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James Turk: Gold isn't really up; the dollar is depreciating
8:40a ET Tuesday, January 2, 2007
Dear Friend of GATA and Gold:
Gold's price isn't going up. Rather, the U.S. dollar is declining in value.
That's the point made by GoldMoney founder James Turk in his first commentary of the new year. Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes that while gold's dollar price has averaged an appreciation of more than 15 percent over the last six years, gold's price in terms of oil is almost unchanged. Gold's "rate of return," Turk notes, is really the rate of depreciation of the dollar.
Turk's analysis is titled "Six Consecutive Years" and you can find it in the "Founder's Commentary" box at the top left of the GoldMoney home page here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Join GATA
at the
2007 Vancouver Resource Investment Conference
Vancouver Convention and Exhibition Centre
Sunday and Monday, January 21 and 22, 2007
http://www.cambridgeconferences.com/ch_jan2007.html
Admission is free for those who register in advance. The conference has arranged discount rates at the Pan Pacific Hotel adjacent to the convention center.
GATA will hold a reception at the conclusion of the conference: from 6 to 8 p.m. Monday, January 22, in the Cypress Suite at the Pan Pacific, 999 Canada Place. The Cypress Suite is on the hotel's restaurant level, one floor above the lobby. The reception will offer snacks, a cash bar, and some brief remarks by GATA's delegates to the conference, including Chairman Bill Murphy. There will be no admission charge for the reception but so that we might prepare better, if you plan to attend please let Secretary/Treasurer Chris Powell know by e-mail at CPowell@GATA.org.
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