SOUTH AFRICA puts the S in BRICS.
----- Original Message ----- From: Gold Anti-Trust Action Committee To: [EMAIL PROTECTED] Sent: Wednesday, February 07, 2007 8:37 PM Subject: [GATA] S. African Reserve Bank adds 700,000 gold ounces to reserves in January S. African Reserve Bank adds 700,000 gold ounces to reserves in January Submitted by cpowell on 06:37PM ET Wednesday, February 7, 2007. Section: Daily Dispatches By Evan Pickworth I-Net Bridge, South Africa Wednesday, February 7, 2007 http://corporate.hosted.inet.co.za/news/story/2204630 The South African Reserve Bank's holdings of gold reserves increased markedly in January to 4.684 million ounces from 3.990 million ounces in December 2006, and according to a leading economist, this could be due to the bank's taking the opportunity to build up reserves when it is "hard to argue against a long-term bullish view on gold." "Keep in mind that they do not declare the constituents of the portfolio, so whatever we say is speculation. You could, however, look at gold as another reserve currency and it is hard to argue against a long-term bullish view on gold," explained Goolam Ballim, chief economist from Standard Bank. "There is a cautionary motive to some of the South African Reserve Bank activities and this is in line with the constructive view that it is an opportunity to build up reserves," he concluded. The SARB's gold and foreign assets total 187.696 billion rand at the end of January from 178.318 billion rand at the end of December, the SARB announced on Wednesday. The gold component was valued at an average price of 4,684.15 rand an ounce. * * * Help Keep GATA Going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at www.GATA.org. GATA is grateful for financial contributions, which are federally tax-deductible in the United States. 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Inc. 909 Poydras St., Suite 1900 New Orleans, Louisiana 70112 888-413-4653 http://www.blanchardonline.com Centennial Precious Metals Box 460009 Denver, Colorado 80246-0009 1-800-869-5115 http://www.USAGOLD.com Michael Kosares, Proprietor [EMAIL PROTECTED] Colorado Gold 222 South 5th St. Montrose, Colorado 81401 http://www.ColoradoGold.com Don Stott, Proprietor 1-888-786-8822 [EMAIL PROTECTED] El Dorado Discount Gold Box 11296 Glendale, Arizona 85316 http://www.eldoradogold.net Harvey Gordin, President Office: 623-434-3322 Mobile: 602-228-8203 [EMAIL PROTECTED] Gold & Silver Investments Ltd. 63 Fitzwilliam Square Dublin 2, Ireland ...and Tower 42, Level 7 25 Old Broad St. London, EC2N 1HN United Kingdom Local Call Ireland: 1-850-GOLD-IE UK phone: +44 (0) 207-060-4653 International: +353 1-632-5010 Fax: +353-1-6619664 www.gold.ie Investment Rarities Inc. 7850 Metro Parkway Minneapolis, Minnesota 55425 http://www.gloomdoom.com Greg Westgaard, Sales Manager 1-800-328-1860, Ext. 8889 [EMAIL PROTECTED] Kitco 178 West Service Road Champlain, N.Y. 12919 Toll Free:1-877-775-4826 Fax: 518-298-3457 ...and 620 Cathcart, Suite 900 Montreal, Quebec H3B 1M1 Canada Toll-free:1-800-363-7053 Fax: 514-875-6484 http://www.kitco.com Lee Certified Coins P.O. Box 1045 454 Daniel Webster Highway Merrimack, New Hampshire 03054 http://www.certifiedcoins.com Ed Lee, Proprietor 1-800-835-6000 [EMAIL PROTECTED] Lone Star Silver Exchange Suite 635, 3521 Oak Lawn Ave. Dallas, Texas 75219 214-632-8869 http://www.discountsilverclub.com MRCS Canada 12303-118 Ave. NW Edmonton, Alberta T5L 2K2 Canada http://www.mrcscanada.com Michael Riedel, Proprietor 1-877-TRY-MRCS 1-877-879-6727 [EMAIL PROTECTED] Miles Franklin Ltd. 1001 Twelve Oaks Center Drive Suite 1028 Wayzata, MN 55391 1-800-822-8080 http://www.milesfranklin.com Contacts: David Schectman, Andy Schectman, and Bob Sichel Missouri Coin Co. 11742 Manchester Road St. Louis, MO 63131-4614 [EMAIL PROTECTED] 314-965-9797 1-800-280-9797 http://www.mocoin.com Resource Consultants Inc. 6139 South Rural Road Suite 103 Tempe, Arizona 85283-2929 Pat Gorman, Proprietor 1-800-494-4149, 480-820-5877 [EMAIL PROTECTED] http://www.buysilvernow.com Swiss America Trading Corp. 15018 North Tatum Blvd. Phoenix, Arizona 85032 http://www.swissamerica.com Dr. Fred I. Goldstein, Senior Broker 1-800-BUY-COIN [EMAIL PROTECTED] The Moneychanger Box 178 Westpoint, Tennessee 38486 http://www.the-moneychanger.com Franklin Sanders 1-888-218-9226, 931-766-6066 You are subscribed to the GATA Dispatch mailing list. You can instantly unsubscribe from these emails by clicking here. Copyright © 1999-2006 All rights reserved. -------------------------------------------------------------------------------- No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.5.432 / Virus Database: 268.17.29/673 - Release Date: 2/6/2007 5:52 PM