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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Zardoz who wrote (24901)	12/24/1998 8:38:00 PM
From: goldsnow	Read Replies (1) of 116759

Merry Christmas and Happy New Year to you 24 December 1998 Europe's biggest bank puts a little glister into staff stockings William Hall Financial Times ZURICH - UBS, Europe's biggest bank, is going to give each of its 30 000 domestic staff three gold bars for Christmas, proving that the gnomes of Zurich still love that which glisters, despite the government's plans to sever the Swiss Franc's link to gold. Admittedly, they are only minigold bars. The biggest weighs 20g, the others 5g each and they are worth Sf400 in total, compared with the Sf13 300 cost of a regular Swiss gold bar. But it is the thought that counts. UBS's decision to hand out Sf12m of its gold reserves to domestic staff as thanks for their hard work follows a particularly difficult first year since the announcement of its merger with Swiss Bank Corporation. It lost more money than expected through imprudent investment in equity derivatives plus, as a result, its chairman. Gold enthusiasts the world over may take some heart from the gesture bday.co.za

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