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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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To: Little Joe who wrote (21911)10/18/1998 2:45:00 PM
From: goldsnow  Read Replies (2) of 116764
 
Gold leasing. Central Banks, seeing their gold reserves as being non-performing assets, have been
earning some returns by leasing bullion to qualified institutions at very low rates. The borrowers then
sell the bullion, using the cash to purchase financial assets yielding higher returns than the cost of
borrowing the gold. And, like in the case of the Yen carry, they have made even more profit because
of the falling price of gold over the last couple of years. The only risk to the borrower is if the price
of gold were to rise sharply. Thought to be extremely unlikely. Until ?
chebucto.ns.ca
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