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To: John Hunt who wrote (40096)9/7/1999 10:56:00 AM
From: John Hunt  Read Replies (2) | Respond to of 116972
 
IMF proposes revaluing some gold instead of sale

<< The International Monetary Fund has proposed revaluing 10 million ounces of IMF gold reserves against market value, yielding $1.1 billion in net cash value, according to leaked details of the World Economic Outlook.

``This proposal replaces the previously agreed sale of a maximum 10 million ounces from the IMF's gold reserves,' according to a draft text of the World Economic Outlook, a copy of which was obtained by Reuters.

(Note: this article is ``in progress'; there will likely be an update soon.) >>

biz.yahoo.com