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

To: long-gone who wrote (30426)	3/22/1999 4:34:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116790

Those conspirators, who are holding down the price of gold may leak information that the custodians of the pagoda are planning to lease gold using the infrastructure of the property as collateral. That should take the wheels off the next gold rally. For every reason you guys can dig up of why gold is approaching an imminent rally, the conspirators will come up with a new rumor of imminent sales of gold to cause the rally to crash and burn. Ken

To: long-gone who wrote (30426)	3/22/1999 9:49:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116790

Dresdner sees no reason for strong gold price dip 07:25 a.m. Mar 22, 1999 Eastern FRANKFURT, March 22 (Reuters) - Gold prices are likely to absorb some sales of International Monetary Fund (IMF) reserves, Dresdner Kleinwort Benson said in a market report on Monday, but added there was no justification for''massive'' price falls. Bundesbank president Hans Tietmeyer last Friday made no commitment to gold sales by the IMF. But he said that discussions were still going on, which the market interpreted as a cautious signal that such sales -- to fund debt relief for the world's poorer countries -- were looking inevitable. Dresdner said recent gold price falls were an exaggerated reaction to the IMF discussion and a recovery was likely, especially if the IMF sales volumes turned out to be low. ''The market has been able to absorb significantly higher volumes of central bank sales in recent years, which were mostly unknown beforehand and thus created additional uncertainty,'' it argued. Dresdner did not offer its own estimate of possible IMF sales, which London analysts think may be worth no more than $1.5 billion to $3.0 billion. Dresdner also said that central bank sales were not very likely to be happening in the near future so that incoming new supplies to the market looked no larger than in recent years. But European physical gold demand was slack, unlike conditions in Asia, where regional demand lent support. The report pegged nearby gold price support at $281.75 per ounce and overhead resistence at $285.00. ((Vera Eckert, Hamburg newsroom, +49-40-41903275)) Copyright 1999 Reuters Limited.