SAUDI GOLD PURCHASES REVEALED, EXPLAINS ROSLAND CAPITAL’S SENIOR ECONOMIC ADVISOR JEFFREY NICHOLS

NEW YORK (June 22, 2010) – Jeffrey Nichols, Senior Economic Advisor to Rosland Capital (www.roslandcapital.com), had the following commentary based on recent market activity and the week ahead:Gold prices continue to march higher, hitting a new all-time high near US$1265 this Monday morning in London trading before settling down to the $1250 to $1260 area.  Reportedly, the catalyst to higher gold prices was the revelation that Saudi Arabia's central bank, the Saudi Arabian Monetary Authority (SAMA) had made a sizable addition to its official gold holdings in early 2008 but only recently