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The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, www.lemetropolecafe.com.
Latest News
11p ET Thursday, October 23, 2025
Dear Friend of GATA and Gold (and Silver):
Interviewed with Charlotte McLeod of Investing News Network, GATA Board of Directors member Ed Steer, publisher of Ed Steer's Gold and Silver Digest letter, explains why he thinks a sharply rising silver price is inevitable. The short position of the investment banks is too high, he says, and industrial and investment demand is "rapacious."
The interview is 31 minutes long and can be heard at YouTube here:
https://www.youtube.com/watch?v=RzTLT_U4mWc
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Stefan Gleason
Money Metals Exchange, Eagle, Idaho
Thursday, October 23, 2025
With gold and silver pulling back from their all-time highs over the last few days, the naysayers on Wall Street –- who totally missed the huge rally in both metals since Labor Day -- have boldly declared the top is in.
They further claim the dollar "debasement trade" has ended ... and the U.S. dollar is set to strengthen.
... Dispatch continues below ...
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We believe this is wishful thinking by the "paper bugs" who always seem to find a new excuse to bash gold and silver -- and ridicule those who buy it.
As we're now 25 years into a secular bull run that has seen precious metals outperform U.S. stock indexes, you'd think these Wall Street sharpies would have finally changed their tune. ...
... For the remainder of the analysis:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
9:13a ET Thursday, October 23, 2025
Dear Friend of GATA and Gold:
Market analyst Vince Lanci has posted some wonderful commentary at his proprietary internet site --
https://vblgoldfix.substack.com/
-- much of which has been reposted by ZeroHedge today. It's headlined "China Calls Gold Bluff, U.S. Pushes Back" and nails the gold story in a section headlined "Rules of a Managed Market."
Those rules are 1) that gold can go up but not too fast and 2) gold must never receive sustained favorable news coverage.
The excerpt can be found at ZeroHedge here:
https://www.zerohedge.com/news/2025-10-22/china-calls-gold-bluff-us-pushes-back
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Olaf Storbeck
Financial Times, London
Wednesday, October 22, 2025
The German finance ministry has stopped the planned sale of two commemorative coins after the cost of their silver content surpassed their face value.
The unusual step, which affects the issuance over the next three months of a E20 and a E25 coin popular with collectors, highlights the extent of the current rally in precious metals.
... Dispatch continues below ...
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Hero Bullion: Gold and silver simply delivered
While the surge in the silver price is less pronounced than that of the gold price, the precious metal reached a new all-time high this month at $54.30 per troy ounce and is 60% more expensive than at the start of the year.
The first casualty is a coin depicting the biblical "Three Wise Men" as part of a Christmas-themed series of E25 coins that started in 2021. They are made from 22 grams of pure silver, which has a current market value of about E29. Previous editions have been sold for as much as E45.95. ...
... For the remainder of the report:
https://www.ft.com/content/04000284-6713-4de6-ae9f-18316c7b8343
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
After Gold's Big Plunge, Here's What History Shows Could Happen Next
By Myra P. Saefong
MarketWatch, New York
via MSN News, Redmond, Washington
Wednesday, October 22, 2025
Gold prices fell again on Wednesday, a day after posting their biggest one-day drop in over a decade -- yet history shows that the plunge is more likely to be followed by a modest move higher. ...
But a look at previous big daily declines for the precious metal -- those of 5% of more -- shows that drops like this one may not have a lasting effect.
... Dispatch continues below ...
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An analysis of most active gold futures conducted by Dow Jones Market Data shows that after daily declines of 5% or more since May 24, 2006, prices on average traded about 1.82% higher a month later. The biggest percentage rise was 15.46% a month after a 7.3% fall on June 13, 2006, while the biggest loss was 7.76% a month after a 5.4% fall on May 24, 2006.
"Gold and silver should not be expected to go up in a straight line," Stefan Gleason, president and chief executive officer at Money Metals Exchange, told MarketWatch. Corrections like the one seen this week are "healthy and helpful," he said. "Bull markets climb a wall of worry." ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
GATA's Bill Murphy and Chris Powell will be among the speakers and would love to see you.
