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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: PaulM who wrote (18888)	9/14/1998 11:47:00 PM
From: paul ross	Read Replies (1) of 116764

A couple things tick me off about this little piece " The world's central banks are expected to sell 260 tonnes of gold in the second half of the year..." The last time an ECB sold gold, I forget who it was, the gold was immediately purchased by another ECB. I believe it was stated before that any sales by an ECB would be purchased by France or Germany. Besides, the LBMA clears 260 tonnes of gold, approx. 7.8M ounces, in a couple hours work (LBMA clears 930 tonnes a day). "He noted that the Swiss National Bank, however, has approved the sale of 50 percent of its gold holdings, which can be expected to begin in 2000"... We've heard this over and over again and we know that the Swiss can't sell any gold unless it's approved in an election, whose chance of passage is virtually nil. "He noted that the U.S. is not expected to be a seller of gold, but the International Monetary fund is a potential seller."... I just posted an article yesterday that said the IMF can't sell any of its gold: #reply-5737169 Same anti-gold crap.

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