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Daily Dispatches
Acquiring Glamis, is Goldcorp trying mainly to fend off Barrick?
Submitted by cpowell on Tue, 2006-09-05 08:50 Section: Daily Dispatches8:35a ET Tuesday, September 5, 2006
Dear Friend of GATA and Gold:
Edgar J. Steele, a lawyer in Idaho who is proprietor of ConspiracyPenPal.com, has written an essay just posted at GoldSeek's companion site, SilverSeek, offering some interesting speculations about Goldcorp's bid for Glamis Gold and Goldcorp's own risk of becoming a target for Barrick Gold.
Essentially Steele argues that, in acquiring Glamis at a premium price, Goldcorp is striving to make itself too big and unattractive to distract Barrick from its predation of NovaGold.
Corrected e-mail address for silver market analyst Ted Butler
Submitted by cpowell on Mon, 2006-09-04 21:16 Section: Daily Dispatches9p ET Monday, September 4, 2006
Dear Friend of GATA and Gold:
Here's a correction of the e-mail address for silver market analyst Ted Butler that was cited in the previous dispatch:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Join GATA
at the
2006 Toronto Resource Investment Conference
Sunday-Monday, September 24-25, 2006
Ed Steer and Ted Butler: Gold, silver, GATA, and the COT
Submitted by cpowell on Mon, 2006-09-04 20:58 Section: Daily DispatchesBy Ed Steer and Ted Butler
(First, Ed Steer.)
One of the most pleasant aspects of being involved with exposing the manipulation of the price of gold and silver is the quality of the people who I have met on this journey. Of course this would include the entire GATA community, most of whom I have had the pleasure of meeting many times over the last six years.
But at the top of the list people of people I have never met and who would automatically fall into the august group mentioned above is my now good friend Ted Butler. From the first time I read his work way back when, it was evident that this man knew of what he spoke. I have a natural tendency to gravitate to people such as this, and Butler's work was no exception.
James Turk: Mixed signals
Submitted by cpowell on Mon, 2006-09-04 11:13 Section: Daily Dispatches11a ET Monday, September 4, 2006
Dear Friend of GATA and Gold:
GATA consultant James Turk, editor of the Freemarket Gold & Money Report and founder of GoldMoney, turns technical analyst again and finds that silver is leading gold and possibly signaling that the correction and consolidation in their prices are ending. Meanwhile, Turk writes, the weaknesses of the U.S. dollar are continuing. You can find Turk's analysis, "Mixed Signals," in the "Founder's Commentary" box at the top left of the GoldMoney hmoe page here:
Join GATA at the Toronto Resource Investment Conference Sept. 24-25
Submitted by cpowell on Sun, 2006-09-03 22:31 Section: Daily Dispatches10:23p ET Sunday, September 3, 2006
Dear Friend of GATA and Gold:
The Gold Anti-Trust Action Committee will be participating in the 2006 Toronto Resource Investment Conference at the Metro Toronto Convention Centre on Sunday and Monday, September 24 and 25, and you're invited.
GATA Chairman Bill Murphy will address the conference, as will many experts supportive of or sympathetic to GATA, including Peter Grandich of the Grandich Letter, Frank Holmes of U.S. Global Investors, John Lee of Mau Capital Management, Jay Taylor of J. Taylor's Gold and Technology Stocks and J. Taylor's Energy and Tech Stocks newsletters, and Frank Veneroso of Veneroso Associates.
Gold call options may sniff competitive devaluations ahead
Submitted by cpowell on Sun, 2006-09-03 21:43 Section: Daily DispatchesEven the Sophisticated
Are Attracted
by the Lure of Autumn Gold
By Ambrose Evans-Pritchard
The Telegraph, London
Monday, September 4, 2006
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/04/ccview...
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
Submitted by cpowell on Sat, 2006-09-02 12:03 Section: Daily DispatchesChinese Official Opposes
Sale of Dollar Holdings
From Reuters
Saturday, September 2, 2006
http://asia.news.yahoo.com/060902/3/2pc2y.html
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
Submitted by cpowell on Fri, 2006-09-01 00:13 Section: Daily DispatchesBy Andy Hoffman
The Globe and Mail, Toronto
Thursday, August 31, 2006
http://www.theglobeandmail.com/servlet/story/RTGAM.20060831.wgoldmergers...
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
Submitted by cpowell on Fri, 2006-09-01 00:09 Section: Daily DispatchesFrom Reuters
Thursday, August 31, 2006
http://asia.news.yahoo.com/060831/3/2p9rf.html
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
Submitted by cpowell on Thu, 2006-08-31 16:40 Section: Daily Dispatches4:28p 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:
http://www.resourceinvestor.com/pebble.asp?relid=23299
CHRIS POWELL, Secretary/Treasurer