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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: EyeDrMike who wrote (21913)	10/18/1998 3:47:00 PM
From: gmccon	Read Replies (1) of 116767

Russia may back rouble with gold and silver coins 03:00 p.m Oct 18, 1998 Eastern MOSCOW, Oct 18 (Reuters) - Russia is considering minting gold and silver coins from state reserves to back the rouble and help the government honor its crushing financial obligations, a senior official told NTV commercial television on Sunday. Dmitry Ignatyev, deputy head of the state precious metals reserve Gokhran, said the final stage of consultations between Gokhran and the central bank would take place on Monday and the plan could take effect next month. Central bank chairman Viktor Gerashchenko would determine whether or not the project goes ahead, but possible designs for the coins were already being discussed, he said. more: infoseek.com

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