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To: hunchback who wrote (32066)	4/18/1999 4:11:00 PM
From: goldsnow	Respond to of 116769

Sell on rumor by on news :) In a surprisingly close vote, the new constitution carried 10:09 a.m. Apr 18, 1999 Eastern By abolishing the gold standard, the new constitution helps clear the way for Swiss officials to move ahead with plans to sell off 1,300 tonnes of gold that is no longer necessary for conducting monetary policy. The Swiss National Bank has said gold sales would be timed to avoid disrupting the market, already made nervous by official gold sales elsewhere. The central bank will also continue to hold some of its reserves in gold. Until recently, most political analysts had believed the new constitution would pass easily. But a late opposition campaign by the far right and left boosted the 'No' vote. The idea of gold sales was not controversial among Swiss. Copyright 1999 Reuters Limited.