* * *
By Brien Lundin
Gold Newsletter / Golden Opportunities
New Orleans Investment Conference
Wednesday, October 22, 2025
You could call it the speculator's Nirvana.
Money Magazine dubbed it "the greatest investment show on Earth." Barron's said it was "an investment bazaar."
I'm talking about the New Orleans Investment Conference. It's where fortunes have been made year after year.
... Dispatch continues below ...
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Look at some of the boldest, most prescient market predictions over the past 50 years ... and some of the most profitable picks ... and you'll see that they originated from the New Orleans Conference.
And if you compile a list of the biggest resource stock winners of that period, you'll find that most of them spent their early days on our exhibit hall floor, telling their story to our New Orleans Conference attendees.
In fact, I've seen many exhibiting companies multiply 10 times or more in value after our conference. I know of cases where attendees made over a million dollars as a result of just one conversation with one of our exhibitors.
Given the current market environment -- with gold soaring while silver and mining stocks rush to catch up -- I'm confident it's going to happen again this year.
The companies that participate in our annual event are a varied group, and even include many outstanding opportunities outside of the resource sector. But they have one thing in common: Smart management teams with exciting stories to tell.
You should listen to them.
If you're attending this year's New Orleans Conference -- beginning in less than two short weeks -- I urge you to visit with our exhibiting companies.
But if you're not attending in person, don't despair. We've got you covered with:
The World's Greatest Virtual Investment Event
For those unable to make this year's New Orleans Conference, the good news is that you can still get all of the valuable content.
Through our virtual attendance option, you can enjoy full, on-demand access to all of the presentations from dozens of today's top experts -- and for a price that's hundreds of dollars less than others will pay to attend.
And speaking of price ... with the conference coming up quickly, from Sunday to Wednesday, November 2 to5, our registration fees are about to start rising significantly.
This is your last chance to secure the lowest possible price, as the price jumps at midnight tomorrow.
So click here to get all the details and lock in your place while you still can:
https://neworleansconference.com/gata/
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Michael Lynch
Econanalytics.Substack.com
Wednesday, October 22, 2025
Analyzing Comex data since the price roller-coaster began last Friday, Oct. 17, indicates that paper shorts flooded the market at record high volume driving the price down. December contract open interest dropped as paper longs folded.
However, physical gold bought on the October contract continued at a sizzling record pace. Two large players emerge from being somewhat dormant, Bank of America and Morgan Stanley house accounts, and bought much of the physical gold.
... Dispatch continues below ...
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The rush for physical gold continues regardless of price spikes or price smashes.
Since the price-roller coaster began Oct. 17, 6,000 new contracts have been written for immediate physical delivery over the last three days. Each of those were daily records for this point in the delivery period as have each of the last six days. ...
... For the remainder of the analysis:
https://econanalytics.substack.com/p/the-comex-gold-sell-off-is-all-paper
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Stuart Englert
StuartEnglert.Substack.com
Wednesday, October 22, 2025
The best way to discourage bullion buying in a bull market, and to contain gold and silver prices, is to increase volatility. The greater the instability, the greater the unpredictability of price moves, both up and down.
Volatility was the name of the game in the precious metals market in recent days. Gold and silver prices exploded to repeated new highs on four consecutive days last week, rising to $4,300 and $54 an ounce, respectively, by Thursday, only to be smashed steeply lower on Friday.
... Dispatch continues below ...
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Monday ended with another up day, but the metals were driven deeply lower again on Tuesday, with gold falling to nearly $4,000 and silver dropping below $48. Yesterday's price plunges were unprecedented for their size since both metals have posted all-time records this year.
Large and erratic price swings are an effective way to curb investment and dissuade speculative margin traders. Volatile prices are particularly important—and potentially costly—to naked short-sellers in a bullish precious metals market since ardent buyers view physical gold and silver as financial safe havens during turbulent times. The metals also are considered money and competitors to depreciating fiat currencies. ...
... For the remainder of the commentary:
https://stuartenglert.substack.com/p/price-volatility-is-a-psychological
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Sunday-Wednesday, November 2-5, 2025
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
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