Commodities undervalued by 30%, Morgan resources fund manager says

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By Jennifer Hill
Reuters
Monday, September 25, 2006

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=managerMo...

LONDON -- The oil price might have fallen almost 25 percent from its peak, but the commodities sector as a whole is undervalued by around 30 percent -- giving further opportunity for growth -- according to one fund manager.

Goldcorp CEO claims most institutional shareholders back bid for Glamis

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By Rachelle Younglai
Reuters
Monday, September 25, 2006

http://news.yahoo.com/s/nm/20060926/wl_canada_nm/canada_minerals_confere...

DENVER -- Goldcorp Inc.'s chief executive said on Monday that the majority of the company's institutional shareholders are in favor of its plan to take over Glamis Gold Ltd. in an all-stock deal.

"We have certainly talked to the majority of our institutional shareholders," Ian Telfer told Reuters on the sidelines of the Denver Gold Forum, an industry conference.

Buzz is about silver at Denver Gold Forum

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Silver Bulls Seize Day at Major Gold Industry Parley

By Steve James and Rachelle Younglai
Reuters
Monday, September 25, 2006

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...

DENVER -- At North America's major annual gold industry conference, the talk on Monday was about silver -- and how the price of bullion's less attractive rival could climb even higher.

Price dip causes gold rush and shortage in India

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Banks Expand Retail Gold Offerings

By Joel Rebello
Daily News & Analysis, Mumbai
Monday, September 25, 2006

http://www.dnaindia.com/report.asp?NewsID=1055154

MUMBAI -- Demand for gold is expected to rise by at least 25 percent in the festival season and banks are offering gold in various denominations ranging from 5 grams to100 grams.

The festival season, considered auspicious to buy bullion, has coincided with a softening in prices of the yellow metal. Gold prices dropped to Rs 8,885 per 10 grams from an all-time high of Rs 10,665 in May. Analysts tracking the metal attribute the decline to falling crude prices, as gold is considered to be a hedge against high oil prices.

Bank of Tokyo sees faster advance of China's yuan

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By Min Zeng
Bloomberg News Service
Monday, September 25, 2006

http://www.bloomberg.com/apps/news?pid=20601087&sid=avsns5RqOmDY&refer=h...

China will allow the yuan to rise more than 5 percent against the dollar over the next 12 months to help cool its economy, according to Bank of Tokyo-Mitsubishi UFJ Ltd.

The yuan, which last week reached the strongest since China ended a peg to the dollar in July 2005, will appreciate to at least 7.50 per dollar within a year, said Paul Chertkow, London- based head of global currency research at Bank of Tokyo- Mitsubishi, in a research note on Sept. 22.

Another bullion fund, Central Gold-Trust, launches on Amex

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By Jon A. Nones
Resource Investor
Friday, September 22, 2006

ST. LOUIS -- After three years of trading on the Toronto Stock Exchange, Central Gold-Trust joined its sister the Central Fund of Canada on AMEX today under the symbol GTU. With gold up 2% for the week, the fund’s manager hopes to ride the positive sentiment in a new market.

"The Trust has achieved this significant milestone to broaden its market ability and will continue to soundly steward the assets entrusted to it by investors," said Stefan Spicer, president and CEO of Central Gold-Trust, in a press release.

Goldman's revision of commodity index caused plunge in gasoline prices

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From The King Report
By William J. King
Friday, September 22, 2006

http://www.mramseyking.com/thekingreport.html

In yesterday's Wall Street Journal, Section C, there is a very interesting item in the article headlined "Some Investors Lose Their Zest For Commodities." The article notes that over that past few months, commodity funds have been liquidating commodity holdings. But here's the stunner: "Consider the Goldman Sachs commodity index, one of the most popular vehicles for betting on raw materials. In July, Goldman Sachs tweaked the index's content by cutting its exposure to gasoline. Investors tracking the index had to adjust their portfolios accordingly -- which sent gasoline futures prices tumbling."

Canada's ROB-TV interviews market analyst Peter Grandich

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2:43a ET Saturday, September 23, 2006

Dear Friend of GATA and Gold:

Peter Grandich, editor of the Grandich Letter and a speaker at this weekend's Toronto Resource Investment Conference, appeared for an hour on Canada's ROB-TV Friday night and discussed influences on the gold market (mentioning GATA) and the prospects for particular mining shares. It was a meaty interview for metals investors and it will be viewable at the ROB-TV archive for a week here:

MineWeb has two reports on Silver Summit in Coeur d'Alene

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2:45p ET Friday, September 22, 2006

Dear Friend of GATA and Gold:

MineWeb's Dorothy Kosich has filed two reports from the Silver Summit in Coeur d'Alene, Idaho.

The first is headlined "Packed Idaho Conference Attests that Silver Mining Is Thriving" and can be found here:

http://www.mineweb.net/american_notes/202540.htm

The second is headlined "Silver Outlook Is Positive, Say Analysts" and can be found here:

Dubai's AMEInfo: Buy gold to hold, not to trade

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From AMEInfo, Dubai
Thursday, September 21, 2006

http://www.ameinfo.com/96992.html

Dr. Marc Faber this week told Bloomberg he is a buyer of gold at and below $580 an ounce. But traders in gold have recently suffered a mauling because central banks are manipulating the market.

The Federal Reserve wants to contain inflation to engineer an interest rate cut before the November US elections. It is as plain as the nose on your face that gold market interventions of the past couple of weeks have been organized to bleed gold traders dry.