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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: dospesos who wrote (1082)9/20/1998 10:37:00 AM
From: Zeev Hed  Read Replies (3) of 81693
 
Thomas: How have you been?

Re:gold is simply another floating exchange rate currency., I would go a step further and say that gold is "transitioning" from a "floating exchange rate currency" to a standard commodity. As such, the percentage of total output of gold going into "reserves" is declining (and I would not be surprised to find out that in the last few years some reserves have been "redeployed" as a commodity, namely used in industrial and jewelry applications).

Since in normal commodities, major lows are often accompanied by the closing of marginal producers, we may not see the low until we see a slightly bigger rush of such closing.

Zeev
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