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Daily Dispatches
Short squeeze in gold is near, Grandich says
Submitted by cpowell on Wed, 2006-07-26 15:43 Section: Daily DispatchesGold Futures Rise as Dollar Drops, Mideast Talks Snag
By Polya Lesova
CBSMarketWatch.com
Wednesday, July 26, 2006
http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=...
NEW YORK -- Gold futures surged Wednesday as the dollar dropped against major currencies and as international talks on the Mideast conflict dead-ended with the U.S. rejecting calls for an immediate cease-fire.
Investment demand will break central bank gold cartel
Submitted by cpowell on Wed, 2006-07-26 08:28 Section: Daily DispatchesA Summer Tip for Arabian Investors: Gold shares
From AME Info, Dubai
Wednesday, July 26, 2006
http://www.ameinfo.com/92398.html
Barrick Gold has paid $1.3 billion to buy the much smaller gold mining company Nova Gold which was one of the six stocks tipped for 2006 by James Saks in this column last December. Investors in NovaGold have clearly made a quick buck, but what does it say about the outlook for gold mining stocks?
Ted Butler: Locked and loaded
Submitted by cpowell on Tue, 2006-07-25 18:53 Section: Daily DispatchesDear Friend of GATA and Gold:
Silver market analyst Ted Butler's new commentary
examines the ever-more-concentrated and manipulative short position in silver and warns potential investors in the New York Mercantile Exchange of the fraud under way there. Butler's commentary, "Locked and Loaded," can be found at GoldSeek's companion site, SilverSeek, here:
4 brokers, including Goldman Sachs, fined for breaking short-sales rule
Submitted by cpowell on Mon, 2006-07-24 13:02 Section: Daily DispatchesFrom Reuters
Monday, July 24, 2006
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
NEW YORK -- NYSE Group Inc. said on Monday it fined four firms a total of $1.25 million, saying they violated a U.S. Securities and Exchange Commission rule on short selling.
It censured and fined Daiwa Securities America Inc., a subsidiary of Japan-based brokerage Daiwa Securities Group Inc., Goldman Sachs Execution & Clearing, part of Goldman Sachs Group Inc., Citigroup Global Markets, Inc., a subsidiary of Citigroup Inc., and Credit Suisse Securities, part of Credit Suisse Group.
Israel Friedman: Physical silver, yes; speculation, no
Submitted by cpowell on Wed, 2006-07-19 17:30 Section: Daily Dispatches5:24p ET Wednesday, July 19, 2006
Dear Friend of GATA and Gold:
Israel Friedman, mentor to silver market analyst Ted Butler, has taken over the commentary of his student this week with "Physical Silver, Yes; Speculation, No," posted at GoldSeek's companion site, SilverSeek, here:
http://news.silverseek.com/TedButler/1153245360.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Acti
Top bond manager expects Fed to cut interest rates by January
Submitted by cpowell on Mon, 2006-07-17 01:19 Section: Daily DispatchesFrom Reuters
Thursday, July 13, 2006
http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&st...
NEW YORK -- Yields on the benchmark U.S. Treasury Note should fall 1 percentage point from current levels as economic growth softens and the Fed is finally forced to reverse its campaign of lifting borrowing costs, bond fund manager Bill Gross said on Thursday.
Coalition urges dollar devaluation to regain jobs in U.S.
Submitted by cpowell on Mon, 2006-07-17 01:08 Section: Daily DispatchesCoalition Urges Government
to Lower Dollar Value
By Kylene Kiang
Cox News Service
via The Western Star, Lebanon, Ohio
Thursday, July 13, 2006
http://www.western-star.com/school/content/shared/news/stories/TRADE_DEF...
WASHINGTON -- Academic, business, and labor groups called on the Bush administration Wednesday to lower the value of the dollar in order to alleviate the country's ballooning trade deficit and its adverse effects on American industry.
U.S. may be going bankrupt, Federal Reserve consultant warns
Submitted by cpowell on Sat, 2006-07-15 16:56 Section: Daily DispatchesBy Edmund Conway
The Telegraph, London
Friday, July 14, 2006
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/14/cnusa1...
The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.
A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St. Louis, a leading constituent of the U.S. Federal Reserve.
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
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