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

To: lorne who wrote (44417)	11/1/1999 10:15:00 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 116759

NAPM continues its rise. Canadian dollar is strongest currency (today)

To: lorne who wrote (44417)	11/1/1999 1:15:00 PM
From: Alex	Respond to of 116759

Bank denies suggestions it manipulated gold price by PATRICK HOSKING The Bank of England today brushed aside suggestions that it had been manipulating the gold market. 'The Bank is doing nothing unusual or out of the ordinary in its gold leasing operations,' a spokesman said in response to allegations in the letters pages of the Financial Times. He pointed out that the Bank was a signatory to the September central bankers' gold pact, which put a lid on disposals and expressly ruled out the expansion of gold leasing. Nor did the Bank deal in the gold futures and options market, he added. Three small gold mining firms challenged the Bank in the FT to disclose its gold market operations. While stopping short of a direct accusation, they claimed that widespread stories in the market pointed to 'official efforts to affect the price in order to rescue the follies of one group or another'. The aggrieved miners - Peter Hambro of Mines d'Or de Salsigne, Chris von Christierson of Rio Narcea Gold Mines and John Morris of Gold Mines of Sardinia - said the alleged intervention damaged their employees and shareholders. Gold fell below $290 in the US today, down more than $9 from Friday's close. ¸ Associated Newspapers Ltd., 01 November 1999 thisislondon.co.uk