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Daily Dispatches
Is front-running for the new bullion fund pushing up gold''s price?
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches"Conspiracies rarely exist."
-- Dennis Gartman
in The Gartman Letter,
September 14, 2004
* * *
Zurich Financial Underwriters
Plead Guilty in Probe
By Philipp Goellner and Eric Moskowitz
Bloomberg News Service
Tuesday, November 16, 2004
http://quote.bloomberg.com/apps/news?
pid=10000006&sid=a3zNEEpnmHDc&refer=home
Rising interest rates may not bother gold much
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches9:54p ET Tuesday, November 16, 2004
Dear Friend of GATA and Gold:
Resource Investor's Tim Wood speculates that the
impending launch of the World Gold Council's
bullion fund in New York has prompted front-
running that is supporting the gold price, and he
quotes gold's perennial disparager, Mitsui's Andy
Smith, as predicting a collapse in the gold price
once the front-running is out of the way. Wood
Noranda stops negotiating exclusively with China''s Minmetals
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches10:57p ET Tuesday, November 16, 2004
Dear Friend of GATA and Gold:
This CBSMarketWatch story is interesting
for its comment that, as Jim Sinclair has
been saying, rising interest rates are no
threat to gold, since they always trail the
true inflation rate and make more trouble
for gold's competitors, paper investments.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GATA Chairman Bill Murphy''s speech to the 2004 New Orleans Investment Conference
Submitted by cpowell on Mon, 2004-11-15 03:00 Section: Daily Dispatches5:48p CT Sunday, November 14, 2004
Dear Friend of GATA and Gold:
GATA's fund-raising lunch at the conclusion of the
New Orleans Investment Conference today was a
success. At least we seem to have covered our costs
while meeting many old and new friends and spreading
the word of the manipulation of the gold market.
GATA is especially grateful to Brien Lundin of
Jefferson Direct Inc. and editor of Gold Newsletter
Euro finance ministers gripe about U.S. but do nothing on exchange rates
Submitted by cpowell on Mon, 2004-11-15 03:00 Section: Daily Dispatches8:50p ET Monday, November 15, 2004
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy's speech to the
2004 New Orleans Investment Conference,
delivered on November 11, has been posted
at the GATA Internet site here:
http://www.gata.org/NewOrleansConf.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Dow Jones Newswires interviews Michael Kosares of Centennial Precious Metals
Submitted by cpowell on Mon, 2004-11-15 03:00 Section: Daily DispatchesEuropean Finance Ministers Blame U.S.
for Troublesome Foreign Exchange Swings
By Swaha Pattanaik and Paul Carrel
Reuters
Monday, November 15, 2004
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=6820501
BRUSSELS -- Rattled by sharp currency swings that
have driven their currency to record highs against the
Russia sells dollars and dollar-denominated assets to diversify reserves
Submitted by cpowell on Sun, 2004-11-14 03:00 Section: Daily Dispatches11:33a CT Saturday, November 13, 2004
Dear Friend of GATA and Gold:
The CBSMarketWatch story about the new bullion fund
about to trade on the New York Stock Exchange
requires a little prefacing.
* The assertion that there isn't any easy way to buy
real metal without storing it yourself overlooks the
Internet gold depository and payment services like
that of GATA consultant James Turk, GoldMoney.com.
John Mauldin: Currencies are manipulated but the Fed will let the dollar fall
Submitted by cpowell on Sun, 2004-11-14 03:00 Section: Daily DispatchesFrom Itar-Tass News Agency
Monday, November 8, 2004
http://www.itar-tass.com/eng/level2.html?NewsID=1432579&PageNum=14
HONG KONG -- By selling U.S. dollars, securities, and
assets denominated in the U.S. currency, Russia is
diversifying its currency reserves, which is in line
with the policy pursued by the Central Bank of Russia,
Finance ministers getting frantic about currency markets
Submitted by cpowell on Sun, 2004-11-14 03:00 Section: Daily DispatchesBy John Mauldin
DailyReckoning.com
Wednesday, November 10, 2004
http://www.dailyreckoning.com/home.cfm?
loc=/body_index3.cfm&qs=id=10759
The Federal Reserve defines the trade-weighted dollar as
"a weighted average of the foreign exchange value of the
U.S. dollar measured against a subset of the broad index
currencies that circulate widely outside the country of
A report from the New Orleans Investment Conference
Submitted by cpowell on Sun, 2004-11-14 03:00 Section: Daily Dispatches5:12p CT Sunday, November 14, 2004
Dear Friend of GATA and Gold:
News reports over the weekend, two of which are appended
here, suggest great stress in the currency markets, the
likelihood of intervention, and possibly even competitive
devaluations. If it comes to that, there may not be much
for the currencies to devalue against except gold and oil.
Please forgive the length of these reports but they may
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