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Gold/Mining/Energy : Gold Price Monitor

GDXJ 142.09

+5.5%

Jan 22 4:00 PM EST

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To: Alex who wrote (30291)	3/18/1999 7:44:00 PM
From: The Ox	Read Replies (1) of 116903

I think this passage should be highlighted for the thread: In 1995, the Executive Board reviewed the role of gold in the IMF. Taking into account the above considerations, the Board reached broad agreement that the IMF's policy on gold should be governed by the following principles: Gold provides a fundamental strength to the IMF's balance sheet.... A sale of gold by the IMF must not weaken its financial position and, if possible, should strengthen it. In practice, therefore, the capital profits of any sale of gold should be retained; only the income deriving from the investment of those profits should be used for any current operations that might be agreed upon.

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