Our intelligence sources have informed us that Alan Greenspan has given the bullion banks until the end of May to clear up their hedging and outstanding gold derivative positions. Evidentially this process has been going on for some time. Furthermore, Tony Blair will try to make available, at the upcoming British gold auction, additional gold which will go to banks designated by Alan Greenspan. We were also told that AngloGold will sell forward a designated amount of gold to banks also specified by Alan Greenspan. Our source for this intelligence has been very accurate in the past.
Physical gold is in great demand and in short supply.
There are only six more auction sales to go. Gold Fields is shutting down its mines in the Free State and even further cutbacks are possible. The St. Helena Mine will be closed down and Oryx will be operated with Beatrix. Oryx has not been a moneymaker. Closure will take about 300,000 ounces of gold production off the market annually.