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Gold/Mining/Energy : Euro Impact on Gold, USD ...
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To: banco$ who wrote (35)9/30/1998 9:25:00 PM
From: banco$  Read Replies (2) of 289
 
ECB gold comment via The Contrarian, William Fleckenstein 9/30:

"Golden development... Moving on to the gold market, the Belgian National Bank, governing council member of the ECB (European Central Bank), said "The bank has no need or desire to sell gold in the future to satisfy reserve restructuring." The "in the future" part of the phrase is interesting because in the past the ECB commentary hasn't
mentioned this. Another bullish development for gold."

It would be appreciated if the council member stopped at "in the future" instead of tailoring the comment to fall within reserve restructuring. The option seems to be available for using gold reserves to satisfy other conditions or needs, present or future. Still, we welcome the ECB issuance of a positive statement on gold reserves.
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