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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)
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To: Michael Markham who wrote (115)10/28/1997 1:38:00 PM
From: Steve Johnston   of 350
 
My own view is that a lot of Asia Pacific investors ran into margin problems in their equity accounts and those who held gold positions were forced to sell, in a hurry, creating a big imbalance between buyers and sellers. The news from Switzerland didn't help either but, to keep things in perspective, what they plan to sell is only 50,000,000 ounces over 3-4 years, when the yearly demand for gold is 1.8 billion ounces. No need to panic, IMHO.
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