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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Crimson Ghost who wrote (2574)12/12/1998 9:59:00 PM
From: Zeev Hed  Read Replies (1) of 81091
 
George, I think that not only European banks are going to sell gold but other banks as well. With the EU coming on stream, banks will hold reserves consisting of the EU, $ and Yens (or an Asian olicurrency which will counter balance the dollar and EU in the future). Since the CB hold close to ten years of normal gold production, i would say that there is ample supply from that side. Producers are going to use rallies to $300 and maybe to 395 now to sell forward against their production, IMHO.

Zeev
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