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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (16627)	12/21/2002 5:18:12 AM
From: sea_urchin	Read Replies (1) \| Respond to of 82007

long-gone >If the S. A. Government would start making a bit of noise gold would have a better chance I suppose so. At the moment, however, the rand has appreciated about 30% after its crack at the end of last year and the SA gov is thus very happy about the economic condition of the country even though the strong rand will have a impact on all exports. I do agree, though, that there's something very strange about Deutsche Bank and gold and also the German CB and gold. Furthermore, I understand Deutsche Bank was one of the big short sellers of the rand last year and this year I was told it's one of the big buyers, so who knows? >Aren't most parts of those cars still made in Germany? I don't know the details but, from the little we are told, I understand that SA is a big producer of German cars. Reason is because the rand is so cheap and therefore cars which are made here can penetrate most markets. However, now that the rand has appreciated such a lot I don't know if the same situation pertains. For what it's worth, since you are interested in factors affecting the gold price, the recent rand strength impacts heavily on the SA gold price and therefore on the profitability of SA gold mines. I am sure this has a much greater negative effect on SA gold production etc than whatever Deutsche Bank is doing. Of course, many would be pleased if SA gold production fell because that would tend to drive the dollar gold price up, or so we are told by those who are frequently forecasting revolution and other forms of anarchy in SA.