Unprecedented dishoarding by central banks fails to push gold down

Section:

4:33p CT Tuesday, June 19, 2007

Dear Friend of GATA and Gold:

Neal Ryan's daily gold market note for the Blanchard Economic Research Unit today added up the desperation of the world's central banks to prop up the U.S. dollar system by rigging markets. Ryan finds central bank gold sales of more than 240 tonnes in just the last four months, dishoarding at an unprecedented rate. "Seeing the gold price hold above the $640 level during this period of increased sales should be the best demonstration of just how robust the physical demand side of the market is at present," Ryan writes.

You can find Ryan's market note at GoldSeek here:

http://news.goldseek.com/GoldSeek/1182265141.php

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

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