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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.01

+2.8%

Nov 5 4:00 PM EST

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To: goldsnow who wrote (23384)	11/25/1998 2:16:00 PM
From: Alex	Read Replies (5) of 116752

11/25/98 - FEDERATION COUNCIL IS TO LET CENTRAL BANK BUY PRECIOUS STONES DIRECTLY FROM MINING COMPANIES. <Picture> ST.PETERSBURG, RUSSIA. The Federation Council submitted a corresponding bill to the State Duma. According to the current law, the Central Bank may purchase gold from Gohran and private banks. Gohran is the only state organization entitled to purchase gold directly from gold- miners. Authors of the bill believe that if Central Bank starts purchasing gold from gold miners, the latter will get better financing. Authors of the bill claim CB is planning to purchase over 25 tons of gold this year.

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