Could be anybody or bodies. China needs more gold for a start.
However, France mentioned some time ago that they would sell. Then a difference of opinion meant it could be delayed.
Now it is on again. That is 120 tonnes per year for 5 years.
That would be part of the "Official sector supply" which was 617 tonnes in 2003. That all disappeared without any problems.
Sofar, in the first 6 months of this year the total in this category was 183 tonnes.
So, there isn't really anything to worry about, but I had hoped that France would have kept its gold.
As mentioned it is expected that total supply from all sources could be well down next year anyhow.
Gerry
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