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To: John Hunt who wrote (35374)	6/15/1999 7:27:00 AM
From: long-gone	Respond to of 116759

<<IMF gold sales not ''done deal'' - WGC>> I'm shocked it got any press

To: John Hunt who wrote (35374)	6/15/1999 7:43:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116759

INTERVIEW-Anglogold sees gold fall overdone By Marius Bosch LONDON, June 15 - Gold will recover from its recent 20-year low prices because the bullion market over-reacted to Britain's decision to sell more than half of its gold reserves, the world's largest gold producer, Anglogold Ltd, said. Anglogold's executive marketing director Kelvin Williams said in an interview that the UK Treasury's announcement on May 7 that it would sell 415 tonnes of the country's 715 tonnes of gold reserves, had distorted the market for gold. "The market has been given an unique opportunity in the Bank of England publically announcing gold sales in advance... to speculate against that action. ''In a sense, the BoE sale in itself would be easily absorbed in this physical market. In the way they have announced it, they have introduced a distortion to the paper market and the result is that this huge speculative short against the gold price is a distortion and the market consequently is in a negative over-reaction,'' Williams said.(cont) biz.yahoo.com

To: John Hunt who wrote (35374)	6/15/1999 8:02:00 AM
From: lorne	Read Replies (3) \| Respond to of 116759

LBMA CHANGES RULES IN RESPONSE TO NEW UK REGULATION London--Jun 14--The London Bullion Market Association (LBMA) has set up a new rule book to include changes made in response to new UK financial regulation by the Financial Services Authority (FSA), Peter Fava, head of precious metals at HSBC Midland and chairman of the LBMA, told the FinancialTimesGoldConferencehere. (Story .17606) JP MORGAN: GOLD PRICE TO BE MUCH MORE VOLATILE WITHIN 5 YEARS London--Jun 14--The spot gold price is likely to become much more volatile, with a trading range as wide as $100-150 per ounce over the period of a few months possible within the next 5 years, according to Kevin Crisp, vice president and precious metals strategist at JP Morgan. Speaking at the Financial Times World Gold Conference underway here, Crisp stressedthatthepricefluctuations would be both up and down. (Story .1991 9) INDIA RBI ASKS STATE GOVTS TO SCRAP DUTIES ON GOLD DEPOSITS Mumbai--Jun 15--The Reserve Bank of India has asked state governments to scrap stamp duty on forward contracts in gold as well as octroi duty--or entry tax--on the precious metal to ensure that the federal government's gold depositscheme is a success, industry sources said today. (Story .12615) CANADA'S BARRICK: GOLD HEDGES NOT BASED ON NEGATIVE PRICE VIEW London--Jun 14--Canadian gold producer Barrick's forward sales are not a reflection of the company's negative price outlook and are inst ead struc tured purely to deliver dependable results to shareholders, Barrick senior vice president and chief financial officer Jamie Sokalsky told delegatesattheFinancial Times World Gold Conference today. (Story .20602) Morning John.