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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.93+0.8%Jan 9 4:00 PM EST
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To: long-gone who wrote (94473)4/9/2003 1:43:45 PM
From: goldsheet  Read Replies (1) of 116845
 
<Are the bulk of investors also beginning to believe that some
portion of their wealth should be diversified into precious metals? >

Apparently NOT the really big investors:

With as much as 50,000 tonnes of gold -- enough to satisfy global demand for more than a decade -- sitting in central bank vaults, World Gold Council Chief Executive James Burton said most banks still see value in gold as a reserve asset.

However, convincing private institutions to buy gold is more of a challenge, he said.

In his former job as head of the California Public Employees Retirement System, with assets of $140 billion, Burton said gold investment was "never considered."

"It was not on our radar screen," Burton said.
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