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To: goldsnow who wrote (39597)	8/31/1999 3:17:00 AM
From: Alex	Read Replies (1) \| Respond to of 116811

8/30/99 - Gold Regaining Its Glitter? <Picture> Harare (The Insider, August 30, 1999) - Gold is slowly regaining its glitter following news that the International Monetary Fund may not sell the 10 million ounces it intended to, to fund debt relief for 41 of the world"s poorest countries. The IMF is bringing up the issue for approval by members next month but the proposal needs an 85 percent approval to go ahead. The United States alone has more than 17 percent of the vote and its congress is against the move, not because of the impact it will have on the gold producing countries but because it does not believe these countries should be bailed out. According to reports from South Africa, one of the biggest producers of gold in the world, 36 of the Countries which the IMF intends to help are gold producers. The price of gold has plunged to its lowest levels in decades following the announcement by the IMF of its intention to sell one- tenth of its gold reserves. The news came at the very time the United Kingdom and Switzerland are also disposing of their gold reserves. But some market analysts have argued that it is not the sale of gold reserves that have triggered the decline in price but some hedge funds that are trying to make money. In South Africa, reports say, up to 80 000 employees may be retrenched if the price of gold does not improve. By Staff Writer Copyright 1999 The Insider. Distributed via Africa News Online.

To: goldsnow who wrote (39597)	8/31/1999 7:03:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116811

And there goes the US stock market(and with it the economy?): Tuesday August 31, 12:22 am Eastern Time POLL-Japan investors plan shift from U.S. stocks By Akiko Ishiwata TOKYO, Aug 31 (Reuters) - Japanese financial institutions plan to shift funds away from U.S. stocks and boost their weighting in Japanese and other Asian equities next month amid expectations of further dollar weakness, a Reuters survey shows. The monthly Global Asset Allocation survey asked 11 Japan-based financial institutions in late August about their investment strategy... biz.yahoo.com