** CHEUVREUX ON GOLD **

We came across a very interesting report from Paul Mylchreest from French brokerage house CA Cheuvreux that does a good job at summing up the gold bugs case for this precious metal. In a nut shell Mylchreest reasons why central banks have considerably less gold than their officially reported reserves and shows that there is a considerable supply deficit in the gold market. Cheuvreux ups its mid-cycle gold target to $900 and sees the possiblity of a spike to $2000. Read the full report here.