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

To: lorne who wrote (5985)	1/15/1998 5:39:00 PM
From: lorne	Respond to of 116958

Gold Campaign Hits Snags Due To Lack Of Experts Korea, January 15,1998 The campaign of banks and conglomerates to buy or collect gold by donations in an effort to boost foreign currency earnings has hit a couple of major snags, it was learned Monday. Firstly many say that the banks' actions is one of the reasons behind the recent dramatic fall in international gold prices, which has reduced the income they can generate. Secondly and perhaps more seriously, the six organizations (three banks and three companies) participating urgently need to find around 3,000 gold experts to analyze and appraise the gold thus far collected, while there are only 2,000 nationwide. As a result they are scaling back the schedule and scope of the campaign. Korea Exchange Bank had planned to collect contributions in 398 branches, but has dramatically reduced this to 66. An official of the bank said that these branches had managed to call upon 90 experts for help. The Agricultural Banking Cooperative announced that it has succeeded in getting part time help from appraisal experts and that branch managers will visit jewellery stores in a bid to seek assistance.