Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ahda who wrote (53097)	5/22/2000 11:24:00 AM
From: Alex	Respond to of 116762

Switzerland sells nine more tons of gold Zrich - Switzerland's central bank has sold another 8.9 tons of gold, bringing the total since sales started at the beginning of May to 15.4 tons, figures released on Monday showed. The Swiss National Bank has said it plans to put a maximum of 120 tons on the market by the end of September. The bank initiated the sale May 1, when Switzerland's new currency and payment law came into effect. The bank said Monday its gold reserves fell 136.6 million Swiss francs ($79m) to 39.41bn francs ($22.8bn) in the 10-day period ending May 19. Based on its valuation of gold at 15,291 francs ($8 840) a kilo, the central bank has sold some 8.9 tons in the latest 10-day period. The government plans to use 1 300 tons of gold - half of the Swiss National Bank's 2 600 tons of reserves - to underpin the Swiss franc, and has designated the other 1 300 tons as surplus. Officials have promised that Switzerland will conduct its sales gradually, without disrupting the gold market. The sale is to be staggered over several years. In a referendum in April last year, Swiss voters approved a new constitution which ended the traditional requirement for the Swiss franc to be backed by gold. news.24.com

To: Ahda who wrote (53097)	5/22/2000 12:12:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116762

Here we go?