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

To: bobby beara who wrote (10576)	4/24/1998 4:45:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116764

Bobby in a perfect world, Europeans should apply for USA 52 state..and than negotiate with China..since the chance of that to happen (Bid may be taken in London not Vegas) are .. all we have to do is to calmly wait for a calamity that would surely bring greenback down..there is no rash to have a calamity I do not think..But it is coming.. Anglogold(ANGJ.J)eyes Euro cenbanks for gold relief 12:44 p.m. Apr 23, 1998 Eastern JOHANNESBURG, April 23 (Reuters) - South Africa's Anglogold Ltd said on Thursday central bank jitters are still overhanging bullion in 1998, but the world's biggest gold producer is looking to European central bankers for relief. Anglogold said negative sentiment toward gold had eased since early January, when the metal fell to a 12-year-low of $276 per ounce amid anxiety over further central bank gold sales. ''Although 1998 has seen some moderating of these rumours of central bank sales, the sentiment has not been entirely eliminated,'' Anglogold executive director of marketing Kelvin William said in an outlook which accompanied the company's March quarterly results. London gold fixed at $312.75 an ounce on Thursday, slightly lower than the morning fix of $314.60. ''Further good news now would certainly lift this price,'' William said, although he noted that two recent attempts to drive the price through $315 had failed. Anglogold is eyeing the final decision in May on the percentage of gold to be held in the reserves for the new European central bank. ''Although there are still pitfalls in the handling of the news on this subject from European central banks, there is reason to hope for a positive outcome for gold, and for an improvement of sentiment in the market,'' William said. In January, Anglogold and other world gold producers began lobbying European central bankers to end their ''damaging silence'' while speculators drove down the price of gold. The World Gold Council, which represents major world gold producers, was reported to have deployed high-profile help -- including former Canadian Prime Minister Brian Mulroney and former Bank of Canada Governor John Crow -- in a bid to sway central bankers. ''More work needs to be done in the medium to longer terms, but an important start has been made in changing the debate on this issue,'' William said. Anglogold shrugged off lower gold prices and reported a modest rise in profits for the quarter ended March 31. The profit gain was due mainly to stiff cost controls and a strong hedging programme. Anglogold is one of the biggest hedgers, forward sales of gold at higher prices, in South Africa's gold industry. ((Johannesburg newsroom 27 11 482 1003, newsroom+reuters.co.za)) ^REUTERS@ Copyright 1998 Reuters Limited.