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

To: Bobby Yellin who wrote (7672)	2/18/1998 9:27:00 AM
From: PaulM	Read Replies (1) \| Respond to of 116892

Bobby, there's no more smart money. Markets no longer seem to factor in risk. And at a time when things are very risky. I'm not sure why this is, but I think it's because the predominance of mutual fund money means that investment decisions are no longer made by those most directly affected.

To: Bobby Yellin who wrote (7672)	2/19/1998 7:54:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116892

Gold display highlights irony of rare yellow metal 10:30 p.m. Feb 18, 1998 Eastern LONDON, Feb 18 (Reuters) - The Bank of England is due on Friday to host an exhibition showing hundreds of gold bars in the shape of pigs, frogs and even plain old rectangular bricks intended to depict gold's past and present allure to mankind. Doughnut bars from Hong Kong, Japanese Yin Yang bars, Thai bas-relief bars and Indian ten tola bars will be among the 500 or so lumps of the precious metal on display during the three-month exhibition at Britain's central bank. ''There is an incredible variety of gold bars, the variety is staggering,'' John Keyworth, curator of the Bank of England museum, told Reuters ahead of the opening. ''People like gold because it's rare, because it's a beautiful metal. You can bury it in the ground and if you dig it up 100 years later it's untarnished,'' he said. Michael Barlerin of the industry-backed World Gold Council said the display was intended to bring home to the general public the mystique and history of gold. ''Everyone would like to hold some gold. People feel better if they hold some gold,'' said Barlerin, a self-confessed gold bug and holder himself of bullion coins and gold stocks. Bank of England Governor Eddie George, newly confirmed for a second, five-year term at the helm on Wednesday, is due formally to open the exhibition. His opening remarks at an exhibition to promote gold should be interesting. Last November, George told a European Parliament committee that he doubted gold would figure high on the list of reserve instruments chosen by the planned European Central Bank. ''I would be surprised if that decision involved holding large quantities of gold because whereas gold used to be seen as the most internationally usable and, in that sense, liquid asset in the central bank's portfolio it is now seen as actually at the bottom of the pile and the least liquid of the assets,'' he told Euro-MPs. And that is the problem for gold, which only last month hit 18-1/2-year lows on the back of sales by central banks and by gold miners themselves, which did for 1997's record demand. With gold last bid at $297.50/$298.00 an ounce after the close of European trade on Wednesday, the question is how much the more than one-million-dollars-worth of bars on display will be worth once the exhibition ends next May. ((Patrick Chalmers, London Newsroom +44 171 542 8057. london.commodities.desk+reuters.com))