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

To: Bobby Yellin who wrote (41103)	9/27/1999 1:33:00 PM
From: Alex	Read Replies (2) \| Respond to of 116791

Danish Finance Minister Says Denmark Has No Plans to Sell Gold <Picture> Sep. 27-MAR-- [B] Danish finance minister says Denmark has no plans to sell gold By Chris Davison, Bridge News Washington--Sep 27--Denmark, one of the European central banks conspicuous by its absence from Sunday's signatories to a statement by 15 banks announcing a gold-sale moratorium, has "no plans to sell any" of its gold reserves, Danish Finance Minister Marianne Jelved told Bridge News today. * * * Jelved said she had not heard anything about the gold announcement but, after checking with National Bank of Denmark Governor Bodil Nyboe Andersen, said her country's policy had not changed and there were still no plans to offload any of its 67 tonnes of reserves. The European Central Bank, 13 EU central banks and the Swiss National Bank all signed the accord to cap their gold sales at 2,000 tonnes over the next 5 years, including the 415 tonnes already announced by the Bank of England and the 1,300 tonnes planned for sale by the Swiss. The only EU central banks not to subscribe were the Danish and the Greek, both of which have been rumored as potential sellers in recent months. The price of gold jumped on Sunday's announcement, which accounted for roughly 70% of the world's official gold reserves. Other major gold holders like the US, Japan and the International Monetary Fund have also consistently indicated they have no sale plans. ECB President Wim Duisenberg said the moratorium was designed to stabilize the gold market, which has been wobbling for months on suspicions that other central banks were going to follow the lead of the Bank of England by selling gold. End Bridge News Send comments to Internet address: metals@bridge.com The Bridge ID for this story is ZRRRTF (c) Copyright 1999 FWN futuresource.com