Daily Dispatches

The gold game: Hedging inventory risk

Section:

12:39a ET Sunday, May 21, 2001

Dear Friend of GATA and Gold:

Thanks to our friend who spotted and forwarded the article
below from a major German daily newspaper, and to our
friend who translated it. While I get the sense that the
newspaper simply hasn't been listening to much of what
we have been saying and has no command of the details,
that's probably not very important. No, what's probably

Gold soars in classic investment ''squeeze''

Section:

MIDAS COMMENTARY FOR MAY 20, 2001

By Bill Murphy
www.LeMetropoleCafe.com
May 20, 2001

Gold $286.50 up $12.65
Silver $4.55 up 8 cents

On Friday I informed you that it was the bullion
dealers and trade that ran up the gold price after it
broke above $275. I explained that it was clear to me
that once the dealers saw the Gold Cartel losing, they
panicked -- for they know what is coming down the road.

German newspaper article is skeptical, but who cares?

Section:

12:15a ET Sunday, May 20, 2001

Dear Friend of GATA and Gold:

There's an encouraging note in the following Reuters
story about the election of AngloGold CEO Bobby
Godsell as president of the World Gold Council: some
recognition that gold is money, not just jewelry, and
that developing nations need a currency alternative
to the U.S. dollar. This just may be something for
us to build on with the WGC, which lately has shown

Greenspan and bullion dealer panic over gold

Section:

By Don Luskin
Special to TheStreet.com
May 18, 2001
Originally posted at www.RealMoney.com

http://www.thestreet.com/comment/openbook/1433611.html

I wrote Thursday that we had taken a position in a couple
of gold stocks: Newmont Mining and Homestake Mining. It's
been more than 20 years since I've traded gold stocks;
doing it again took me back to my earliest days of trading

Durban Roodeport Deep supports GATA again and again

Section:

By Alden Bentley

NEW YORK, May 18 (Reuters) -- New York gold and silver
futures paraded to new highs after London closed on
Friday, chased by speculators who flipped stale bearish
positions into bets on further gains, dealers said.

The active June gold contract turned morning slippage into
a stunning 5 percent gain after midday, officially ending up
$13.80 at $287.80 an ounce, its highest since Sept. 28, 2000.

"It takes a monumental event to get gold moving like this"

Section:

By Lisa Sanders
wwwCBS.MarketWatch.com
May 18, 2001

NEW YORK (CBS.MW) -- Gold futures prices leaped more
than 5 percent to a nine-month high Friday as speculation
about inflation and the possible end to central bank sales
of the precious metal pushed it past a key technical level
and sparked an afternoon rush among traders.

June gold futures rose by $13.80 to settle at $287.80 an
ounce on the Commodities Exchange division of the New

Gold spikes to 9-month high; gold and silver shares follow

Section:

By Tim Wood
TheMiningWeb.com
May 16, 2001

NEW YORK -- There is a creeping perception that the
gold market is in the midst of a turning tide, for
the better at last, as gold raced to a near quarter
high of $272.20 per ounce bid on Wednesday afternoon.
That's a four-dollar increase on the day and this
time it may be more than just another burst of short
covering.

* * *

For the complete story:

Tide is turning for gold, Mining Web says

Section:

"MIDAS" COMMENTARY FOR MAY 16, 2001
DUPLICATION PROHIBITED WITHOUT PERMISSION

By Bill Murphy
www.LeMetropoleCafe.com
May 16, 2001

Gold $272.10 up $4.30
Silver $4.45 up 15 cents

Mega-commodity fund John Henry was a huge buyer
today with Goldman Sachs executing the trades for
them. It must have been a most unwelcome big order
for Goldman Sachs, a grin-and-bear-it type.

I cannot stress enough how important the news out

GATA claims, lawsuit discussed in South African Parliament

Section:

11:38p ET Tuesday, May 15, 2001

Dear Friend of GATA and Gold:

Here is a suggestion for our American friends who would
like to help us expose the U.S. government's manipulation
of the gold price.

First, please print copies of James Turk's essay, "How
ESF / Bundesbank gold swap caps the gold price," which
is archived in two parts here:

http://groups.yahoo.com/group/gata/message/734

Gold futures and stocks move higher

Section:

Daily gold market commentary
for May 16, 2001
at www.USAGold.com

Gold rallied convincingly in early New York trading,
blowing through the $270 barrier and causing concern
among traders short the market. In what I thought to be
a slightly odd assessment of this morning's market
conditions and one which perhaps reveals more than
was intended, one trader said, "There is no panic on
the gold market now, especially after yesterday's

Syndicate content