Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: E. Charters who wrote (83717)	3/25/2002 8:16:38 AM
From: long-gone	Read Replies (2) of 116763

To me it sounds as though the goal of the German Central Bank is higher share price & they don't care what it takes to get to a higher stock market sell gold or buy the german Blue Chips. Bundesbank may sell some gold reserves Sapa-AFP March 25 2002 at 10:30AM Frankfurt - The Bundesbank is considering selling a small part of its vast gold reserves for shares, the German central bank's president Ernst Welteke said in a newspaper interview published on Monday. "We must consider in the medium term if we can't convert some of our gold - small volume and without pressurising the market - into securities," Welteke told the daily Frankfurter Allgemeine Zeitung. The bank was thinking not only of bonds, but "on a share deposit with a good mixture of blue-chip shares and shares listed on the Euro-stoxx-50," he said. The aim of such a move would be to manage the bank's portfolio of gold and currency reserves more efficiently in the future, he said. The Bundesbank has roughly 3,500 tonnes of gold worth some 35 billion euros and a further 50 billion euros in foreign currency reserves, the newspaper said. Separately, Welteke said that the European Central Bank (ECB) was likely to pursue its current wait-and-see stance on interest rates for some time. As head of the German central bank, Welteke sits on the ECB's governing council, the body responsible for setting euro-zone interest rates. The ECB could "pursue its steady-hand policy on rates for the foreseeable future," Welteke told the newspaper. - Sapa-AFP businessreport.co.za

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next