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Daily Dispatches
Concentration in derivatives business is nothing to fear, Morgan executive says
Submitted by cpowell on Wed, 2004-03-31 03:00 Section: Daily DispatchesBy Christina Fincher
Reuters
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=4711805
LONDON, March 31 -- The yen smashed through a key
psychological barrier to hit a four-year high against the
dollar on Wednesday as investors sensed Japan was
scaling back yen-selling intervention going into the new
Sprott''s Canada stock fund favors gold bars, cash
Submitted by cpowell on Wed, 2004-03-31 03:00 Section: Daily DispatchesJ.P. Morgan Exec Dismisses Derivatives Worries
By Tara Murphy
Forbes.com
Wednesday, March 31, 2004
http://www.forbes.com/markets/2004/03/31/cx_tm_0331video2.html?
partner=yahoo&referrer=
NEW YORK -- J.P. Morgan Chase investment banking Chairman
Daid Coulter is dismissing concern about concentration in
the derivatives markets.
Smaller gold miners get acquisition itch; Seabridge gets AMEX listing
Submitted by cpowell on Wed, 2004-03-31 03:00 Section: Daily DispatchesBy Matt Mossman
Bloomberg News Service
Wednesday, March 31, 2004
http://quote.bloomberg.com/apps/news?
pid=10000103&sid=a_gthC3UTolQ&refer=us
TORONTO -- Eric Sprott has transformed his Canadian Equity
Fund, the best performer in Canada for the last five years,
into what might be described as the Canadian Equity, Gold,
and Cash Fund.
Marc Faber turns deflationist: Brace for a bust as bubbles look set to burst
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches9:52p ET Monday, March 29, 2004
Dear Friend of GATA and Gold:
Richard Russell's new commentary sees a big flow
of funds out of general equities around the world. He
writes in commentary just posted at Gold-Eagle:
"The stock market is in the process of building a top
to this counter-trend rally. The top has got to 'look
good.' Why? Because the better the top looks, the
longer the big money has to move out of stocks and
A second start for World Gold Council''s bullion fund
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBrace for a bust as bubbles look set to burst
By Marc Faber
Financial Times
Monday, March 29, 2004
http://search.ft.com/search/article.html?
id=040329001260&query=Marc+Faber&vsc_appId=totalSearch&state=Form
Credit has to be given to Alan Greenspan, the Federal
Reserve chairman.
He is the first head of a monetary authority who has not
Newmont-Barrick deal isn''t so farfetched, for they''ve dealt before
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches8:48a ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
The World Gold Council's bullion fund in London has
reconfigured itself a little and is attempting today a
second debut, one with more investment funds
eligible to own it. MineWeb reports about it here:
http://trinity.mips1.net/MGGold.nsf/Current/42256E2B005E0A2E42256E6500
Wheaton River to merge with IAMGOLD, breaking into top 10 gold miners
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBy Mathew Ingram
Globe and Mail, Toronto
Monday, March 29, 2004
http://www.theglobeandmail.com/servlet/story/RTGAM.20040329.wmath0329
/BNStory/Business
According to a report in Britain's Sunday Telegraph newspaper,
Denver-based gold producer Newmont Mining is planning a
takeover bid for Toronto-based Barrick Gold -- in part because
Excellent MineWeb report on Wheaton River''s merger with IAMGOLD
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches9:30p ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
Wheaton River Minerals and IAMGOLD announced their
merger tonight in a plan that was said to vault the
new company to the ranks of the top 10 gold producers.
The merger would be accomplished by exchanging
each Wheaton River share for just more than half a
share of IAMGOLD, which is said to be a 22 percent
premium over the average price of Wheaton shares
Ted Butler: Shorts gone wild in gold and silver
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches9:51p ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
MineWeb's Tim Wood has an excellent and detailed report
on the Wheaton River/IAMGOLD merger that obviously was
researched and written well before the official announcement
tonight. You can find it here:
http://trinity.mips1.net/MGGold.nsf/UNID/TWOD-5XL2NX?OpenDocument
Clarifying the column headlines in the chart in Ted Butler''s commentary
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBy Theodore Butler
The latest Commitments of Traders Report (COT) was a
shocker for gold, as the tech funds plowed onto the long
side and dealers went short in massive numbers.
Adjusting for the trading since the Tuesday cutoff, the
commercial net short position in COMEX gold is at the
highest level ever. This raises the strong possibility of a
selloff, where the funds sell out their long positions and
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