Blog

March 15, 2005 – On March 10th GATA (www.gata.org) issued a press release that presented an analysis of the gold market prepared by Dan Norcini, a futures trader based in Houston, Texas. Observing that the Commodity Research Bureau (CRB) Index – which is composed of seventeen different commodities important to economic activity – had justRead more

February 21, 2005 – The International Monetary Fund supposedly owns about 3,200 tonnes of gold. I say ‘supposedly’ purposefully, because like the deceptive accounting used by so many central banks to report their gold holding, one never knows for sure whether all the gold is really there or not. Assuming the IMF’s gold has notRead more

January 31, 2005 – In the previous article I provided a bullish forecast for gold and the gold mining stocks in 2005. My comparison was to 1987. After gold rose in 1986 while the mining stocks fell that year (the same as happened in 2004), the XAU jumped 43.9% on 1987’s 20.1% rise in theRead more

January 10, 2005 – From time to time over the past couple of years I have been comparing our present circumstances to those prevailing in the 1970’s. I made these comparisons in order to demonstrate that gold today has much the same potential to do what it did back then – namely, to achieve aRead more

December 13th, 2004 – Lines are being drawn in the debate about the new exchange-traded fund developed by the World Gold Council, which is listed on the NYSE under the symbol GLD. Several items have recently appeared on www.thebulliondesk.com, for which I am compelled to respond lest there be any misunderstanding about my point ofRead more

December 5th, 2004 – In my article “Where is the ETF’s Gold?” I raised important questions about the loose custodial controls being used to manage the assets of the new exchange-traded fund being sponsored by the World Gold Council. So far, the WGC has not responded, but investors have – they appear to have goneRead more

November 22, 2004 – This past Thursday trading began on the NYSE for what is being called a ‘gold ETF’. Here’s how CBSMarketWatch described it just before the launch: “The first exchange-traded fund investing in gold bullion will begin trading on the New York Stock Exchange on Thursday, said sources familiar with the situation. CalledRead more

November 1, 2004 – Gold closed on Friday at $428.50. It was the highest weekly closing price for gold since $431.70 on December 2, 1988, and the highest monthly closing price since $431.30 in August 1988. These new 16-year closing highs are very significant. There are many investors who do not follow daily prices. TheyRead more

October 18, 2004 – Readers are probably aware that I was interviewed in the October 4th issue of Barron’s. The entire interview, which was fairly wide ranging, is posted at the Smart Money website:  www.smartmoney.com. I received a lot of feedback about the interview, but nearly all of it was directed to my comments aboutRead more

September 27, 2004 – I am often asked to provide my thoughts about the “big picture”. It’s a fair request, as it is understandable that people want to view as many different perspectives on the future as possible. But to better understand the future, it is sometimes necessary to look at the past. And perhapsRead more