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

To: lorne who wrote (60443)	11/2/2000 8:28:27 PM
From: lorne	Read Replies (1) \| Respond to of 116768

Where the heck is everyone :-) HM Government Gold Auction Programme: Announcement of Auction 31 October 2000 The Bank of England today announces the auction on behalf of Her Majesty's Treasury of approximately 25 tonnes of gold. The auction, which will be on a single, or uniform, price basis will take place on Tuesday 7 November 2000. A copy of the auction announcement notice published by the Bank of England is attached. Notes for Editors On 3 March 2000, HM Treasury announced that on behalf of HM Treasury, the Bank of England is to sell approximately 150 tonnes of gold from the Exchange Equalisation Account in a programme of six auctions of around 25 tonnes each in the financial year 2000/2001 on the terms and conditions set out in an Information Memorandum which was published on 3 March 2000. This is the fourth auction in the programme of six. The first three auctions were held on Tuesday 23 May, Wednesday 12 July and Tuesday 19 September 2000. It is intended that the remaining two auctions will be held on dates to be announced in January and March 2001. bankofengland.co.uk

To: lorne who wrote (60443)	11/2/2000 8:29:34 PM
From: tyc:>	Respond to of 116768

In answer to your question, everyone in Canada knows that a cheap Canadian dollar is good for export industries and for resource stocks whose products are denominated in US$. The current price of copper is US$.85, but that's $1.29 in Canadian funds. If the C$ climbs to parity and the price of copper stays at US$.85, the price in Canada will fall from $1.29 to $0.85. Do you think that Canadian copper miners should be hedging against this possibility by forward selling the US$ ?