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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.30

-0.5%

Dec 12 4:00 PM EST

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To: d:oug who wrote (52297)	5/3/2000 10:25:00 PM
From: lorne	of 116814

Newmont Mining chairman says Swiss gold sales "responsible" Lima--May 3--The gold sales program begun this week by the Swiss National Bank (SNB) is "responsible" and aimed at making the country more competitive in light of the strength of the Swiss currency, said Ronald Cambre, chairman and chief executive officer of Denver-based Newmont Mining Corporation. He said that at current prices, gold is a bad investment for shareholders. (Story .22767) S Africa DRD cuts gold hedge book, but says won't abandon policy Johannesburg--May 3--South African gold mining company Durban Roodepoort Deep Ltd (DRD) has reduced its hedge book by a further 620,000 ounces in the wake of this year's gold price volatility, but the group has made it clear that this does not spell an end to its hedging policy. (Story .16675) Canada international reserves-OVERVIEW Ottawa--May 3--Canada's international reserves fell US$677 million in April to US$30.430 billion, the Finance Department said Wednesday. Reserves a year earlier totaled US$25.317 billion. Canada did not intervene in the forex market during the month, but other official operations increased reserves by $96 million. Gold holdings fell by 80,000 ounces as forward sales settled during April. (Story .4821) crbindex.com

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