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Daily Dispatches
Resource Investor: Barclay's silver ETF shows stealthy demand for metal
Submitted by cpowell on Thu, 2006-08-31 16:40 Section: Daily Dispatches4:28p 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
Submitted by cpowell on Thu, 2006-08-31 01:10 Section: Daily Dispatches1a 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
Submitted by cpowell on Thu, 2006-08-31 00:40 Section: Daily DispatchesGoldcorp 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
Submitted by cpowell on Thu, 2006-08-31 00:17 Section: Daily DispatchesBy 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.
Yikes! GATA's message breaks through
Submitted by cpowell on Wed, 2006-08-30 11:16 Section: Daily Dispatches11a ET Wednesday, August 30, 2006
Dear Friend of GATA and Gold:
The years of work of one of GATA's Australian supporters and publicists, Sid Reynolds, paid off hugely today with his persuasion of FNArena.com's Greg Peel to examine at length some details of the international gold price suppression scheme. Peel did just that in a long essay at FNArena, and, startlingly, TheBullionDesk.com, never terribly interested in GATA's work, has made Peel's essay its lead story at this hour.
Resource Investor takes another look at Barrick's bid for NovaGold
Submitted by cpowell on Wed, 2006-08-30 01:48 Section: Daily Dispatches1:32a ET Wednesday, August 30, 2006
Dear Friend of GATA and Gold:
Resource Investor's Jon A. Nones has updated the situation with Barrick's attempt to acquire NovaGold, what with more lawsuits and a new valuation of the junior miner, which Resource Investor puts at as much as $73 per share. NovaGold closed Tuesday at $17.50. (Sweet dreams!)
You can find Nones' report here:
China reported ready to widen yuan's trading range
Submitted by cpowell on Wed, 2006-08-30 01:28 Section: Daily DispatchesFrom AFX News via Forbes
Tuesday, August 29, 2006
http://www.forbes.com/markets/feeds/afx/2006/08/29/afx2981348.html
SHANGHAI -- China's central bank may widen the daily trading band of the yuan against the dollar to increase the flexibity of its exchange rate, the China Securities Journal reported in a front-page story, citing analysts.
Currently, the People's Bank of China allows the currency to move 0.3 percent on either side of the central parity set before start of trading every day.
Peru negotiates end to siege at Yanacocha gold mine
Submitted by cpowell on Wed, 2006-08-30 01:15 Section: Daily DispatchesFarmers Reach Deal
Over Peru Gold Mine
By Carla Salazar
Associated Press
Wednesday, August 30, 2006
http://biz.yahoo.com/ap/060830/peru_gold_mine.html?.v=1
LIMA, Peru -- Latin America's largest gold mine and protesting farmers reached a government-brokered agreement late Tuesday to end a six-day roadblock that prompted a 24-hour shutdown of operations.
Peru's presidential Cabinet chief, Jorge Del Castillo, announced the deal to lift the roadblock Wednesday and immediately resume gold production at the Yanacocha gold mine, majority owned by Denver-based Newmont Mining Corp.
GoldSeek's Peter Spina: U.S. must sacrifice the dollar or the economy
Submitted by cpowell on Tue, 2006-08-29 20:34 Section: Daily DispatchesGold Tallies Two-Day Loss
of More Than $11
Price Climbs in Electronic Session
After Fed Minutes;
Metals Index Up Slightly
By Myra P. Saefong
CBSMarketWatch.com
Tuesday, August 29, 2006
http://www.marketwatch.com/News/Story/Story.aspx?column=Metals+Stocks&si...
SAN FRANCISCO -- Gold futures fell in tandem with oil Tuesday to tally a two-day loss of more than $11 an ounce, then moved higher in the electronic trading session as investors weighed the prospects for metals demand and mulled the minutes from the Aug. 8 Federal Reserve monetary policy meeting.
More 'experts' are mystified
Submitted by cpowell on Mon, 2006-08-28 20:33 Section: Daily DispatchesThey must never have heard of the gold price suppression scheme, nor even of derivatives in the bond and oil markets.
* * *
What Crisis? Oil, Gold, Stocks
Show Investors Ignore World Risk
By Michael R. Sesit
Bloomberg News Service
Monday, August 28, 2006
http://www.bloomberg.com/apps/news?pid=20601100&sid=agYt1SK7yvdY
PARIS -- What you know can help you -- unless you ignore it, which appears to be how investors are treating growing risks of war, terrorism, and political unrest.
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