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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (7663)	9/5/1999 11:00:00 AM
From: Enigma	Read Replies (1) \| Respond to of 81259

But the bears are wrong of course - you don't have to be a bull or 'goldbug' to understand that - they are wrong because gold is overwhelmingly the largest reserve asset. And I have never bought into the idea that the CBs are trying to get rid of their gold - some of the weak sisters have been sellers but they are in the very small minority - bit players really - the only exception being the B of E - and they are playing a dicey game IMO and time will tell. The IMF sales seem to be off and the Swiss - who knows? The spotlight is on them now. But if you look at the big picture you don't see evidence of a mass exodus from gold. But why let the facts get in the way of an opinion?

To: Crimson Ghost who wrote (7663)	9/5/1999 11:06:00 AM
From: goldsheet	Respond to of 81259

> But if gold indeed now is jsut another commodity to them, then they > should have no problem with production cuts This is probably true for everyone except Barrick. They know they are going to get $375 for the next 13 million ounces. They have reduced cash costs from $182 in 1997 to $160 in 1998 and have a target of $125 for 1999. Production has gone from 700,000 ounces per quarter to over 1 million ounces, which reduces total costs per ounce (spreads fixed costs over more ounces) They are going to have a lot of cash on the balance sheet in the next few years - wonder who they will buy ?