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

To: Gary H who wrote (9492)	4/6/1998 7:27:00 PM
From: paul ross	Respond to of 116790

According to the article from the WSJ (via Kitco) linked below, the 11 countries set to enter the EMU have a combined 23% of their reserves in gold. If 30% is to be the magic number, looks like some of them have some buying to do. If Germany, France, Italy had in mind 30%, why weren't the smaller CB's cautioned against selling, like Belgium who just sold recently and currently has only about 10% of its reserves in gold. Would make you think maybe closer to 10% is what will end up happening. However, maybe the makeup of EMU reserves, only a part of each CB's reserves, will not be weighted equally with what each CB will have left after their respective contributions, in which case they would have more gold on reserve w/EMU as a percentage of their total reserves than remaining in their individual CB. If this is the case, then new purchases may not have to happen in the event of a 30 % gold reserve. Anyone any insite on this? kitcomm.com PR