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

To: IngotWeTrust who wrote (10177)	4/19/1998 3:42:00 AM
From: Alex	Read Replies (2) \| Respond to of 116815

R. Guy of NM Rothschild's suggests launch of gold euro coin.................. PRECIOUS METALS Gold 367/1998 Gold's share of total reserves will drop C Volschenk The Star Business Report, 14 Apr 1998, p 1, Business Day, 15 Apr 1998, p 3 The Reserve Bank of South Africa will keep the level of gold reserves constant at 4 million ounces, which will result in a drop in gold's percentage of the reserves as these increase. In doing this, the Reserve Bank is merely following the trend set by central banks worldwide to scale down the gold content of their reserves. Gold reserves reached a high of around 7 million oz in December 1992, before falling steadily to below 4 million oz in 1996. They have fluctuated around that level ever since, although the value of the reserves has more than doubled in the past year. In rand terms, gold's share of total reserves dropped from 66% in 1992 to 19% in March 1998, and looks to drop further in the coming months. The Reserve Bank is both a buyer and seller of gold, in contrast to other central banks, which are mostly sellers of gold. 368/1998 ECB gold reserve levels not key to market: GNI Platt's Metals Week, 13 Apr 1998, p 14 Analysts at GNI Commodities say that the amount of gold bullion the European Central Bank eventually decides to hold in its reserves is not a key to the future of the gold market. A large number of central bankers have already indicated that gold no longer has a major role to play in the monetary system, and the creation of the ECB is unlikely to change their minds. According to GNI, a key decision to be made by the ECB is the level of national autonomy that central banks will have in conducting transactions without informing the ECB. If only a small degree of autonomy is permitted, future gold sales would have to be authorised by the ECB. R Guy of NM Rothschild says the ECB and its national banks should privatise the management of their gold reserves and launch a gold euro coin, as the lack of transparency, sudden unexpected sales and the absence of a strategic policy are devaluing their gold reserves. He advocates all gold sales being conducted through the ECB. Despite an announcement by the German Bundesbank that bullion will play only a minor role in the formation of the ECB, nervousness about European central bank sales appears to be abating, and dealers say a new floor price of $300/oz has been established.

To: IngotWeTrust who wrote (10177)	4/19/1998 6:00:00 PM
From: Gary H	Respond to of 116815

Probably that's the name of the device, but What I was looking for was the name of the company that does the survey. Thanks anyway ole49r. I'll keep lookin. Cheers,