Peter Grandich challenges the gold bears


11:15p ET Wednesday, February 17, 2010

Dear Friend of GATA and Gold:

Gold market analyst Peter Grandich could not be more enthusiastic about tonight's announcement by the International Monetary Fund that it will sell another 191 tonnes of gold. In commentary headlined "Even When Opportunity Knocks a Man Still Has to Get Up Off His Seat and Open the Door," Grandich writes that the IMF announcement could actually hasten gold's rise:

But then Grandich puts his money where his mouth is. In commentary headlined "An Open Challenge," he offers gold bears a $50,000 bet that gold will see $1,200 per ounce before $1,000 per ounce:

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

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