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

To: long-gone who wrote (30906)	3/31/1999 12:21:00 AM
From: PaulM	Read Replies (6) \| Respond to of 116972

CB Gold Sales Unlikely biz.yahoo.com It really does amaze me how anyone can fail to see the obviously imbalanced nature of the market. The price was driven down to these levels 17 months ago, when I first took an interest in this thread. At the time, it was because as much as 11500 tonnes of "surplus" gold would be hitting the market from the ECB in 1999. Remember all the hullabaloo about whether the ECB gold holdings would 5%, 10% of reserves? Now those 11500 tonnes have all but disappeared. Effect on price? Zero. Historically, the last time in the IMF/U.S. was talking gold sales, with similar fanfare, was during a time when the the U.S. was trying in vain to extend a period of relatively low inflation, prosperity and dollar strength. I see no reason why the result should be different this time around.