S. African Reserve Bank adds 700,000 gold ounces to reserves in January

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By Evan Pickworth
I-Net Bridge, South Africa
Wednesday, February 7, 2007

http://corporate.hosted.inet.co.za/news/story/2204630

The South African Reserve Bank's holdings of gold reserves increased markedly in January to 4.684 million ounces from 3.990 million ounces in December 2006, and according to a leading economist, this could be due to the bank's taking the opportunity to build up reserves when it is "hard to argue against a long-term bullish view on gold."

Central banks are becoming gold buyers, Blanchard & Co. says

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Company Press Release

By Neal R. Ryan
Vice President and Director of Economic Research
Blanchard and Co. Inc., New Orleans
Wednesday, February 7, 2007

www.blanchardonline.com

According to recently updated IMF reserves statistics, some central banks have begun purchasing significant quantities of gold over the past few months, in stark contrast to the most recent figures available to the market, says Donald W. Doyle, Chairman and CEO of Blanchard and Co. Inc.

Miners march in Bolivian capital to protest tax increase

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By Dan Keane
Associated Press
Tuesday, February 6, 2007

http://biz.yahoo.com/ap/070206/bolivia_miners_protests.html?.v=1

LA PAZ, Bolivia -- More than 20,000 miners from across Bolivia marched into La Paz on Tuesday, tossing bits of dynamite that sent booming explosions echoing through the streets in a protest of President Evo Morales' plans for a steep hike in mining taxes.

The hard-hatted miners whistled and chanted as they filed through the center of the capital city in the protest against the tax proposal, which they say would unfairly burden hundreds of small independent miners' cooperatives.

Commodity supplies in doubt as developing countries can't settle mining law

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Indonesian Mining Stalls

Disputes Over Control
Halt Development Steps,
Pressure Commodities

By Tom Wright and Patrick Barta
The Wall Street Journal
Wednesday, February 7, 2007

JAKARTA, Indonesia -- Indonesia has some of the world's largest reserves of gold, coal, nickel, and other valuable commodities, many of which have seen their prices soar in recent years. Yet mining companies haven't broken ground on a single large new mine here since Asia's 1997-98 financial crisis.

Clive Maund: Gold is probably manipulated but I don't care

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5:20p ET Tuesday, February 6, 2007

Dear Friend of GATA and Gold:

Gold market and technical analyst Clive Maund's new commentary asks the musical question: "Gold price manipulation -- Does it matter?" He concludes that the answer is no more important than whether the chewing gum loses its flavor on the bedpost overnight.

But Maund's commentary itself is important for signifying that manipulation of the gold market is increasingly accepted as a given by analysts, if only grudgingly, since, of course, manipulation makes a mockery of analysis and analysts alike. Indeed, technical analysis of a manipulated market is worthless if it takes no account of the manipulation. That is, despite their conscientiousness, people like Maund have been largely wasting their time.

Commodities were up but somehow Goldman's index for them was down

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Goldman Sachs Sells Top Commodity Index

By Kevin Morrison
Financial Times, London
via Yahoo News
Tuesday, February 6, 2007

http://biz.yahoo.com/ft/070206/fto020620071349313629.html?.v=1

Goldman Sachs has agreed to sell its GSCI commodity index to Standard & Poor's for an undisclosed amount.

The move will give S&P a potentially powerful influence on commodity markets as any changes to the index composition can have wide ramifications for underlying commodity prices.

John Dizard: Goldman Sachs and its magic commodities box

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By John Dizard
Financial Times, London
via Yahoo News
Monday, February 5, 2007

http://news.yahoo.com/s/ft/20070205/bs_ft/fto020520071619273517;_ylt=As8...

Two weeks ago I unfairly profiled the Chicago speculator community. "Profiling," in the sense of accusing or convicting a suspect based on race or general appearances, is wrong, even in the case of such a rich and privileged group as the "locals," or speculators in the commodities pits.

Goldman Sachs seeks share of second Indian commodities exchange

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By Reena Zachariah
Business Standard, Mumbai
Tuesday, February 6, 2007

http://www.business-standard.com/common/storypage.php?autono=273759&left...

MUMBAI -- Nearly a month after acquiring 5 percent in the National Stock Exchange, Goldman Sachs has proposed to buy a stake in the Multi Commodity Exchange (MCX), India's largest commodity bourse.

Sources said Goldman Sachs, which holds 7 percent in the National Commodity and Derivatives Exchange Ltd (NCDEX), the other leading commodity bourse, said the MCX buy would be considered an investment and not a strategic acquisition.

Asarco charges Mexican parent company with stealing most valuable asset

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By Les Blumenthal
McClatchy Newspapers
Monday, February 5, 2007

http://www.realcities.com/mld/krwashington/16629646.htm

WASHINGTON -- One-time mining giant Asarco, charging that its Mexican owner stole its most valuable asset and left it to face $7 billion worth of environmental and asbestos-related claims, has asked a federal bankruptcy judge to void the transfer of two Peruvian copper mines to Grupo Mexico, S.A. de C.V.

Chinese president's shopping excursion arrives in Namibia

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By Celean Jacobson
Associated Press
Monday, February 5, 2007

http://news.yahoo.com/s/ap/20070205/ap_on_re_as/africa_china;_ylt=AoHVk6...

WINDHOEK, Namibia -- Chinese President Hu Jintao announced new development aid for Namibia on Monday, promising an interest-free loan and money for schools in the sparsely populated, mineral-rich desert country.