Gold and silver are money again, Eric Sprott tells King World News
October 31, 2010 by goldguru · Leave a Comment
11:25a CT Saturday, October 30, 2010
Dear Friend of GATA and Gold (and Silver):
Sprott Asset Management CEO Eric Sprott praised GATA’s work in his address to the New Orleans Investment conference yesterday and today is interviewed by Eric King at King World News, where he discusses the prospects for gold and silver and their mining shares as well as the increasing remonetization of gold and silver. The interview is about 14 minutes long and you can find it at King World News here:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/10/30_…
Or try this abbreviated link:
http://bit.ly/cL5pQe
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
Bond and Phillips note GATA, Butler in commentary on silver litigation
October 31, 2010 by goldguru · Leave a Comment
11a CT Saturday, October 30, 2010
Dear Friend of GATA and Gold (and Silver):
Citing the work of GATA and silver market analyst Ted Butler, David Bond of Silverminers.com and Julian Phillips of the Gold Forecaster have taken note of the prospect of CFTC enforcement and federal lawsuits against investment banks Morgan Chase and HSBC over manipulation of the silver market.
Bond’s commentary is headlined “Could This Be It?” and you can find it at GoldSeek’s companion site, SilverSeek, here:
http://news.silverseek.com/SilverSeek/1288382638.php
Phillips’ commentary is headlined “Repeated, Fraudulent Efforts at Deviously Controlling Silver Prices — What Next?” and you can find it at SilverSeek here:
http://news.silverseek.com/SilverSeek/1288400400.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
Is Now a Bad Time to Be Short Silver?
October 31, 2010 by goldguru · Leave a Comment
Chris Mack submits:
The pressure on silver shorts has been relentlessly increasing on a daily basis. On the heels of CFTC’s statement of intention to actually enforce antitrust regulations in the silver market, two lawsuits were filed against JPM and HBC for manipulating the silver price. With the testimony of whistleblower Andrew Macguire and admission that there has been fraudulent activity in the silver market by CFTC Commissioner Bart Chilton, these lawsuits have a much larger chance of success than just a year ago.
One of those lawsuits is seeking group or class action status if enough investors sign up. Silver investors who suffered from losses in 2008 and are interested in joining the lawsuit can contact the law offices of Christopher Lovell at 212-608-1900.
Read more »
Goldcorp Offers Shareholders a Halloween ‘Treat’
October 31, 2010 by goldguru · Leave a Comment
Old Trader submits:
It’s certainly no secret that the precious metal miners don’t loom large (if at all) on the radar screens of income investors. A quick look at some of the more widely held miners (via BigCharts.com) shows GFI (Goldfields) paying 1.22%, ABX (Barrick) at a 1.00% yield, and FCX (Freeport-McMoRan) topping the charts at 1.27%. Frankly, I would say that FCX probably shouldn’t be included in the list by virtue of the fact that it’s primarily a copper miner, rather than gold and/or silver.
In fact, a number of months ago, after I wrote an article for SA in which I listed my portfolio holdings and their weights, I received an email from a reader asking how I reconciled my holding in GG with my profile, where I state that my portfolio is structured to generate income/yield, preservation of capital and appreciation of capital, in that order. I responded to the reader that GG fell into the “preservation of capital” bucket.
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Silver Wheaton Up 4.36% on Friday
October 31, 2010 by goldguru · Leave a Comment
Silver Wheaton Corporation (SLW) Up 4.36% Friday
As we mentioned in our update Thursday, this is just the ‘pop’ that we needed to finish the week well above the $27.00/oz level, which had been acting as resistance to Silver Wheaton’s progress. So it gave us great pleasure to watch this stock close at $28.75, for a gain of $1.20, or 4.36%.
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‘Fraudulent’ silver trades? Have gold markets suffered in the same manner?
October 31, 2010 by goldguru · Leave a Comment
With the CFTC effectively accusing some silver market players of fraudulent practices we ask has the same been happening with gold?
China gives Clinton assurances on rare earths supplies
October 31, 2010 by goldguru · Leave a Comment
In discussions with the U.S. Secretary of State, the Chinese foreign minister promised that China would not cut off rare earths minerals supplies.
Read more….
Korea seeks $1 bn DRC mining-for-infrastructure deal
October 31, 2010 by goldguru · Leave a Comment
Korea is the latest country seeking a slice of the Democratic Republic of Congo’s mineral wealth with a$1bn copper mining and infrastructure deal
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Gold holds up well as IMF sells another 32 tonnes
October 31, 2010 by goldguru · Leave a Comment
The International Monetary Fund (IMF) has confirmed it sold another 32 tonnes of gold in September with Bangladesh being a major buyer
Chinese 2011 Lunar-Zodiac Rabbit Coin Series
October 31, 2010 by goldguru · Leave a Comment
2011 Chinese Lunar Rabbit coin series will be issued on October 26th, 2010 by the People’s Bank of China. There are total 15 coins: 8 gold & 7 silver. They are minted by Shanghai, ShenYang & GuoBao Mints, and solely distributed by China Gold Coin Company.
GOLD:
1/10oz (round shaped), 18mm in diameter, 50 Yuan in face value, 99.9% in fineness & max. mintage at 80000.
1/10oz (round shaped, colored), 18mm in diameter, 50 Yuan in face value, 99.9% in fineness & max. imtage at 80000.
1/2oz (fan shaped) ,cylindrical radius of 58mm, 39mm inner circle radius, central angle 30 degrees，200 Yuan in face value，99.9% in fineness, max. mintage at 6600.
1/2oz (plum shaped), circle diameter 27mm，face value 200 Yuan, fineness 99.9%，max. mintage at 8000.
5oz (rectangular shaped), 64mm x 40mm in size, 2000 Yuan in face value, 99.9% in fineness, max. mintage at 118 pcs.
5oz (round shaped, colored), 60mm in diameter, 2000 Yuan in face value, 99.9% in fineness, max. mintage at 1800.
1kilo (plum shaped), circle diameter 100mm, 10000 Yuan in face value, 99.9% in fineness & max. mintage at 118 pcs.
10kilo (round shaped), 180mm in diameter, 100000 Yuan in face value, 99.9% in fineness & max. mintage at only 18 pcs.
SILVER:
1oz (round shaped), 40mm in dameter, 10 Yuan in face value, 99.9% in fineness, max. mintage at 180000.
1oz (round shaped, colored), 40mm in dameter, 10 Yuan in face value, 99.9% in fineness, max. mintage at 220000.
1oz (fan shaped) ,cylindrical radius of 85mm, 60mm inner circle radius, central angle 30 degrees，10 Yuan in face value，99.9% in fineness, max. mintage at 66000.
1oz (plum shaped), circle diameter 40mm, 10 Yuan in face value, 99.9% in fineness, max. mintage at 60000.
5oz (rectangular shaped), 80mm x 50mm in size, 50 Yuan in face value, 99.9% in fineness, max. mintage at 1888.
5oz (round shaped, colored), 70mm in diameter, 50 Yuan in face value, 99.9% in fineness, max. mintage at 11800.
1kilo (round shaped), 100mm in diameter, 300 Yuan in face value, 99.9% in fineness & max. mintage at 3800.
All coins are legal tender of P.R.C.
Read more….
