Barrick and its OTC Short of Gold Derivative Obligations:
I am asked constantly how Barrick can cover all their hedges.
The answer is quite simple. Barrick does not have to buy one ounce of gold. You buy your way out of hedge contracts with paper money.
The simple question is what does the long side want to [...]

Hi Frank,
Jim Sinclair once wrote that when we look back on gold we will see that it went up in a straight line as much as any market can. Graph these numbers and take a look:
3/31/04    – 427 6/30/04    – 392 9/30/04    – 418 12/31/04  – 437 [...]

Dear CIGAs,
It would appear that yesterday’s move higher in the mining shares as reflected by the up day for the HUI was a precursor of things to come in the gold pit. With the HUI popping back above both its 10 and 20 day moving averages, momentum buying was seen in the Comex gold pit [...]

Dear CIGAs,
Here is an unusual problem at a South African mine. No it is not a circus elephant, this is the real thing.

Dear CIGAs,
Ayn Rand wrote the following about those who are best described as Profiteers of Destruction:
"Your laws don’t protect you against them, but protect them against you — when you see corruption [...]

Dear CIGAs,
The end of September is here.  We wish you a happy and healthy fall season in the northern hemisphere and spring in the southern hemisphere.
THE G-20 MEETING
Last Thursday and Friday, the G-20 meeting was held in Pittsburgh.  At this meeting, it was decided that world economic power, which had been the bailiwick of the [...]