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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

4:00 PM EST

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To: long-gone who wrote (22110)	10/22/1998 9:15:00 PM
From: goldsnow	Read Replies (4) of 116825

Complaining about what Gvn? Here is an example of blatant activities, not in Gold but same nevertheless... Reserves slip to US$88.4b PETER CHAN Hong Kong's foreign reserves declined slightly in September to US$88.4 billion from $92.1 billion in the previous month, still the third-largest in the world after Japan and the mainland. A Hong Kong Monetary Authority spokesman said the decline was primarily due to execution of orders to sell $4.4 billion on August 28 and 31 which were settled on September 1 and 2. The sale was to generate funds to finance the SAR Government's intervention in the local stock and futures markets in an effort to counteract "multilateral, cross-markets" manipulation by hedge funds. After adjusting for these foreign-exchange transactions, September's foreign reserve balance should be $6 billion higher than August's adjusted figure of $87.6 billion. The spokesman said the increase represented investment gains. As of the end of September, the Exchange Fund balance stood at $69.3 billion, down from August's $73.4 billion. The Land Fund balance was $19.1 billion, up from $18.7 billion the previous month. scmp.com

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