You are here
Mike Kosares: The Gordon Brown indicator predicts gold rally
11:45a ET Monday, April 23, 2007
Dear Friend of GATA and Gold:
Michael Kosares, proprietor of Centennial Precious Metals in Denver and host of its invaluable USAGold.com Forum, has posted a new "Market Update" letter, and it is delightful for charting the gold price against British Chancellor Gordon Brown's repeated pleadings for the International Monetary Fund to start selling gold. Kosares' chart shows that Brown's calls for gold sales by the IMF precede sharp rallies in the gold price.
Kosares writes: "Brown's latest attempt to persuade the IMF to sell gold suggests that the bullion banks are still having difficulty finding physical gold, and if that is the case, they are likely to bid up the price to meet whatever obligations are on the table. If the past is an indicator, Brown's new call for IMF gold sales might be predicting another explosive move upward."
You can find Kosares' "Market Update" letter at USAGold here:
http://www.usagold.com/amk/usagoldmarketupdate042307.html
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
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 www.GATA.org. GATA is grateful for financial contributions, which are federally tax-deductible in the United States.
