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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.60

+2.2%

Dec 26 4:00 PM EST

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To: long-gone who wrote (25610)	1/7/1999 5:56:00 PM
From: lorne	Read Replies (1) of 116834

NY Precious Metals Review: Gold, silver up on option expiry. In the news today, the European Central Bank said at its monthly meeting that the 15% quota set for gold holdings as a part of total monetary reserves was for the initial transfer from national central banks only. "The 15% was not a structural decision...It has no consequence on the structure of reserves in the future nor does it have any consequence on the total percentage of gold holdings of the ECB system including gold on national central banks' balance sheets," ECB vice-president Christian Noyer said. ECB President Wim Duisenberg added that the 15% gold reserves quota would be left unchanged for the "longer foreseeable future." crbindex.com

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