Daily Dispatches

AN OPEN LETTER TO JESSICA CROSS,
MANAGING DIRECTOR OF VIRTUAL METALS,
FROM GATA CHAIRMAN BILL MURPHY

Monday, May 3, 2004

Dear Ms. Cross:

Since it advocates a free market in gold, the
organization I chair, the Gold Anti-Trust Action
Committee Inc., is often distressed by your
commentary about the gold market, which seldom
fails to disparage investment interest in gold.

Your new remark about gold demand in India -- that

6:23p ET Tuesday, May 4, 2004

Dear Friend of GATA and Gold:

Mitsui's precious metals expert, Andy Smith, has made
a presentation in London noting that the gold price has
not kept up with the price of commodities. Unfortunately
for those who seek understanding of the gold market,
this observation was for Smith simply an opportunity to
swagger in triumph rather than cause for serious
inquiry about what even he implicitly acknowledges as

The Gold Creed

By Jim Sinclair
Tuesday, May 4, 2004
http://www.jsmineset.com

Please repeat after me: "In 103 days or less gold will
trade at $480."

I know this because:

* China is doing the right thing by increasing interest rates
to decelerate growth to a comfortable 4 percent per year.

* Increased interest rates are part and parcel of a major bull

By Mark S. Wallace
Monday, May 3, 2004

Unfortunately I cannot attend the May 13-14 conference of
the American Institute for Economic Research in Great
Barrington, Mass., about resuming a gold standard, as
reported in GATA dispatch 2122:

http://groups.yahoo.com/group/gata/message/2122

But there are many more reasons now than there were