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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (908)	11/2/2001 4:00:56 PM
From: craig crawford	Read Replies (1) of 1643

Corrected - Tonnes of gold, silver buried below WTC recovered biz.yahoo.com Thursday November 1, 9:34 am Eastern Time NEW YORK, Oct 31 (Reuters) - Some $230 million in gold and silver buried beneath the World Trade Center since the Sept. 11 attacks that destroyed the financial district landmark has been found and is being relocated, the custodian for the metals said on Wednesday. ``We are relocating contents of a vault and the reason that we're moving the contents now is because authorities need to demolish the building,'' said Pam Agnew, spokeswoman for Canada's Bank of Nova Scotia (Toronto:BNS.TO - news), the parent of bullion dealer and depository ScotiaMocatta. The bank declined to elaborate for security reasons, but said it was was working closely with authorities to ensure a ``safe and secure relocation effort'' for the underground hoard, estimated to be worth at least $230 million. The disaster prevented access to 12 tonnes of gold and almost 30 million ounces of silver that were stored in the facility on behalf of the COMEX metals trading division of the New York Mercantile Exchange. The metal was used to guaranty delivery against futures contracts traded at the COMEX. It is believed that other valuables were kept in the vaults, but there was no information on whether additional precious metals, jewels or securities might have been recovered or lost in the disaster. The Daily News reported Wednesday that emergency crews in lower Manhattan found the gold on Tuesday. Workers loaded at least two Brink's armored trucks with metal that had been out of reach since the September 11 hijacked plane attacks which brought down the Twin Towers, the paper said. At an afternoon news conference on Wednesday, New York City Mayor Rudolph Giuliani confirmed that Brink's Inc. armored cars were at the location and that ``most'' of the estimated $200 million in gold had been found. Brink's did not return calls for comment. The Daily News said that a small army of heavily armed federal agent stood guard as city policemen and firefighters packed the trucks

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