From The Desk of Peter Grandich

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May 05, 2011 05:00 PM

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• Below is an alert sent out by the good folks at GATA:

Le Metropole Members,

Having called plunge, Grandich and Davies jump back in; Sinclair says: Relax!

Submitted by cpowell on 05:32PM ET Thursday, May 5, 2011. Section: Daily Dispatches 8:29a ET Thursday, May 5, 2011

Dear Friend of GATA and Gold (and Silver):

GATA is not in the trading business or an investment adviser, but when our friends in those lines of work talk about the precious metals, we know that our other friends like to listen — especially when our friends with great trading records talk.

At 11:33a ET today Peter Grandich of the Grandich Letter, who had called the plunge in the precious metals exactly, announced that he had returned to being fully invested in them:

http://www.grandich.com/2011/05/time-to-go-back-in-gold-1481-silver-35-7…

Tonight in an interview with King World News, Hinde Capital CEO Ben Davies, who had also called the plunge exactly, reported that his firm had covered its hedges and was getting back into silver too. “This is the start of a great opportunity to accumulate silver,” Davies said. “All the key fundamental issues in the world have not gone away, nor those specific to silver, such as the fact that it is under-owned and short of supply in the medium-term.” An excerpt from that interview can be found at the King World News blog here:

http://kingworldnews.com/kingworldne...al_Silver.html

And at 2:22p ET today the dean of gold traders, mining entrepreneur Jim Sinclair of JSMineSet.com, wrote that the plunge is only proof that gold will make a major move upward in June. Sinclair’s advice to the friends of gold and silver was simply, “Relax”:

http://jsmineset.com/2011/05/05/the-...-gold-at-5000/

Grandich, Davies, and Sinclair will be among the speakers at GATA’s Gold Rush 2011 conference in London in August. You can learn about the conference and register for it at its Internet site here:

http://www.gatagoldrush.com/

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.




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