Documenting the biggest one-day gold price plunge since 1993:
Canadian Gold Shares Plunge On UK Plans
Friday May 7 10:42 AM ET
TORONTO (Reuters) ...
Trader Rolie Bradley at Maison Placements Canada Inc. said he believes that while the British sale news was something of a surprise, gold's lack of popularity with industrialized nations' governments and central banks has been long factored into the market.
''All this is in the market,'' Bradley said.
''It's a blow but I think you may find that the price of gold may actually come back to where it was in a few days, primarily because we're starting to get a little antsy about the possibility of rising inflation in North America.''
dailynews.yahoo.com
Gold Falls as U.K. Announces Plans to Sell More Than Half of Its Reserves
By Mark Deen, Dudley White
Fri, 07 May 1999, 10:41am EDT
London, May 7 (Bloomberg) -- Gold dropped more than 3 percent, its largest one-day decline since 1993. ...
bloomberg.com
Gold stocks plunge on U.K. sales
Battle Mountain, Ashanti reel as gold falls $7.20
Last Update: 10:39 AM ET May 7, 1999
cbs.marketwatch.com
Gold Futures Drop as U.K. Unveils Plans to Sell 60% of Its Gold
The Wall Street Journal Interactive Edition May 7, 1999
Move Seen Hurting South African Miners
The U.K. Treasury's decision to sell almost 60% of its gold reserves in the medium term is the latest setback to South Africa's diminished gold industry, still the biggest in the world. ...
interactive.wsj.com |
