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Strategies & Market Trends : YellowLegalPad

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From: John McCarthy	2/17/2006 8:06:52 AM
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DEZ Amount of gold bullion Germany holds .. at 12/2005 BUNDESBANK Gold has been on a run higher since late last year as Middle East tensions and worries over firm oil and the dollar spurred fund buying. Profit-taking had pared gains, but analyst say the metal will rebound to set new highs. "News of the German government abandoning special plans of potential gold sales to finance research and education programmes will be supportive for gold, and likely give the current market a boost," Standard Bank said in a daily report. The German government dropped plans to change rules governing any sale of gold from the Bundesbank's reserves under a compromise deal announced on Thursday. The central bank held 3,427.8 tonnes of gold at the end of last year, worth more than $60 billion. In other markets, Tokyo gold futures rose more than 1.5 percent on short covering following the sharp recovery in New York, but they were vulnerable to technical sales following recent steep losses. investor.ninemsn.com.au

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