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EXCERPTS FROM 'MIDAS' COMMENTARY
FOR FRIDAY, JANUARY 3, 2003

Huge Physical Market Buying From
Middle East Propels Gold to New Highs

By BILL MURPHY

Gold $350.90, up $5.10
Silver $4.87, up 8 cents

GATA love it out there in Cafe land. All what

10:21a ET Saturday, January 4, 2003

Dear Friend of GATA and Gold:

If the London Times remains the mouthpiece
of the British establishment, it may not be
hard to see the column appended here as a
clue about the objective of official
Anglo-American economic policy: a controlled
devaluation of the dollar.

CAN the central banks control the devaluation
that is under way when the world figures out

12:56a ET Friday, January 3, 2003

Dear Friend of GATA and Gold:

The story from CBSMarketWatch about J.P. Morgan
Chase that is appended here is especially interesting
for its last three paragraphs, wherein the company
denies any liability in regard to gold -- quot;any real
exposure,quot; to quote the company's chairman exactly.
The chairman insists that he doesn't know where the
Morgan/gold quot;rumorquot; comes from, and the company's

7:34p ET Friday, January 3, 2003

Dear Friend of GATA and Gold:

As you can see from the Reuters story appended
here, Morgan Chase stomped around a little more
today supposedly in pursuit of that nasty quot;rumorquot;
that the bank has some connection to the gold
business. Morgan continues to ask the U.S.
Securities and Exchange Commission to investigate
the quot;rumor,quot; as if its origin was something other