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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Rarebird who wrote (33579)	5/10/1999 2:24:00 PM
From: Alex	Read Replies (1) of 116788

Gold will continue to be an important reserve asset - Tietmeyer Basel, Switzerland (Sapa-AFP) - Gold will continue to be an important reserve asset, and no G10 central bank other than the Bank of England is preparing to sell gold, Bundesbank president Hans Tietmeyer said on Monday after a meeting of G10 central bank governors. Tietmeyer said: "We are all of the opinion that gold will remain an important reserve asset for central banks in the future." Tietmeyer said that the governors had noted the announcement by Britain on Friday that it would sell more than half of its reserves of gold, but none of the other central banks had indicated that they intended to sell gold. On Friday, Britain said that from July it would sell about 415 tonnes of gold and that 125 tonnes, or three percent of its total gold and currency reserves, would be sold by auction in 1999 and 2000. from E-data barney.co.za

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