Daily Dispatches

Russia cuts gold sale estimates, may sell only domestically

Submitted by cpowell on Thu, 2009-10-29 13:09 Section: Daily Dispatches

From Interfax, Moscow
Thursday, October 29, 2009

http://www.interfax.com/3/526442/news.aspx

MOSCOW -- The Russian Finance Ministry has not shelved plans to sell gold from the State Precious Metals and Gemstones Repository (Gokhran) and could sell approximately 25 tonnes of the metal, possibly on the domestic market, a ministry official told Interfax.

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Morgan Chase may have a job for him when he gets out

Submitted by cpowell on Thu, 2009-10-29 12:56 Section: Daily Dispatches

Chinese Man Gets Jail for $8.5 Billion Gold Futures Fraud

By Ben Blanchard
Reuters
Thursday, October 29, 2009

http://in.reuters.com/article/businessNews/idINIndia-43533520091029?rpc=401

BEIJING -- A man in eastern China has been given a nine-year jail term for buying and selling over 58 billion yuan ($8.5 billion) worth of fraudulent gold futures, state media said on Thursday.

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GATA consultant Rob Kirby interviewed by Jay Taylor

Submitted by cpowell on Wed, 2009-10-28 20:57 Section: Daily Dispatches

8:55p ET Wednesday, October 28, 2009

Dear Friend of GATA and Gold:

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Turkey to drop dollar in trade with Iran, China

Submitted by cpowell on Wed, 2009-10-28 19:40 Section: Daily Dispatches

From RIA-Novosti, Moscow
Wednesday, October 28, 2009

http://en.rian.ru/business/20091028/156617011.html

ANKARA, Turkey -- Turkey is switching to national currencies in trade with Iran and China, ending dependence on the U.S. dollar and the euro for about 20 percent of its commodity turnover, local media reported on Wednesday.

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Saudis don't want oil price set in U.S. anymore

Submitted by cpowell on Wed, 2009-10-28 18:27 Section: Daily Dispatches

Saudis Drop WTI Oil Contract

By Javier Blas
Financial Times, London
Wednesday, October 28, 2009

http://www.ft.com/cms/s/0/8cda145a-c3fe-11de-8de6-00144feab49a.html?ncli...

Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.

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Those darn Middle Easterners are suspicious of paper gold

Submitted by cpowell on Wed, 2009-10-28 13:26 Section: Daily Dispatches

Gold ETC Slow to Take Off in Gulf

By John Irish and Jason Benham
Reuters
Wednesday, October 28, 2009

http://www.reuters.com/article/MiddleEastInvestment09/idUSTRE59R2J720091028

DUBAI -- The Gulf region's first gold exchange traded commodity (ETC), a new investment vehicle launched this year, is seeing only modest growth due to regional unfamiliarity with the product.

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Russian finance minister raises gold sales again

Submitted by cpowell on Wed, 2009-10-28 13:20 Section: Daily Dispatches

By Nataliya Vasilyeva
Associated Press
via Yahoo News
Wednesday, October 28, 2009

http://finance.yahoo.com/news/Russia-considering-gold-apf-3094119456.htm...

MOSCOW -- Finance Minister Alexei Kudrin said Wednesday that Russia is considering selling gold on world markets to cash in on high prices as the government faces its first budget deficit in a decade.

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Two more warnings of pervasive market manipulation

Submitted by cpowell on Tue, 2009-10-27 19:45 Section: Daily Dispatches

7:45p ET Tuesday, October 27, 2009

Dear Friend of GATA and Gold:

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Patrick Heller: Gold blast-off starts Friday?

Submitted by cpowell on Tue, 2009-10-27 14:54 Section: Daily Dispatches

3p ET Tuesday, October 27, 2009

Dear Friend of GATA and Gold:

Patrick Heller's new column for Numismaster takes note of recent work by GATA Chairman Bill Murphy and Board of Directors member Adrian Douglas. It's headlined "Gold Blast-Off Starts Friday?" and you can find it at Numismaster here:

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=8134