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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?


To: gold$10k who wrote (60156)7/1/2008 9:48:23 AM
From: TheSlowLane  Respond to of 78419
 
All their selling and yet $846 held. Nice...

ECB vows to keep gold prices stable
July 1, 2008

Frankfurt - The European Central Bank said on Tuesday that it had recently sold 30 tonnes of gold, on top of 42 tonnes sold in late 2007 under a central bank agreement.

While the ECB did not provide financial details of the sale, with gold prices at around $917 an ounce, the latest sale would have a value on the order of $950 million (R7.43 billion).

The sales, which were completed on Monday, conformed to the Central Banks' Gold Agreement of September 27 2005, which limits gold sales to 500 tonnes per year during the period between 2004 and 2009.



To: gold$10k who wrote (60156)7/1/2008 8:29:00 PM
From: rubbersoul  Read Replies (1) | Respond to of 78419
 
What if the ECB holds and doesn't cut rates? Will the dollar rally a bit? Maybe gold will come down a bit then begin to move up against all currencies in a more dramatic fashion once people realize that interest rates aren't keeping up with inflation? Just musings.....