Daily Dispatches

By Ted Butler
August 3, 2004
www.InvestmentRarities.com

As expected, there was a major liquidation of tech
fund long gold positions, with massive dealer short
covering. According to the latest COTs, as of July
27 the gold cleanout appears complete, with the
path of least resistance now to the upside. How
significant the probable gold rally will be depends
on how aggressive the dealers short-sell on that

South Africa 'Recycles' Graves for AIDS Victims

By Michael Wines
The New York Times
Thursday, July 29, 2004

http://www.nytimes.com/2004/07/29/international/africa/29durb.html

DURBAN, South Africa, July 23 -- At S Cemetery in Umlazi
Township, Innocent Gasa's handiwork is everywhere: endless
mounds of fresh red earth topped with headstones, unpainted

1:52a ET Saturday, July 31, 2004

Dear Friend of GATA and Gold:

Not a lot of news this week so maybe the exchange
appended here will be of some interest.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Dear Chris:

In a recent GATA dispatch you wrote:

"The gold price is almost entirely a matter of how
much gold the central banks want to dishoard, how

6:34p ET Monday, July 26, 2004

Dear Friend of GATA and Gold:

A loyal friend of GATA wrote today that the gold
community seems to have given up. Discouraged
as many may be about the gold price, we should
recognize the cause and cheer up.

It's not that gold has topped out; far from it.
It's that the strains on the world financial
system and particularly on the U.S. dollar and
the general U.S. equities and bond markets are so