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Gold/Mining/Energy : Gold Price Monitor

GDXJ 136.03

+6.2%

4:00 PM EST

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To: Square_Dealings who wrote (79570)	11/25/2001 6:03:45 PM
From: Box-By-The-Riviera™	Read Replies (1) of 116894

can't find all the posts/references... but currently: the ecb/euro is backed by approximately 15% in gold reserves. this was remarked upon recently by the head of the ECB.... in the last ten days or so. many cb's of member states will have large reserves even after the final hard launch of the euro Jan 1st. the germans thus far plan to keep their reserves in place and, if i remember correctly, would require a national vote to do otherwise... (can't find the article on that) From the lingering issues of maintaining sovereign identities of the EC member states, I would imagine there will be no great effort made in the near term to dump these reserves for some quick windfall to gov budgets. the gold sale agreements ending in 2004 however, might be sign, vis a vis, the nogiations on renewal, whether or not this will stay true.

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