James Turk: More on gold backwardation

Section:

4:27p ET Friday, December 12, 2008

Dear Friend of GATA and Gold:

GoldMoney founder, Freemarket Gold & Money Report editor, and GATA consultant James Turk tries to make sense of the gold backwardation issue in commentary posted today at Kitco. Turk writes that a shortage of London Bullion Market Association-approved gold bars seems to be developing, following the shortage in gold and silver coins and small bars, and whether or not full backwardation develops, people will do well to have metal in hand without counterparty risk. Turk's analysis is headlined "More on Gold Backwardation" and you can find it at Kitco here:

http://www.kitco.com/ind/Turk/turk_dec122008.html

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

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