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Daily Dispatches
Surge in gold options above $1,000 hints at hedge fund interest
Submitted by cpowell on Fri, 2006-07-14 11:57 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, July 14, 2006
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/14/cngold...
A sudden surge in demand for gold options cashable at over $1,000 an ounce is the clearest sign to date that hedge funds and savvy traders are betting on a big rise in bullion prices.
UBS said investors had begun to show keen interest in "call" options to expire in December with strike prices of $1,000 an ounce and above.
Syria moves reserves to euros and will end dollar peg this year
Submitted by cpowell on Tue, 2006-07-11 14:59 Section: Daily DispatchesBy Dania Saadi
Bloomberg News Service
Tuesday, July 11, 2006
http://quote.bloomberg.com/apps/news?pid=20601087&sid=aRHSyiFxU6P0
CAIRO -- Syria, accused by the U.S. of supporting terrorism, plans to end its currency peg to the dollar by December to reflect closer trade ties with Europe, central bank Governor Adib Mayaleh said.
The Central Bank of Syria has already converted half its foreign-exchange reserves to euros, Mayaleh said in a telephone interview from Damascus, without being more specific. Syria's reserves, including gold, totaled $4.1 billion at the end of 2005, according to
He got everything right except the safe-deposit box
Submitted by cpowell on Mon, 2006-07-10 16:21 Section: Daily DispatchesMan Turns Granddad's Coins into Pure Gold
By Terry Savage
Chicago Sun-Times
Monday, July 10, 2006
http://www.suntimes.com/output/savage/cst-fin-terry109.html
Nick Dorado e-mailed me with a problem: Too much money!
To be more specific, he literally had pounds and pounds of coins, collected and saved by his grandfather. He stored them in a safe-deposit box for years, always wondering if he had some rare penny or other collector's item that would be worth far more than its face value.
Ted Butler: Silver shorts tell CFTC to drop dead
Submitted by cpowell on Mon, 2006-07-10 15:35 Section: Daily Dispatches3:23p ET Monday, July 10, 2006
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler's new commentary, "Shorts to CFTC: Drop Dead," explains how the concentrated short position in silver on the New York Commodities Exchange is even worse than it looks. You can find Butler's commentary at GoldSeek's companion site, SilverSeek, here:
GATA improves its Internet site and dispatch system
Submitted by cpowell on Sun, 2006-07-09 21:08 Section: Daily Dispatches8:45p ET Sunday, July 9, 2006
Dear Friend of GATA and Gold:
GATA is improving its Internet site -- GATA.org -- and transferring its e-mail dispatch system there from YahooGroups. This will give us more control over our work and will organize it better, putting our dispatch archive in the same place with everything else we have posted on the Internet. It also will hasten our dispatches to you.
Gold council acts again amid worldwide economic imbalances
Submitted by cpowell on Sun, 2006-07-09 12:13 Section: Daily DispatchesWorld Gold Council Selects the Lucky Winners
of Pan-Arab Gold Jewellery Design Contest
From AMEInfo, Dubai
Sunday, July 9, 2006
http://www.ameinfo.com/90941.html
The World Gold Council conducted a second judging
session of this year's Pan-Arab Gold Jewellery Design
contest where final winners were selected from the 30
finalists, reaffirming the rich and undeniable talent
of the Arab designers in the world.
GATA is cited in Dubai again, this time in silver market analysis
Submitted by cpowell on Sun, 2006-07-09 11:54 Section: Daily DispatchesIs Buying Silver As Good As Gold?
From AMEInfo, Dubai
Sunday, July 9, 2006
http://www.ameinfo.com/90934.html
Last week there were rumors that Dubai was trying to
corner the silver market like the legendary Hunt
Brothers in the 1970s. This latter episode culminated
in a $50-an-ounce blowoff in 1980 followed by a price
collapse that left these one-time multi-billionaires
bankrupt.
St. Louis paper's gold story quotes GATA backer Mike Kosares of Centennial
Submitted by cpowell on Sat, 2006-07-08 17:08 Section: Daily DispatchesThank God SOMEBODY talked back to Peter Bernstein!
* * *
Those Following Gold's Glitter
Are Wagering on Bad Times
By Eric Heisler
St. Louis Post-Dispatch
Saturday, July 8, 2006
Throughout history, investors have gobbled up gold for one primary reason: To bet on catastrophe.
Since it became legal for Americans to own in 1975, gold has served as a buffer against inflation and a protection from bank failure.
James Turk: A commodity bull market update
Submitted by cpowell on Sat, 2006-07-08 14:03 Section: Daily Dispatches1:09p ET Saturday, July 8, 2006
Dear Friend of GATA and Gold:
GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, has reviewed his chart of commodity prices and finds only evidence of strong inflation. Turk figures that commodity prices have another doubling ahead. His analysis, "A Commodity Bull Market Update," has been posted at Kitco here:
China believed to be acquiring gold slowly and secretly
Submitted by cpowell on Sat, 2006-07-08 14:01 Section: Daily DispatchesChinese Reserve Diversification Buzz Grows Louder
By Alan Wheatley and Kevin Yao
Reuters
Thursday, July 6, 2006
http://today.reuters.com/news/newsArticle.aspx?type=reutersEdge&storyID=...
BEIJING -- The opening of an office in Shanghai to help manage China's foreign exchange reserves could accelerate its long-awaited diversification into assets such as gold and overseas equities, economists said on Tuesday.
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