Credit Agricole’s brokerage declares "start hoarding" gold!
St. LOUIS - Cheuvreux, the equity brokerage house of the French bank Credit Agricole, distributed a 56-page report today endorsing the findings of the Gold Anti-Trust Action Committee (GATA) that the price of gold has been surreptitiously suppressed by Western central banks and that those banks do not have the gold they claim to have.
The report, written by Cheuvreux’s mining sector analyst in London, Paul Mylchreest, is titled "Remonetisation of Gold: Start Hoarding." It repeatedly cites GATA by name and foresees an "unprecedented" rise in the gold price. But what is more, the report accuses central banks of “covert selling.”
According to the report, Cheuvreux has raised its mid-cycle gold price estimate to $900/oz from $750/oz, and sees the possibility of a spike to $2,000/oz, or higher.
( To read the rest of the story, Click here )
The report, written by Cheuvreux’s mining sector analyst in London, Paul Mylchreest, is titled "Remonetisation of Gold: Start Hoarding." It repeatedly cites GATA by name and foresees an "unprecedented" rise in the gold price. But what is more, the report accuses central banks of “covert selling.”
According to the report, Cheuvreux has raised its mid-cycle gold price estimate to $900/oz from $750/oz, and sees the possibility of a spike to $2,000/oz, or higher.
( To read the rest of the story, Click here )
posted by Oil Shock at 1:05 AM
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