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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.74

-0.9%

Jan 21 4:00 PM EST

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To: sea_urchin who wrote (36208)	7/1/1999 3:31:00 AM
From: Alex	Read Replies (1) of 116898

Late rush to stop gold sales BY PAUL ARMSTRONG Links THE World Gold Council has launched an eleventh-hour attempt to overturn the Government's plans to sell the bulk of its gold inventory, taking out advertisements in national newspapers. The campaign is designed to rustle up public opposition to the Treasury's initial gold auction, planned for next Tuesday. The Treasury declined to comment on the council's action. Gary Mead, head of research at the council, said the advertisements resulted in the lobby group's phone lines being jammed with "thousands" of callers opposed to the sale. The council is the trade body of, and funded by, gold mining companies around the world. The advertisements' readers are invited to put their names on an attached form, headed "I think we should hold on to our gold", and post it to Gordon Brown, the Chancellor. Mr Mead said the value of the Government's gold reserves had fallen by about £400 million since it announced on May 7 that it would sell 715 tonnes through a series of auctions. WEBSITE: www.hm-treasury.gov.uk © Times Newspapers Limited

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