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

To: GST who wrote (51021)	4/1/2000 9:44:00 PM
From: baystock	Read Replies (1) \| Respond to of 116763

Reuters ( April 01 ) Sydney: In a shock announcement the BOJ Governor, Mr Yasuo Fukuyu, has stated that the BOJ will sell its entire gold holdings of 3000 tonnes in April to support the Japanese banking system. "It is just not fair to use Japanese Postal Savings to support the Japanese banking system," stated Mr. Fukuyu. "The ordinary Japanese worker is going without sushi and sake as a personal sacrifice for his country. We intend to remedy this situation by selling all of our gold and adding the proceeds to the banking sector's statutory reserves. We expect this to have a positive influence on the Yen." Bank of England analyst, Mr. Adam Smith, expects the price of gold to be decimated in European and US trading on Monday. "We expect at least a $50 to $100 drop in the price of gold on Monday, but believe it will then stabilize at around $200 per ounce. In a six month time frame we are looking at $150 to $200 per ounce for the yellow metal, said Mr. Smith." "We expect that it may recover to the $250 range by December 2000. All North American, Australian and South African gold shares will most likely go to one half or less of present levels. " In a related development the chairman of Barrick Gold Corporation declared that ABX will close down all gold mining operations until the price of gold recovers. "We have received a generous offer from Microsoft Chairman, Mr. Bill Gates, to take a second mortgage over all ABX assets until we can struggle through our debt problems, he stated". "ABX shareholders will not miss out as we are arranging a share swap with Microsoft in the ratio of twenty ABX shares for one in Microsoft. With 30% gains per annum for each new share, we expect ABX shareholders to be extremely pleased with this generous offer." When asked to comment Mr Gates replied, "I think everyone should carefully examine the date of the announcement." Full story and links: junior.apk.net