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http://english.peopledaily.com…/eng20040307_136780.shtml
Last updated at: (Beijing Time) Sunday, March 07, 2004
China's Xinjiang auctions off mining rights
The mining rights for seven mines in China's far western Xinjiang Uygur Autonomous Region have been sold for 182.5 million yuan (US$22 million) at auction, the biggest ever sale since the region privatized mining rights last December.
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http://www.ameinfo.com/news/Detailed/35759.html
United Arab Emirates: Saturday, March 06 - 2004 at 14:57
Official data for UAE gold sector released by DMCC
Dubai's global reputation as a leading gold centre of note has been clearly confirmed by the Dubai Metals and Commodities Centre (DMCC), following the organisations release of Dubai's gold import and export figures for the last three years.
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Colin Griffith, Executive Director for Gold & Precious Metals at DMCC.
According to DMCC statistics, Dubai the 'City of Gold' is clearly strengthening its already powerful position as one of the leading international hubs for the gold industry. With the extremely high consumption levels of gold products, by both local inhabitants and the ever-growing number of tourists, these figures are expected to substantially increase over the next few years.
This is the first occasion that official industry-specific data has been made available to the gold sector. DMCC has reiterated their commitment to working with the necessary authorities and leading industry players, in order to facilitate the regular release of Dubai's gold import and export data in order to provide much needed consistency and transparency for the industry. Data will be distributed to members and will also be made available on DMCC's website amongst other channels.
'DMCC is dedicated to the growth and promotion of Dubai as a global centre for the trade of gold, diamonds and commodities. Data in regard to the sectors which we support is a vital tool and it is our intention to provide these numbers and additional local industry statistics which are currently being compiled,' said Colin Griffith, Executive Director for Gold & Precious Metals at DMCC.
Griffith added: 'Despite a significant increase in gold prices, the 2003 figures confirm Dubai's status as a leading global hub for gold and the city's excellent spread of business partners, trading with 75 countries worldwide, the largest of these being Switzerland, India, Saudi Arabia, Singapore and Pakistan.'
The Dubai Metals and Commodities Centre (DMCC) was created in 2002 as part of a strategic goal by the Dubai Government to establish a commodity market. It provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serving the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
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Gold Pops Big / Silver Headed For The Moon
By: Bill Murphy, John Brimelow, Mike Bolser & More, Le Metropole Cafe, Inc.,
March 5 - Gold $401 up $8.60 - Silver $6.95 up 21 cents
Our energy is in proportion to the resistance it meets. We attempt nothing great but from a sense of the difficulties we have to encounter, we persevere in nothing great but from a pride in overcoming them... William Hazlitt
(William Hazlitt (1778-1830) is one of the great masters of English prose style. Hazlitt turned criticism into art form. Many of his essays are like conversation poems - witty, profound and eagerly alive to the surfaces of the work of art he is appreciating. No study of the Romantic movement can be complete without a reading of his essays. For too long he has been regarded as a marginal figure, instead of being seen as the supreme genius of Romantic prose. A radical republican, like Milton, he possessed an epic imagination which he chose to embody in an eloquent stream of reviews and critical essays.)
GO GATA!!!!
A horrendous US jobs report sent the dollar reeling and gold/silver soaring.
March 5 (Bloomberg) -- U.S. employers added 21,000 workers in February, less than the lowest forecast amid the fastest annual economic expansion in at least two decades. The unemployment rate held at 5.6 percent and more job-seekers left the work force.
The results follow a January gain of 97,000 that was less than previously estimated, the Labor Department said in Washington, and trailed the median forecast of 130,000 in a Bloomberg News survey of economists. Factory employment fell by 3,000, the 43rd straight decline. –END-
Thus, the two upcoming big events which pressured gold this past week were both non-event duds – those being a cut in European interest rates, which was to weaken the euro, and a positive US jobs report, which was supposed to show a strengthening American economy, thereby giving further support to the dollar. 0 for 2!
The disappointing job news electrified the bond bulls, dollar bears and gold bulls. Bonds rose 3 points at one point, finally settling at 115 28/32, up 2 5/32. The dollar fell to 88.23, down .99, while the euro jumped 1.84 to 123.47. Gold quickly bolted $9 higher before Goldman Sachs and the gold police showed up to pound gold down, as per their usual drill. For almost the entire day the $6 rule was enforced with gold trading in a range of $6 to $7 higher. However, the buying was so large The Gold Cartel forces were taken on and gold moved up another $2 as we came into the close.
While I will have a smile on my face this weekend, it must be reported how sickening this gold manipulation operation is. Anyone watching gold trade today could see it. We should have been up $16, just like we got on the downsides. But ... NO ... not allowed. Worse thing is, ONLY the GATA camp screams about this outrage.
Good to see gold with a $400 handle again. If we take out, $403.50 basis the April contract, the floor thinks gold will accelerate very quickly. It ought to. The fundamentals are as good as they get.
