Gold and Silver Juniors, Mid-tiers and Producers Message Board

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

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From: loantech	5/16/2007 9:18:03 AM
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Gold has held up very well under this sellingpressure: <The power of gold is evident elsewhere in the world this AM. The Spanish central bank has sold 80 tonnes of gold (plus US Treasuries and UK Gilts) in the past few weeks in line with its Washington Accord commitments. This has capped the price move to the upside. But gold has been resilient and has yet to break below $665. It is trading at US$671 this AM. Ambrose Evans Pritchard (UK Telegraph) notes that Spain’s current account deficit is 9.5% of GDP. That is why she has been a seller – and accordingly Banco D’Espana’s foreign currency reserves have fallen to 12 days of imports.>>>> From Dr. Berry's morning notes.

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