Mike Kosares: The Gordon Brown indicator predicts gold rally

Section:

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:

http://tinyurl.com/2odypb

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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