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

To: lorne who wrote (72847)	7/5/2001 12:51:54 PM
From: lorne	Respond to of 116791

Canadian Government Sells No Gold In June Story Filed: Thursday, July 05, 2001 9:17 AM EST WINNIPEG, MB, Jul 05, 2001 (Resource News International via COMTEX) -- The Canadian government sold no gold from the country's international reserves in June, the Canadian Department of Finance reported July 5. As of June 30, national gold reserves stood at 1.2 million ounces. The gold in reserve was valued at US$315 million. Canada's total international reserves, which include US dollars, other foreign currencies, special drawing rights and a reserve position in the IMF, was US$33.015 billion on June 30, down from the US$33.261 billion a month earlier. At the same time last year, total reserves were US$30.160 billion. Resource News International library.northernlight.com

To: lorne who wrote (72847)	7/5/2001 1:48:57 PM
From: marek_wojna	Respond to of 116791

Thanks, Lorne. I'm bearish on gold short term. Doesn't mean I sold 1 ounce, or any of core holdings. I read so many reports on economy since 1998 and IMHO there no possible positive outcome. Dollar is off gold standard only 30 years, it could afford it as most of the world population was getting into their prime of human life. It served us maybe well, near future will show. I really don't have big expectation for my physical holdings taking into account I'm in Canada, raise in POG will be offset by higher CDN$. Derivatives built around gold, real estate, other assets scares me, the chance of masses demanding real stuff growing daily. Is no matter anymore if but when. It will be enough to set the bomb if only 20% of gold certificates decide to take delivery. The whole system is based on promises which are not punishable if broken.