William Resources - WIM-TSE Message Board

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Gold/Mining/Energy : William Resources - WIM-TSE

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To: David M. Lomow who wrote (958)	2/27/1998 3:49:00 PM
From: gennady	of 1326

All: Some very important news with respect to gold has just come down the pipe. Apparently the Bank of Belgium has just failed to renew a lease of around 3.1 million ounces of gold. This is what has caused the pressure on the lease rates and the subsequent rally in prices. The likely reasons for the end of leasing are one of two. Either they have already sold the metal and it has been absorbed by the market or they have been given the word by the Bundesbank that the gold game is changing. Each of these conditions is positive for the metal going forward. Rumor in the market had been that the first quarter of 1998 was going to see some final sales before the EMU gold window came down. Perhaps we have just seen the window snapping shut. If this is the case, then the entire short thesis, namely unlimited central bank supply will be called into question.

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