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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: Bobby Yellin who wrote (7112)2/2/1998 11:16:00 AM
From: Ron Everest  Read Replies (1) of 116764
 
Here is another article from today's GM re Monk and Sovereign sales of AU:

Globe says Bank of France doesn't plan to sell gold holdings

Barrick Gold Corp ABX
Shares issued 372,817,172 Jan 30 close $28.35
Mon 2 Feb 98 In the News
The Globe and Mail reports in its Monday, February 2, edition that Barrick
Gold chairman Peter Munk got part of what he wanted from his weekend
appearance at the World Economic Forum when he drew a reassurance from the
governor of the Bank of France that the world's third largest holder of
gold doesn't plan to sell any of its holdings. The Globe's Alan Freeman
writes that bank governor Jean-Claude Trichet said he has no intention of
selling any gold. He also said he understands that Germany and Italy don't
plan any gold sales either. Mr Munk, who has been campaigning for central
bankers to reaffirm their faith in gold, argued that the main factor in the
slide in the price of gold has been investors' concerns about whether
central banks were about to dump part of their huge gold reserves on the
market. Mr Munk said that by not speaking out in defence of gold, central
bankers are allowing speculators to push down the price of gold even though
there is no justification for a lower price, purely on the basis of supply
and demand.
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