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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.28

+3.8%

Nov 28 4:00 PM EST

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To: Rarebird who wrote (40965)	9/27/1999 3:52:00 AM
From: baystock	Read Replies (1) of 116790

IMO the gold bull market has started because of the joint announcement this weekend by the European Central Banks. Maybe we will have a limit up day tomorrow in New York: 1. Gold will remain an important element of global monetary reserves. 2. The above institutions will not enter the market as sellers, with the exception of already decided sales. 3. The gold sales already decided will be achieved through a concerted programme of sales over the next five years. Annual sales will not exceed approximately 400 tons and total sales over this period will not exceed 2,000 tons. 4. The signatories to this agreement have agreed not to expand their gold leasings and their use of gold futures and options over this period. 5. This agreement will be reviewed after five years. marketwatch.newsalert.com

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