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Daily Dispatches
A second start for World Gold Council''s bullion fund
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBrace for a bust as bubbles look set to burst
By Marc Faber
Financial Times
Monday, March 29, 2004
http://search.ft.com/search/article.html?
id=040329001260&query=Marc+Faber&vsc_appId=totalSearch&state=Form
Credit has to be given to Alan Greenspan, the Federal
Reserve chairman.
He is the first head of a monetary authority who has not
Newmont-Barrick deal isn''t so farfetched, for they''ve dealt before
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches8:48a ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
The World Gold Council's bullion fund in London has
reconfigured itself a little and is attempting today a
second debut, one with more investment funds
eligible to own it. MineWeb reports about it here:
http://trinity.mips1.net/MGGold.nsf/Current/42256E2B005E0A2E42256E6500
Wheaton River to merge with IAMGOLD, breaking into top 10 gold miners
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBy Mathew Ingram
Globe and Mail, Toronto
Monday, March 29, 2004
http://www.theglobeandmail.com/servlet/story/RTGAM.20040329.wmath0329
/BNStory/Business
According to a report in Britain's Sunday Telegraph newspaper,
Denver-based gold producer Newmont Mining is planning a
takeover bid for Toronto-based Barrick Gold -- in part because
Excellent MineWeb report on Wheaton River''s merger with IAMGOLD
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches9:30p ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
Wheaton River Minerals and IAMGOLD announced their
merger tonight in a plan that was said to vault the
new company to the ranks of the top 10 gold producers.
The merger would be accomplished by exchanging
each Wheaton River share for just more than half a
share of IAMGOLD, which is said to be a 22 percent
premium over the average price of Wheaton shares
Ted Butler: Shorts gone wild in gold and silver
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily Dispatches9:51p ET Tuesday, March 30, 2004
Dear Friend of GATA and Gold:
MineWeb's Tim Wood has an excellent and detailed report
on the Wheaton River/IAMGOLD merger that obviously was
researched and written well before the official announcement
tonight. You can find it here:
http://trinity.mips1.net/MGGold.nsf/UNID/TWOD-5XL2NX?OpenDocument
Clarifying the column headlines in the chart in Ted Butler''s commentary
Submitted by cpowell on Tue, 2004-03-30 03:00 Section: Daily DispatchesBy Theodore Butler
The latest Commitments of Traders Report (COT) was a
shocker for gold, as the tech funds plowed onto the long
side and dealers went short in massive numbers.
Adjusting for the trading since the Tuesday cutoff, the
commercial net short position in COMEX gold is at the
highest level ever. This raises the strong possibility of a
selloff, where the funds sell out their long positions and
Chicago Tribune notes growing disbelief in U.S. government''s inflation figures
Submitted by cpowell on Mon, 2004-03-29 03:00 Section: Daily Dispatches9:57p ET Sunday, March 28, 2004
Dear Friend of GATA and Gold:
GATA supporters are already squawking about the
increasing speculation that Newmont Mining will
bid to acquire Barrick Gold, the mammoth gold
hedger and handmaiden of J.P. Morgan Chase
and the U.S. Exchange Stabilization Fund. Why,
our friends ask, would anyone who believes in
gold and silver want anything to do with the
company that has done so much to undermine
Russia''s Norilsk buys Anglo American''s 20 percent of Gold Fields
Submitted by cpowell on Mon, 2004-03-29 03:00 Section: Daily DispatchesPrices rising despite low inflation rate;
key indicators questioned
By Greg Burns
Chicago Tribune
Sunday, March 28, 2004
http://www.chicagotribune.com
At the same time the federal government is reporting inflation
at rock-bottom levels, the cost of medical care, tuition and
housing have shot up. From gasoline to coffee to gold,
commodity prices are soaring to heights not seen in years.
Barrick says Newmont bid story is ''wild speculation''
Submitted by cpowell on Mon, 2004-03-29 03:00 Section: Daily Dispatcheshttp://biz.yahoo.com/rc/040329/minerals_russia_norilsk_2.html
By Aleksandras Budrys and Mark Bendeich
MOSCOW/LONDON, March 29 (Reuters) -- Russian metals giant
Norilsk Nickel took a bold step outside its homeland on
Monday, buying a fifth of the world's fourth-biggest gold
miner, Gold Fields Ltd, for $1.16 billion.
Richard Russell: The big money is dumping equities, so get into cash and gold
Submitted by cpowell on Mon, 2004-03-29 03:00 Section: Daily DispatchesBy Nicole Mordant
http://biz.yahoo.com/rc/040329/minerals_barrick_newmont_2.html
VANCOUVER, British Columbia, March 29 (Reuters) -- Barrick
Gold Corp. termed "wild speculation" Monday a report over the
weekend that Newmont Mining Corp. was getting set to make a
takeover offer for it, but added it would vigorously defend itself
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