Traders are getting wise to bank intervention against gold, Hugo writes

Section:

8:56p ET Monday, October 6, 2003

Dear Friend of GATA and Gold:

Here's a great read about a small conference on silver
mining recently held in Idaho. It's a reminder that all
real productivity and wealth involve the extractive
industries, the use of the physical substances of the
planet to make real things.

http://www.321gold.com/editorials/bond/bond093003.html

Here's some coverage of last week's conference in
London of the Association of Mining Analysts, which
was addressed by GATA consultant Robert K. Landis,
whose remarks we may be able to share with you if
ever comes back from that pub in Mayfair and if he
remembered to write them down:

http://www.mips1.net/MGLdn.nsf/Current/8525690B0032142042256DB6003E4E2
B?OpenDocument

Or try this abbreviated link:

http://ls.shapebyforce.com/sbf/276

Jim Sinclair seems to have spent all day writing and
has posted several timely commentaries here:

http://www.jsmineset.com/home.asp

And last but not least -- indeed, perhaps most
important -- remember what GATA consultant James
Turk, founder of GoldMoney and editor of The
Freemarket Gold and Money Report, wrote last night
in his essay explaining how the Comex gold market is
manipulated:

"So that's how they do it. Further proof will emerge
Monday when Comex reports Friday's drop in open
interest. It may not be 20,000 contracts, but I would be
surprised if it is less than 12,000. But if the drop turns
out to be less than 8,000 contracts, given Friday's
estimated volume of 165,000 contracts (of which 125,000
apparently occurred after 12:10 p.m., when the government
started intervening), then the shorts are in real trouble."

Well, GATA Chairman Bill Murphy reports tonight in his
"Midas" commentary at LeMetropoleCafe.com that Friday's
decline in open interest on the Comex was far less
than the best-case scenario Turk imagined: a decline
of only 4,887 contracts. That is, Friday's action on
the Comex seems to have been much storm and fury but,
in the end, very little shaking out of people counting
on gold, very little reduction of demand for gold. If
you're not a member of the Cafe, you can take a free
two-week trial subscription and read tonight's "Midas"
commentary here:

http://www.LeMetropoleCafe.com

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

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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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