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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (15325)	2/21/2002 1:01:19 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

Like OPEC = keep the price of gold up by agreeing to not sell more than 2,000 tons. <The 1999 agreement signed in Washington, soon after gold reserves had dropped by 30% in three years, limits the sale of gold by Euro Central banks to 400 tons and the total sales during the period covered by the agreement should not exceed 2.000 tons. Ernst Welteke, Bundesbank president, says the agreement is "delicate" because it lacks coordination that could lead to lower prices. > What a joke! They want to turn their gold into money and go shopping. They know it's useless sitting in a vault and might as well be out there doing something sensible. Mq