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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.72

+0.7%

Jan 5 4:00 PM EST

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To: HairBall who wrote ()	6/14/2000 8:38:00 PM
From: Square_Dealings	Read Replies (1) of 99985

China buying gold I find it interesting that China is buying gold. I think they have been accumulating at these levels now that they've given up on trying to play QCOM news every other day. Can't someone recommend a good tech fund for them <g> ? ____________________________________________________________ From South Africa: nvestec<INTJ.J>says to sell gold to China c.bank JOHANNESBURG, June 14 (Reuters) - South African investment banker Investec Group said on Wednesday it had signed an agreement with the People's Bank of China to supply it with a minimum of 15 tonnes of gold a year for an unlimited period. "The agreement is for an unlimited period of time, providing for the supply of approximately one ton of pure gold every three weeks," Investec said in a statement. The gold consignment agreement was valued at $150 million and was signed on Tuesday, the statement said. The gold will be procured from the world's largest gold refiner Rand Refinery Ltd, which is owned by local gold companies. The head of Investec's International Banking Division, Helmut Bahrs, told Reuters in a phone call from China that there was potential for the amount of gold shipped to China to be increased. South Africa last year produced 450 tonnes of gold and the deal is the first to sell South African gold directly to China, a Rand Refinery spokesman said. 09:31 06-14-00 Copyright 2000 Reuters Limited.

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