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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Bob Dobbs who wrote (26952)	1/24/1999 9:21:00 PM
From: lorne	Read Replies (1) of 116764

Hello Bob, could I get your opinion on something. Most all CBs have reserves, they could be US$,Yen,Euro's or Gold. Would I be correct in assuming the the reason they have these reserves is to protect their currencies and economies. The EU has decided they would have at least 15% of their reserves in gold so it would seem that they consider gold to be money so why should they fear a higher value of one of the monies they hold in reserve in this case gold, why wouldn't a higher value of gold increase the value and strength of their own currency. How long before the US annuonces some backing of the dollar with gold?

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