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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Greg Ford who wrote (8570)	3/21/1998 4:43:00 PM
From: goldsnow	Read Replies (1) of 116759

BoI's Fazio sees large role for gold in ECB 02:06 p.m Mar 21, 1998 Eastern YORK, England, March 21 (Reuters) - Bank of Italy Governor Antonio Fazio said on Saturday that gold's share in the reserves of the European Central Bank could be the same or higher than its role in Italian reserves. ''A part of the (ECB) reserves will be in gold,'' Fazio said. ''This share could be in proportion or even a little bit higher than in our (reserves).'' Italy is one of the largest official holders of gold in the European Union. Gold presently accounts for around 30 percent of its reserves. Fazio was speaking at the end of a two-day meeting of European Union finance ministers and central bankers in this northern English town. ^MORE@

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