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

To: long-gone who wrote (52573)	5/11/2000 7:49:00 AM
From: lorne	Respond to of 116832

SWISS GOLD:SNB revalues gold reserves upwards by 27.6 bln Sfr Zurich--May 11--The Swiss National Bank Thursday announced the revaluation of its 2,600 tonnes of gold reserves upwards by 27.6 billion Swiss francs. The revaluation on May 1 was done using the April 28 market rate of 15,291 francs per kilo. The SNB said it will revalue its gold on a quarterly basis, with the next calculation June 30. Since May 1, the SNB may legally sell part of its gold reserves but the bank did not reveal how much had been sold so far. (Story .13674 Credit Suisse First Boston to take seat on London gold fix New York--May 10--Credit Suisse First Boston said that it will become a member of the London Gold Market Fixing Ltd. and take a seat on the London gold fixing in June. It will take up the fixing seat that was made available as a result of the merger of HSBC and Republic National Bank of NY. Under the rules, each member is only permitted to own one fixing seat. (Story .22946) CSFB exec sees gold fix relevant benchmark in e-commerce world New York--May 10--Credit Suisse First Boston managing director Simon Ford said that he sees the London gold fix as a relevant benchmark in an e-commerce world. Speaking to Bridge as CSFB announced Wednesday it was taking a seat on the London gold fixing in June, he said it is "a n important credible benchmark that will remain so regardless of the condui t through which it is used." (Story .23851) LME to develop electronic trading system for outside hours use London--May 10--The board of the London Metal Exchange said Wednesday it plans to radically change the future of the Exchange through the development of an electronic trading system for use outside of ring trading times. It also plans to restructure "to give the board the opportunity to concentrate on more strategic matters," with the Exchange b ecoming a shareholding entity. Final details of the proposals have been delegated to a committee to be chaired by LME chairman The Lord Bagri, CBE. (Story .16927) crbindex.com