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

To: Rarebird who wrote (40122)	9/8/1999 9:14:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116795

Bear Market in Bonds: A Leading Indicator for Stocks? fyii.net

To: Rarebird who wrote (40122)	9/8/1999 12:07:00 PM
From: Alex	Read Replies (2) \| Respond to of 116795

Central banker: Swiss gold sale will go ahead <Picture> ZURICH, Switzerland, Sep 08, 1999 (AP Worldstream via COMTEX) -- Switzerland will go ahead with its plan to sell off surplus gold in spite of fears that sales could hurt poor countries that produce the metal, the vice president of the Swiss National Bank said in an interview published Wednesday. The government plans to use 1,300 tons of gold -- half of the central bank"s 2,600 tons of reserves -- to underpin the Swiss franc, and has designated the other half as surplus. ""Producers such as South Africa would of course prefer that we rescind our program,"" Jean-Pierre Roth was quoted as saying in an interview in the newspaper HandelsZeitung. But the sale is sensible, he insisted, noting that the central bank has taken into account the potential effect on the market and has always emphasized it would sell only a little at a time over a period of years. ""It"s not in our interest for the price to fall into the basement,"" Roth said. In April, Swiss voters approved a new-look constitution which ended the traditional requirement for the Swiss franc to be backed by gold. Britain and the International Monetary Fund also are moving to sell off part of their gold reserves. Copyright 1999 Associated Press, All rights reserved.