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Gold/Mining/Energy : Gold Price Monitor

GDXJ 104.50

-2.0%

4:00 PM EST

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To: Bill Murphy who wrote (13018)	6/13/1998 1:13:00 PM
From: Henry Volquardsen	Read Replies (2) of 116798

Bill, I am fairly certain that it was not the Swiss National Bank but a Swiss commercial bank with a remarkably similar name ;) that could be the reason for some of the confusion. Said Swiss commercial bank is a big player in the gold markets and they are much more likely to have acted on behalf of a customer. On the subject of who the customer was, which is really the important issue, I believe we are probably closer. The initial reports were that it was being purchased by a central bank. The only central banks that have been buyers in recent years have been Asian. I don't believe it is Japan the I have no hard evidence to support that view. There is only one other likely suspect. Henry

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