Blanchard & Co. statement about victory over Barrick Gold and Morgan Chase

Section:

Can anyone besides GATA Chairman Bill Murphy's
"Midas" commentaries at LeMetropole Cafe say ...
"commercial signal failure"?

* * *

By Dominic Hall
The Bullion Desk
Tuesday, September 9, 2003
http://www.thebulliondesk.com/Generators/ReportItem.asp?Code=dh001

As gold toys with the $380 level at mid-morning in London,
a broad consensus appears to be forming among market
professionals for a move well beyond recent trading highs.

At 11:40 BST spot gold was quoted at $379.80/380.40 a
troy ounce, while the euro was quoted at $1.1126/29.

A source of constant nagging concern among gold market
pundits, the record speculative long position in New York
gold futures appears to have been grudgingly accepted
as sustainable in the short to medium term by many
observers overnight. Fresh money has continued to flow
into the precious metal as investors sought to diversify
their portfolios, forcing a rethink of the markets' long-held
reference points for judging the scale of the speculative
position.

UBS Warburg in a report this morning added: "An
all-time-high in spec longs does not necessarily point
to an immediate sell-off in gold."

Meanwhile, gold gained additional support from a strong
euro as forex market participants were careful about going
overly long on the dollar amid nervousness ahead of the
September 11 anniversary.

Regional reports also pointed to continued healthy demand:
"We're seeing buying from the Japanese, but also locally,"
said a Hong Kong-based trader who believes gold will break
overhead resistance at $379 that has thus far held firm.
"With all the safe haven interest lately, I'm targeting $380,
maybe $385, by the end of the week," the trader said
prophetically.

Similarly, ABN AMRO said in a client note that; "We will
probably see more support ahead of Sept. 11 this week,
and a break of $379 will see gold heading toward $390
reasonably smartly."

How long this mood of optimism will last all depends on
the continuing influx of new money. In an interview with
Mineweb, John Hathaway, manager of the $500 million
Tocqueville Gold Fund said of the current rally, It's very
early days yet." He drew particular attention to the new
class of gold securities, such as Gold Bullion Limited,
which trades on the Australian Stock Exchange, and the
eagerly awaited U.K. and U.S. versions: "They're going
to draw money, physical money, into the gold market in
a way that nobody can imagine,"

In a report this morning, Standard Bank cited support
levels of $375, $371 and $369, with key overhead
resistance at $381.00.

----------------------------------------------------

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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS

Free sites:

http://www.jsmineset.com

http://www.cbs.marketwatch.com

http://www.mineweb.com/

http://www.gold-eagle.com/

http://www.kitco.com/

http://www.usagold.com/

http://www.GoldSeek.com/

http://www.capitalupdates.com/

http://www.goldenbar.com/

http://www.silver-investor.com

http://www.thebulliondesk.com/

http://www.sharelynx.net

http://www.mininglife.com/

http://www.financialsense.com

http://www.goldensextant.com

http://www.goldismoney.info/index.html

http://www.howestreet.com

http://www.depression2.tv

http://www.moneyfiles.org/

http://www.howestreet.com

http://www.minersmanual.com/minernews.html

http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html

http://www.goldcolony.com

http://www.mineralstox.com

Subscription site:

http://www.lemetropolecafe.com/

http://www.hsletter.com

Eagle Ranch discussion site:

http://os2eagle.net/checksum.htm

----------------------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net

Investment Rarities Inc.
7850 Metro Parkwa
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com

Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com

Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.buycoin.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@buycoin.com

----------------------------------------------------

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