GOLDBUGS AMEX Goldbugs Index (GOLD)

[sumisu]

Buddie,

Rest assured that any sales by the Bank of England would be scooped up by China and India, amongst others. However, I think last week was a correction and participants were panicked into selling.

There is a story that the Bank of England once pre-announced the sale of gold driving the gold price down and then it would sell. I think this happened when the price of gold was $250 an ounce and it was considered a relic.

Times (and market participants)certainly have changed. This is just the beginning regardless of last week's selloff. We will be much higher by year-end, imo.

sumisu