Daily Dispatches

Gold call options may sniff competitive devaluations ahead


Even the Sophisticated
Are Attracted
by the Lure of Autumn Gold

By Ambrose Evans-Pritchard 
The Telegraph, London
Monday, September 4, 2006


Gold almost always rises in the autumn, sometimes a little, lately by leaps and bounds.

Even when it churned ever-down from a peak of $850 an ounce in 1980 to $255 in March 2001, it usually managed to eke out a meagre counter-rally each September.

That's some medium of exchange that can't be exchanged


Chinese Official Opposes
Sale of Dollar Holdings

From Reuters
Saturday, September 2, 2006


CERNOBBIO, Italy -- China would only damage itself if it sold dollars from its $941 billion stockpile of foreign currency reserves, a senior official said on Saturday.

The official, Cheng Siwei, vice chairman of the national parliament, said selling dollar-denominated assets would hurt China by weakening the dollar and the country should diversify its bond purchases.

Globe and Mail: Now every miner is in play


By Andy Hoffman
The Globe and Mail, Toronto
Thursday, August 31, 2006


Suddenly Clive Johnson is very popular. Five years ago, when the price of gold was below $300 (U.S.) an ounce, his phone didn't ring for months.

Thursday, it wouldn't stop.

The head of Bema Gold Corp. was inundated with calls from investment bankers pitching deals.

Reuters: More gold company mergers seen in wake of Glamis takeover


From Reuters
Thursday, August 31, 2006


NEW YORK -- Goldcorp Inc.'s move to acquire Glamis Gold Ltd. for $8.6 billion is just the latest in an expected flurry of takeovers in the gold mining business, analysts said on Thursday. The deal comes nearly four months after Goldcorp agreed to buy some Placer Dome assets from Barrick Gold Corp. and after Glamis closed its takeover of Western Silver Corp.

Resource Investor: Barclay's silver ETF shows stealthy demand for metal


4:28p ET Thursday, August 31, 2006

Dear Friend of GATA and Gold:

Resource Investor's Gene Arensberg reports that Barclay's silver exchange-traded fund has added silver steadily over the last month and now claims more than 100 million ounces, suggesting a stealthy demand for the metal. You can find the report here:


CHRIS POWELL, Secretary/Treasurer

Missing gold and missing socks


1a ET Thursday, August 31, 2006

Dear Friend of GATA and Gold:

GATA's friend Ralph Johnston has objected to our nomination Wednesday of gold price suppression case litigator Reg Howe as the new commandant of Fort Knox, Kentucky, site of the U.S. gold bullion depository. "Howe would be disappointed," Johnston writes, since "there's more gold in my sock drawer than in Fort Knox."

This is a fair point of inquiry, and the question is not just whether any gold is left at Fort Knox after decades of Western central bank intervention in the gold market but also, perhaps more importantly, exactly who has title to whatever gold is still there.

Goldcorp pays 33% premium for Glamis and will own 60% of new company


Goldcorp and Glamis Agree to US$21.3 Billion Combination
Creating the World's Premier Gold Mining Company

Joint Company Press Release
via Market Wire
Thursday, August 31, 2006


TORONTO -- Goldcorp Inc. and Glamis Gold Ltd. announced today that they have agreed to combine in a US$21.3 billion transaction to create one of the world's largest gold mining companies. The new company will continue under the name Goldcorp Inc.

Goldcorp to acquire Glamis in friendly deal


By Wendy Stueck
The Globe and Mail, Toronto
Thursday, August 31, 2006


VANCOUVER -- Bucking the trend of corporate Canada becoming a shopping mall for foreign investors, Vancouver-based Goldcorp Inc. will announce Thursday a friendly takeover of Glamis Gold Ltd. that will create the world's No. 3 gold producer.

Yikes! GATA's message breaks through


11a ET Wednesday, August 30, 2006

Dear Friend of GATA and Gold:

The years of work of one of GATA's Australian supporters and publicists, Sid Reynolds, paid off hugely today with his persuasion of FNArena.com's Greg Peel to examine at length some details of the international gold price suppression scheme. Peel did just that in a long essay at FNArena, and, startlingly, TheBullionDesk.com, never terribly interested in GATA's work, has made Peel's essay its lead story at this hour.

Resource Investor takes another look at Barrick's bid for NovaGold


1:32a ET Wednesday, August 30, 2006

Dear Friend of GATA and Gold:

Resource Investor's Jon A. Nones has updated the situation with Barrick's attempt to acquire NovaGold, what with more lawsuits and a new valuation of the junior miner, which Resource Investor puts at as much as $73 per share. NovaGold closed Tuesday at $17.50. (Sweet dreams!)

You can find Nones' report here:


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