is there any substance in this .... , page-12

Hi Au

Possibly right, seeing how things are destablising. I heard a talk by a PM analyst from GFMS Limited UK a couple of weeks ago and (from memory) he said that even then the Europeans were not going to sell the maximum agreed to amount of gold this year. He also said that the Chinese were giving no obvious signs of wanting to increase their gold holdings. If they were buying on the open market then I think outfits such as GFMS would know - maybe they are understating their domestic production figures.

As for Gordon Brown: yes if the Bank of England starts buying gold on his instructions then its time to head for the exits.