Italy's government opens up gold market in line with EU rules
Rome--Jan 25--Italy's government is to open up the gold market to banks and
other authorized intermediaries, ending the monopoly of the public exchange
office Ufficio Italiano dei Cambi (UIC), in line with 1998
European Union legislation, according to the Official Gazette, published
Friday. Under Italian rules, laws come into effect 15 days from publication in
the Gazette. (Story .20823)
ECB: Gold reserves fall on week on gold sale, FX up slightly
Frankfurt--Jan 25--Foreign currency assets registered by the European
central bank system reached 250.6 billion euros on Jan 21, up 100 million euros
from Jan 14, the ECB said Tuesday in its weekly financial statement. In
addition, total gold assets were down 208 million euros at 116.304 billion
euros.
The gold change was due to a 23-tonne sale by a central bank and consistent
with the Sep 26, 1999 Central Bank Gold Agreement, the ECB said. (Story .782)
Canada Nov gold total output -8.11% from Oct; -1.07% from yr ago
Toronto--Jan 25--Canada's total gold production fell 1.07% in November from
the same month in 1998 to 12.338 million ounces, Natural Resources Canada said
Tuesday. For the Jan-Nov period, total gold production was down 2.78% to 146.139
million ounces. However, primary silver production was up 18.21% from the
previous year with November production at 96,224 kilograms. (Story .2176)
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