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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (39823)	8/31/1999 11:20:00 AM
From: Edmund Lee	Respond to of 116972

[B] BRIDGE UPDATE--PRECIOUS METALS: Official sees China's gold reserves too Aug 31--0735 GMT/1635 JT ................................................................. TOP STORIES: GOLD BUREAU OFFICIAL SAYS CHINA'S GOLD RESERVES ARE TOO LOW Shenzhen--Aug 31--China's gold reserves are too low in relation to its population of approximately 1.3 billion and its forex reserves of US $146 billion, deputy director of the Gold Bureau under the State Economic and Trade Commission, Ai Da Cheng, told Bridge News today. He said China's gold reserves of 394 tonnes could rise to at least 1,000 tonnes. Gold currently accounts for just 2.3% of the country's total reserves, he said. ( Story .10677 ) PBOC OFFICIAL SAYS CHINA IS PREPARING TO OPEN SILVER MARKET Shenzhen--Aug 31--China is currently preparing to open its silver market, Pan Jun, deputy director of the silver, gold and currency department of the People's Bank of China ( PBOC ) told Bridge News today, though he didn't give a timetable for the move. He said the government will allow physical silver trade in the domestic market but not futures trade. ( Story .10648 )