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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	4/27/2007 1:27:44 PM
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-GOLD- Blanchard reports: The last five weeks have seen massive sales of physical gold by European central banks under the Washington Agreement. Over the past week, two banks sold 17 tonnes into the market; this brings to 76 tonnes the amount sold over the five week period. The only time in the last two years the market has seen such a quantity of gold sold in such a short period was in May last year, when the gold price overblew and subsequently fell from US$730/oz to US$550/oz. Yet the gold price has actually risen US$50 this time in the face of the European sales. On that basis, there is strong evidence to suggest that as soon as this selling pressure moderates, gold must burst through the US$700/oz mark. There must be significant demand if the market can absorb 76 tonnes and stay strong.>>>>>>> No link from a blog.

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