Growth in demand will prevent crash in mineral prices, World Bank says


By David Uren
The Australian, Sydney
Sunday, November 20, 2006,20867,20786046-643,00.html

Surpluses in mineral supply will emerge in 2008, but continued growth in demand and rising mining costs will stop prices from dropping back to their level of the 1990s, according to the World Bank.

The bank says long-term demand growth will remain strong, while the industry faces challenges in raising its supply.

GATA's reception in New Orleans draws conference notables


2:11a CT Sunday, November 19, 2006

Dear Friend of GATA and Gold:

GATA's reception Saturday evening during the New Orleans Investment Conference drew more than 130 people, including conference notables Mark Faber, Frank Veneroso, Bob Bishop, Brien Lundin, John Embry, Peter Grandich, Ian McAvity, David Tice, and James Turk.

The reception was held at Latrobe's on Royal, the former Louisiana State Bank building on Royal Street in the French Quarter (or, en francais, le Vieux Carre). Latrobe's has some fascinating architecture and it was gloriously made up.

New York museum shows glory of gold, if not central banking


7:25p CT Friday, November 17, 2006

Dear Friend of GATA and Gold:

Here's a story about the opening of a fascinating exhibit about gold at the American Museum of Natural History in New York, but it contains a terrible error. It reports that all the gold ever mined totals "330 million tons." The World Gold Council estimates that the total gold mined as of 2001 was only "145,000 tonnes," and yearly gold production since then has been less than 3,000 tonnes.

Gartman flees argument with Veneroso on gold price suppression


7p CT Friday, November 17, 2006

Dear Friend of GATA and Gold:

From GATA's point of view, the most interesting part of the 2006 New Orleans Investment Conference so far was today's exchange between GATA consultant Frank Veneroso of Veneroso Associates and Dennis Gartman, editor of the Gartman Letter. They had been invited to discuss, among other things, whether the gold market is manipulated.

New Congress seen likely to favor dollar devaluation


By Jephraim P Gundzik
Asia Times, Hong Kong
Saturday, November 18, 2006

Last week's sweeping victories for Democrats in the US mid-term elections could prompt significant economic policy changes in the United States over the next 24 months.

Boosting US exports will top the Democrats' economic agenda. In addition to stepped-up efforts aimed at prying export markets open, the 110th Congress may pressure the increasingly pliant administration of President George W Bush to reverse course on exchange-rate policy and encourage the depreciation of the dollar. Intensifying trade disputes, the sliding value of the dollar and  weakening US demand could produce a sharp slowdown in Asia's export and economic growth next year.

Dollar will remain primary reserve currency, Fed official tells bankers


Fed's Fisher Says Dollar
Likely to Stay Main Currency

By Christopher Anstey
Bloomberg News Service
Friday, November 17, 2006

WASHINGTON -- Federal Reserve Bank of Dallas President Richard Fisher said the dollar is likely to remain the world's top currency in central bank reserves because of U.S. growth rates and success in containing inflation.

GATA chairman reaches national radio audience in Canada on Saturday


Blender Media Press Release
via CNNMatthews
Friday, November 17, 2006

VANCOUVER, British Columbia -- "Market Matters," a nationally syndicated radio program on the Corus Radio Network, is featuring Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA). Murphy will be discussing collusion against a free market in gold, precious metals, currencies, and related securities.

Choking on hedge book, Newcrest stalls payment by 2 years


Newcrest Defers Gold Hedges
to Gain Exposure to Spot Price

From Reuters
Friday, November 17, 2006

SYDNEY -- Australia's Newcrest Mining Ltd. said on Friday it had restructured its hedge book by deferring 1.6 million ounces of gold in order to get better exposure to market bullion prices. The company said the purpose of the restructure was to achieve a better balance of exposure to spot gold prices and to reduce the percentage of production hedged for any one year.

Resource Investor: Court finds Barrick doesn't own Chilean mine property


By Jon A. Nones
Thursday, November 16, 2006

According to a Chilean news source, El Diario de Atacama, Rodolfo Villar, a local gold prospector and geologist, has won a court ruling establishing ownership to the properties in the 8,600 hectares of land surrounding and including Barrick's Pascua Lama. Barrick is challenging the ruling in the Chilean Court of Appeal.

Vince Borg, senior vice president of corporate communications for Barrick, confirmed this with Resource Investor but said the Villar case is a "nuisance suit."

John Crudele: How you may have kinda saved $392.10


By John Crudele
New York Post
Thursday, November 16, 2006

You will be happy to know that your household costs actually went down in October because of that light truck you didn't buy.

I don't mean to mess with your head this early in the day. But the declining costs of light trucks was a major reason the government earlier this week was able to announce a surprise 1.6 percent drop in producer prices for October.