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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

4:00 PM EST

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To: Don Green who wrote (24929)	12/27/1998 12:37:00 PM
From: goldsnow	Read Replies (2) of 116762

"INDIAN INNOVATION: India is the world's number one gold importing country, with the U.S. a distant second. The state-run Unit Trust of India, that country's largest mutual fund, has tentative plans to implement a gold deposit scheme. The aim is to tap India's vast reserves of gold in private hands by accepting gold as deposit and as collateral to lend funds, according to Ravi Vasantraj, vice president at Mecklai Financial and Commercial Services Ltd. Such a scheme will encourage Indian consumers to buy the yellow metal as buyers will be able to effectively earn interest on their gold from the Unit Trust of India. " goldminingoutlook.com

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