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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: long-gone who wrote (46099)	12/17/1999 5:27:00 PM
From: Alex	Read Replies (1) of 116836

IMF says sold 7 mln ounces of gold to Brazil under HIPC initiative WASHINGTON (AFX) - The IMF said it completed its first off-market sale of gold under the Highly Indebted Poor countries initiative, transferring "slightly more than" 7 mln ounces of gold to Brazil on Tuesday then accepting it back as payment for an obligation due on that day. The IMF said that the next sale, of about 655,000 ounces, will take place today. It did not say who the counterparty will be in the operation. The Fund said the total income from the Brazilian operation was about 1.450 bln SDRs, or approximately 1.99 bln usd. It said it retained about 250 mln SDRs and invested the remaining 1.2 bln with the Bank for International Settlements to generate income for the HIPC initiative. al/ng N For more information and to contact AFX: www.afxnews.com and www.afxpress.com ¸ Copyright 1999, The Nasdaq Stock Market, Inc. All Rights Reserved. Please read our Disclaimer, Trademarks, and Data Protection Statement. nasdaq.co.uk

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