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Gold/Mining/Energy : Gold Price Monitor

GDXJ 89.99

+2.8%

4:00 PM EST

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To: PaulM who wrote (39082)	8/16/1999 5:55:00 AM
From: Alex	Read Replies (1) of 116752

G10 central bankers reportedly criticise UK govt's gold sell-off LONDON (AFX) - Central bankers from other G10 countries have criticised the UK government's decision to sell gold reserves and warned that the move may force them to do the same, according to a report in the Financial Times newspaper citing central bank officials. The newspaper said representatives of the Bank of England have been approached by officials from other central banks in the G10 group of nations during talks in Basle, Switzerland, that the sale could cause instability in the gold market. The banks fear that further falls in the gold price could lead to wider debate about the value of holding gold as an asset compelling them to review their own reserve policies. rdw/ak For more information and to contact AFX: www.afxnews.com and www.afxpress.com ¸ Copyright 1999, The Nasdaq Stock Market, Inc. All Rights Reserved. nasdaq.co.uk

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