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

To: Zardoz who wrote (22859)	11/11/1998 2:42:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116789

Hutch - let's put it another way - if the Bank of Canada announced that during the previous month it had bought 300,000 ounces of gold and planned to continue with a regular buying program - don't you think it would give a signal to the world that it was serious about defending its currency? This is something that can't be proved of course, and is hypothetical - because our turkeys would never do it (an admission of the error of their ways) - but IMO it would lead to a firming of our currency. As to your other point - of course I'm thinking of the $US - millions of Canadians feel the effect of our weak currency every time they contemplate a visit south. Swapping $US for gold would be the easiest way to give a different signal to the world, and might be a key factor in a general turn around for the metal - not so much as a confirmation that the Japanese and Chinese are indeed buying, but a key boost all the same. E