- Bucking the trend of corporate Canada becoming a shopping mall for foreign investors, Vancouver-based Goldcorp Inc. will announce Thursday a friendly takeover of Glamis Gold Ltd. that will create the world's No. 3 gold producer.

Pages