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Gold/Mining/Energy : Gold Price Monitor
GDXJ 114.62+1.2%Dec 17 4:00 PM EST
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To: pater tenebrarum who wrote (55991)7/10/2000 9:45:53 AM
From: Enigma  Read Replies (2) of 116815
 
Washington Agreement (con't). In the past there were years in which the CBs were net buyers of gold. The Washington Agreement ensures that for the next 5 years the 15 banks will be net sellers - so in effect, deficits have been institutionalised. That is why the Agreement is negative for gold. I don't buy the argument that the market likes certainty - now we have certainty without hope.
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