MKS Finance SA - Geneva Monday, 11-December-2006 Gold lost ground during the access and CBOT trading to open twodollars below Friday’s closing price on Tocom. Spot then gradually softenedfurther as US dollar strengthened and prompted selling, bringing us down to$623.60.

MKS Finance SA - Geneva Friday, 8-December-2006 Gold had a very dull Tocom session as well as the early Europeanhours. Prices remained bounded within a four dollar range in a very quiettwo-way trading. The yellow metal fixed at $630.90 on the first London fix,only 40 cents above the one of yesterday.

MKS Finance SA - Geneva Thursday, 7-December-2006 After extending the low into the NY close last night, gold continuedits way on the downside. Selling pressure on CBOT and access forced theprices to retreat down to $628 levels before bouncing back slightly priorto Tocom opening. Asian trading was once again dominated by the liquidationof platinum by funds, which dragged the yellow metal to the low of $627.80.Platinum slid around 19 dollars during the Far East session, not allowinggold to regain the $630 level.

MKS Finance SA - Geneva Wednesday, 6-December-2006 Once again gold was pressured by long liquidation in platinum. Theyellow metal opened two dollars below Tuesday’s NY closing price on Tocomand was sold down to $638.80. During the European hours the downsidepersisted.

MKS Finance SA - Geneva Tuesday, 5-December-2006 It was a choppy and volatile day for gold. It opened around Monday’sNY closing price in Asia to jump over a dollar in the early Tocom hours.The market was capped at $647 levels by decent selling, but remainedhovering on the top side for the morning session.

MKS Finance SA - Geneva Monday, 4-December-2006 We commence trade in london for the week with almost the excitement of the dreary winter weather outside the window. Topics this week are: A) falling of Snow (USD) B) the purchasing of a New Winter Jacket (SILVER) C) Ski crash helmet. (Further demand stability)

MKS Finance SA - Geneva Thursday, 30-November-2006 Is the beast barking or biting?In last 24 hours, we have seen the metals stabilize relatively quickly, after the mini sell-off during Asia time zone. Whilst the global metals equity markets have continued to rebound, the PGMS have also picked up again. The gold ran up $10 to $649/oz breaking key resistance at $640/oz. Silver climbed 40 cents to $14/oz.

para oroyfinanzas por cortesía de E. B. Orlandini DOW THEORY ANALYSIS SACwww.dowtheoryanalysis.com Noviembre, 2006Este es mi quinto informe y probablemente sea el último para el 2006. Por decir lo mínimo ha sido un año interesante. No llegamos a tocar los US $1,000/onza como muchos proyectaron y no retrocedimos por debajo de los US $400/onza como otros anticiparon. A lo que no logramos obtener fue un buen progreso hacia el alza, con una excepción, un buen salto hacia la máxima de US $730.40 el 11 de Mayo. Ese salto, el cual fue placentero de observar, podría haber sido más pernicioso que bueno para la psique del inversionista promedio. Se creó una atmósfera de “exuberancia irracional”, si puedo tomar prestada la frase del más grande alquimista que el mundo haya conocido, Alan Greenspan. Desde el estallido el 7 de Marzo hacia el alza hasta el tope el 11 de Mayo, cada día fue un feriado para los fanáticos del oro.

MKS Finance SA - Geneva Wednesday, 29-November-2006 Gold traded higher on access as a sharp rally in euro helped it toacquire gains. The put on could not be sustained though and the metalopened slightly weaker on Tocom. The Asian session was very quiet with theprices gradually drifting lower after the $640 level failed to hold.

MKS Finance SA - Geneva Tuesday, 28-November-2006 Gold opened slightly higher on Tocom compared to the NY close lastnight, but selling on access and CBOT put a downside pressure and the metalretreated to $638.50. The prices failed to regain the $641 levels seen inthe early Asian hours. In Europe spot at first lost further ground andfixed at $637.75 on the first London fixing, up only 25 cents fromyesterday’s AM fix.