Hastened dehedging is surprise; and dishoarding may end soon

1:50a ET Saturday, May 5, 2007

Dear Friend of GATA and Gold:

Resource Investor's Jon A. Nones reports that dehedging by gold producers has not slowed down as some analysts expected. So Mitsui Global Precious Metals has increased its estimate of likely dehedging for 2007. You can find Nones' report at Resource Investor here:

http://www.resourceinvestor.com/pebble.asp?relid=31506 [1]

Meanwhile, in the second part of his study of gold price manipulation, Julian D.W. Phillips, editor of Gold Forecaster, analyzes the most recent dishoarding of gold by central banks in the context of their agreement on gold and predicts that the dishoarding will not be able to suppress the gold price much longer. You can find Phillips' analysis at GoldSeek here:

http://news.goldseek.com/GoldForecaster/1178295571.php [2]

And at Kitco here:

http://www.kitco.com/ind/AuthenticMoney/may42007.html [3]

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

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Join GATA
at the
World Gold, PGM, and Diamond Investment Conference
in Vancouver, British Columbia, Canada
Sunday and Monday, June 17 and 18, 2007

http://www.cambridgeconferences.com/ch_june2007.html [4]

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