Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: E. Charters who wrote (44944)	1/19/2004 3:15:50 AM
From: maceng2	of 74559

Austria's Liebscher confident on new gold deal -FT Sun January 18, 2004 07:11 PM ET [why dont they just agree to sell the lot and have done with it . Ho Ho Ho ...pb] reuters.com LONDON, Jan 19 (Reuters) - Austrian central bank governor Klaus Liebscher is "very optimistic" that Europe's central banks can renew a five-year agreement that puts restrictions on how much gold they can sell, the Financial Times reported. "It is wise to renew the pact...and many of my colleagues see it that way," said Liebscher in an interview with the FT. The report added he was confident that a new deal would have been negotiated "by the spring." The current five-year agreement among 15 European central banks limits total gold sales to 400 tonnes annually. It expires in September. The agreement was designed to make government sales more predictable and restore market confidence after years of worry about central banks selling gold helped push gold prices to a 20-year low in August 1999. Analysts told Reuters earlier this month that they expected the agreement to be renewed at a slightly higher level in the second quarter of 2004, and the FT said the new agreement could lift the limit to more than 450 tonnes. Central banks such as the Bundesbank have indicated they would like to sell gold again under a new deal. European Central Bank Governing Council member Nout Wellink told Reuters in October that the signatories of the agreement aimed to craft a new deal early in 2004.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next