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

To: lorne who wrote (42206)	10/5/1999 5:31:00 PM
From: Zardoz	Respond to of 116837

Canada Needs North American Currency Union, Think Tank Says fraserinstitute.ca then a second opinion: cdhowe.org

To: lorne who wrote (42206)	10/5/1999 6:36:00 PM
From: lorne	Read Replies (2) \| Respond to of 116837

ANB SAYS NO GOLD SALES PLANNED FOR FORESEEABLE FUTURE Frankfurt--Oct 5--The Austrian National Bank (ANB) has no plans to sell gold for the foreseeable future, ANB board member Peter Zoellner said today. The remarks come after 15 European central banks agreed at the International Monetary Fund meeting September to sell 2,000 tonnes gold within the next 5 years. Zoellner also said the ANB currently holds 407 tonnes gold. (Story .13867) FULL: ASHANTI GOLDFIELDS, LONMIN PLC CONFIRM MERGER TALKS New York--Oct 5--Ashanti Goldfields Company Limited and Lonmin Plc confirmed that they are in merger talks. (Story .16797) ASHANTI GOLDFIELDS FACES MARGIN CALLS AFTER GOLD PRICE RISE Melbourne--Oct 5--Ashanti Goldfields Co. Ltd. said today that the recent huge rise in the price of gold has left it with an obligation to pay margin calls to its gold-hedging counterparties, but that it has entered an arrangement with its hedging partners for continuing support. On Frid ay, Ashanti said it had restructured 80% of its hedges to remove its sensitivity to the rising price. (Story .10362) PRU-BACHE: GOLD SALE MORATORIUM WILL BE MARKED BY "CHEATING" London--Oct 5--The current state of robust health in the gold market is merely a reprieve from an ultimately oversupplied market, according to a report by Ted Arnold, analyst at Pru-Bache. Arnold argued that the central banks who were signatories on last week's gold sales moratorium will remain "very overweight gold" and will "eventually cheat" on the agreement. (Story .17882) LME ANNOUNCES NEW SILVER WAREHOUSING LOCATION London--Oct 5--The LME has listed its first silver warehouse in New York. Republic National Bank of New York will join the other 4 warehouses in Singapore, London and Rotterdam as LME approved locations for silver. It is available to take deliveries with immediate effect. (Story .12858 CANADA INTERNATIONAL RESERVES-OVERVIEW Ottawa--Oct 5--Canada's international reserves rose US $523 million in September to a record US $26.236 billion, the Finance Department said today. Reserves a year earlier totaled US $19.543 billion. Canada did not intervene in the forex market during the month, but other official operations hiked reserves by $511 million. Canada sold 136,000 ounces of gold in the month, Finance said. (Story .4821) crbindex.com