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

To: Bill Jackson who wrote (18811)	9/14/1998 8:36:00 AM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116753

o/t my goodness..he tried to help you out on Pacific Rim thread when if I remember correctly you were one of the loudest drum beaters..can't remember if you threw around such numbers as 40 dollars as your projection.. Charters made a lot of enemies on that thread when he tried to warn the lemmings..he has made a lot of enemies when actually he was much more of a friend to people's wallets.. it didn't bother when I was trashed..I can take care of myself charters can also take care of himself.. but the lemmings..that is what bothered me..Charters was trying to protect them..everybody on that thread who disagreed with the drumbeaters tended also to get trashed trashed and trashed... I personally watch out for people who sound like authorities

To: Bill Jackson who wrote (18811)	9/14/1998 8:44:00 AM
From: Giraffe	Read Replies (3) \| Respond to of 116753

Interesting that this story re-emerges just as gold starts another strong move. Who is Gold Fields Mineral Services? They seem to be the source for a number of strongly negative stories in the past few weeks. Central banks predicted to sell more gold By Kenneth Gooding in London Central banks, whose gold sales have been widely blamed for helping to drive down the price in August to the lowest level for 18 years, are set to report that they have sold at least another 260 tonnes. This prediction comes from the Gold Fields Mineral Services consultancy, widely believed to have some of the best contacts in the business. The 260 tonnes, or 8.36m troy ounces, has a market value of about $2.4bn and is equivalent to about 10 per cent of global mine production. GFMS suggests in its latest review that 88 tonnes (2.8m ounces) of gold flowed from central bank reserves in the first half of this year. "Early indications suggest that central bank sales will pick up in the second half," said Philip Klapwijk, managing director of GFMS. "Our information is that there has been a certain amount of forward market activity and we would expect sales to continue." In recent years, Argentina, Belgium, Canada and the Netherlands have reported central bank gold sales. When Australia, one of the world's big producers, announced in July last year it had sold 167 tonnes (5.4m ounces), the gold price dropped to a 12-year low. Last week, Luxembourg's central bank admitted it had sold most of its gold, estimated by Mr Klapwijk to be 11 tonnes. The Czech National Bank revealed on Friday it had taken advantage of a rising price to sell 31 tonnes from its reserves. "The [Czech] tonnage is pretty small and is unlikely to have a disastrous effect on prices," said Kamal Naqvi, analyst at Macquarie, the Australian bank. "The concern now is that there may be other emerging countries that may sell gold." The price did not react to the two central bank announcements because uncertainty in the financial markets caused gold to rise during the week by $13 an ounce, or 4.5 per cent, to $293 at the close in London on Friday. This was well clear of the 18-year low of $278.50 an ounce on August 28. Financial Times