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Hullo GATA Members,
Here are GATA-related tidbits from the technically detailed and more
fully informative Midas*, posted this evening at the James Joyce Table,
Le Metropole Cafe(www.lemetroplecafe.com).
. . .
# We have received information from around the world that all fits
together. First, we have heard of some big player producers that are
very concerned about the appearance of "colluding" with the bullion
banks and gold borrowing crowd. We have good reason to think that some
are pulling in some forward sales right now.
. . .
# There is a big league physical buyer out there ( our sources say it is
Asian official sector buying ). Another European source tell us that one
of the most well known and highly regarded hedge funds in the world has
become a gold buyer ( not Soros ). And, finally Goldman Sachs has turned
big buyer for someone ( maybe themselves ) after selling forever.
Goldman is one of the brokers for this big hedge fund that has been
sighted as a buyer from our intelligence in London. But, in addition,
there are reports that they bought about a million oz. of 2 month 300
gold calls the last few days and aggressively sold 1 year 340 calls.
That would make sense if they, or a client, was preparing for a gold
move. That would mean that they are looking for a $50 move up in the
price of gold. In the past, when the spec short open interest was close
to what it is now ( and there was no manipulation going on ) the market
would move up $50 while the specs exited and some went long. So this
option trade fits in perfectly with historical gold performances and
with what we see coming.
. . .
#Bloomberg, March 4- "Gold in New York is very hard to find,' said
Leonard Kaplan, chief bullion dealer at LPG Bullion Services in Chicago.
"One of the major bullion banks in New York has taken 4 tons of gold out
of the Comex warehouses in the last 48 hours."
. . .
#John Doody, who puts out the very highly regarded Gold Stock Analyst,
has contributed to GATA. We thank him and all the rest of you that have
given the Committee your support.
. . .
#Word from Europe: the ECB (European Central Bank) is cracking down on
the various central banks and establishing greater control over their
activities. As a part of that reigning in of power, we hear that they
are limiting the leasing activities of the various central banks and
have set a limit as to what can be lend. This information comes from a
very good source, but has not been confirmed. This source says that the
ECB does not want the gold price to go any lower.
. . .
#We did receive confirmation from this same source that the producers
are going to raise the leasing problem and other issues with the ECB in
a concerted manner . . . Much of this is to be spearheaded by the World
Gold Council which has just named a new President.
. . .
#Speaking of the World Gold Council. I had a very nice chat with Michael
Barlerin, a top honcho of the World Gold Council today. He was curious
how GATA's efforts were coming along. We are to touch base again in the
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*Bill Murphy, GATA Chairperson, writes a regular column on gold and
silver sales as Midas du Metropole at Le Metropole Cafe, where he is Le
(See also under Committee at www.gata.com).
Disclaimer notice: Midas du Metropole does not look like an investment
advisor, nor is he one. Any comments about any gold and silver shares by
Midas or any of the Cafe members are for your information and
entertainment only. They should not be regarded as advice and should be
treated like comments passed on at any other Cafe. We are only relating
as to what we like for our own accounts.