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Gold/Mining/Energy : Gold Price Monitor

GDXJ 118.97

-0.9%

Dec 24 4:00 PM EST

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To: Alex who wrote (16777)	8/28/1998 1:23:00 AM
From: Sergio R. Mejia	Read Replies (2) of 116823

Hi Alex: Russia May Mint Gold Rubles Thursday August 27, 10:25 pm Eastern Time Report: Russia May Mint Gold Rubles MOSCOW (AP) -- Russia's Central Bank is considering minting a batch of gold coins worth a total of $127 million in an attempt to help restore confidence in the ruble, a news report said Thursday. The Association of Russian banks, which proposed the idea, has already secured support from members of the government and both houses of parliament, Dmitry Ignatyev, a department head with the association, told the Interfax news agency. If the Central Bank agrees, the coins would be in circulation within two weeks, Ignatyev said. The value of individual coins would be set by the Central Bank. The Central Bank has suspended all currency trading since Tuesday amid the latest economic crisis, as confidence in the ruble has nose-dived.

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