re: central bank sales resume sept 27
http://www.financialsense.com/editorials/wallenwein/2005/0920.html
(excerpt)
""Euro-CBs Are In Control
What can be expected from here on out will be demonstrated by how the European CBs act when they get the green light for picking up their gold sales again.
* If we get a flurry of really serious gold sales announcements before year-end, then you know the financial world is in trouble. (It's in trouble, anyhow, but then you know that it knows it's in trouble!) If they do, they will manage the price down for a while, but they'll soon see themselves reaching their limit early again next year - most likely much earlier than this year. * If we get no appreciable short term spike in sales, look forward to a smooth resumption of the four-year gold bull, possibly with the price shooting all the way up to the top of its rising channel before correcting again.
But for now, the lagging gold shares portend at least a brief correction, some time during the next couple of two or three weeks. I expect gold to consolidate somewhere between the $450 and the $460 levels during that time. ""