The gold open interest fell 3497 contracts yesterday to 231,680 going into the jobs report. The silver open interest also dropped to 111,226, down 2311 contracts. A number of traders feared a strong report could send the precious metals into the toilet.
There were no gaps left today, leaving a good shot at some sort of breakaway gap next week.
JUST IN:
One of my best sources heard today from a veteran London gold dealer that he has never seen the gold market this tight in 35 years in Switzerland, England and the rest of Europe. Gold is just not available in size at these low prices. A number of coin operations are shutting down because they have no supply. The coin market is barren. He also tells me this London dealer confirms the information presented to you over the past few months about China. They are shifting a portion of their dollar reserves into the precious metals, and doing so in a manner that doesn’t ruffle the dollar, which could happen were they directly selling the dollar and buying euros for example.
Gold has turned
http://futures.tradingcharts.com/chart/GD/44
Silver soared after the jobs report and, unlike gold, made a new high for the day late in the session. Technically, silver looks like a powerhouse. Regard:
http://futures.tradingcharts.com/chart/SV/34
That is one spectacular chart. Silver has broken out from its recent base and trading range. The base is strong enough to support a significant move to the upside. $7.50 for openers. Once the silver genie is let out of the bottle, anything can happen. The energy behind the coming silver move is extremely POWERFUL! Don’t be surprised if we get our $1 move to the upside within weeks.
Now for the silver weekly, a new high:
http://futures.tradingcharts.com/chart/SV/W
As a result of yesterday’s deliveries, March silver open interest fell 1310 contracts to 715. There were only 68 deliveries today, 24 stopped by Deutsche Bank again (a stopper is someone who receives the deliveries from someone else who is selling the silver).
Regarding Goldman Sachs buying those 2 to 3 thousand April $7.50 silver calls yesterday. For 5 ½ years I have been ranting about their manipulating the gold market. Clearly, they are in cahoots with the US Government/Fed. The quid pro quo must be that Goldman stays all over the gold price for The Gold Cartel and, in turn, they receive information in advance regarding economic reports. You can’t tell me GS didn’t know how bad the employment report was going to be. They knew silver and gold would fly and bought all those silver calls on the cheap. The floor thought they way overpaid for them. The floor also doesn’t deal with the rigging operation facts.
Speaking of the silver floor. Most of the traders are young and have never seen a silver bull market. They can’t even visualize one, which is why there is so little enthusiasm on the floor. The few old timers down there are telling them they won’t believe what the silver price can do on the upside and probably will. So much for those traders on the Comex who said silver will never stay above $6.80.
There is also disquiet on the Comex about copper deliveries. There are so many people taking delivery, they can’t get the copper out of the warehouses on time. Lining up trucks to move it has become a problem. Wait until the silver starts disappearing.
I would like to thank the Café sources again, who have provided us with correct and incredibly valuable gold/silver information over the past many months. Been at this commodity market drill for many years and never had anything like this happen to me before. Hail to the internet and some very nice and plugged-in Café members!
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Gold Cot Report - Futures
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Gold Cot Report - Futures & Options Combined
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Bei weiter anziehenden Goldpreisnotierungen, meiner Meinung nach eine der vielversprechensten Gold Mine mit gewaltigem Hebel auf den Goldpreis. Falls der Südafrikanische Rand schwächer werden sollte, erst recht.
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Commodities Bull Breakout!
Believe it or not, one of the most amazing market developments in decades has just transpired!
The venerable CRB Commodities Index, a basket of 17 key commodities, has gloriously broken free from its nearly two-decade-old overhead resistance and is now ready to target its all-time highs of the early 1980s!
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Adam Hamilton, CPA
March 5, 2004
Beitrag Nr.1
Ein erster Gehversuch in diesem für mich noch neuen Gold Board
RIVER GOLD MINES einer mein persönlichen Gold Minen Favoriten mit einer tollen Meldung über neue Goldfunde bei Probebohrungen mit bis zu 146.41 Gramm Gold pro Tonne, die der Aktie am Montag vermutlich einiges an Auftrieb geben dürfte!
Gruss
ThaiGuru
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http://http://biz.yahoo.com/cc…338ec8d3a3044469dc_1.html
Press Release Source: RIVER GOLD MINES LTD.
River Gold Mines Ltd.: 146.41 gAu/Tonne Over 4.7 Metres
Friday March 5, 4:42 pm ET
TORONTO, ONTARIO--
Drilling Expands 650 Zone At Eagle River
Ongoing drilling is expanding a new zone at the Eagle River gold mine west of Wawa, Ontario. Originally announced March 10, 2003, the new 650 zone has now been traced for strikelength of 100 metres and over a vertical distance of 300 metres. The new zone remains open to the east and at depth. We continue to believe it may be linked with the 202 zone located 100 metres to the east.
The highlight of the new drilling is an intersection of 146.41 gAu/tonne over a corelength of 4.7 metres as listed below. For previous results see Press Release dated March 10, 2003.
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