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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: goldsnow who wrote (21912)	10/18/1998 3:32:00 PM
From: EyeDrMike	Read Replies (2) of 116764

<< 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. >> How can a borrower sell something he has leased?

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