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

To: menanna who wrote (12771)6/9/1998 12:17:00 PM
From: Richard Mazzarella  Read Replies (1) | Respond to of 116815
 
Anna, the market always finds a reason to satisfy the chart. <VBG> Just heard that someone said that Euro would only be backed by 15% gold. There's the reason, the chart needed to get back in control. Someone tomorrow will give another reason why everyone should own gold again. It's all a game, but at the end of the day, those holding metal will have something more substantial than discounted paper IMO.



To: menanna who wrote (12771)6/9/1998 12:22:00 PM
From: Henry Volquardsen  Read Replies (1) | Respond to of 116815
 
Any news on the Euro gold backing?

Wim Duisenberg, the President of the European Central Bank, said this morning that a decision had not yet been made, and need not be made yet, on what percentage of ECB reserves would be held in gold. He said, however, that the consensus among central bankers was that something in the range of 10 to 15%. There were rumours yesterday that the number might be as high as 25%.

Henry


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