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To: Bobby Yellin who wrote (33057)	5/3/1999 7:42:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 117072

Inflation alert, an industrial gas company raising prices. Industrial gases parrot economy, increased gas demand suggests other manufacturing companies are doing well and increasing production. Those increases must be passed on. This is the second price increase this year. biz.yahoo.com PS, while people attribute all sorts of reasons for POG movement, inflation is the only issue that can surely affect POG (and the S&P).

To: Bobby Yellin who wrote (33057)	5/3/1999 10:49:00 AM
From: Ironyman	Read Replies (1) \| Respond to of 117072

MD,,,,Actually the current elected power in India lost a confidence hearing by only one vote. The interesting part is that it was brought about because they fired an admiral. ...Upon a discussion with some of my Indian friends, It was mentioned that we see the "Cream of the crop" of Indian persons here in the USA. Regards, Eric Parde

To: Bobby Yellin who wrote (33057)	5/3/1999 10:57:00 AM
From: long-gone	Respond to of 117072

re: India gold buying <<(if true..what press release should we expect this time)>> None, or sell side will be talked about in great detail!

To: Bobby Yellin who wrote (33057)	5/3/1999 5:39:00 PM
From: Alex	Read Replies (3) \| Respond to of 117072

Manuel expects IMF to limit gold sales Johannesburg (Reuters) - Finance Minister Trevor Manuel said on Monday that he expected the International Monetary Fund (IMF) to limit proposed gold sales to avoid damaging an already weak bullion market. International policy makers agreed last week that the IMF should sell some of its 103 million ounce stockpile to finance lending programmes and debt relief to poor countries. "Dumping gold on the market now could destabilise the price and that would be disastrous for SA," Manuel said on public radio on Monday. However, after talks with IMF officials in Washington last week, Manuel said he was confident that the gold sales would be phased-in to minimise the impact on prices. "It's pretty clear that they will sell off in a way that maintains integrity of the price because the IMF is in fact sitting on a 103 million ounces and they would not like to see the rest diminished in value," Manuel said. The proposed sale of IMF gold into an already depressed market has raised fears that the move could threaten marginal mines and jobs. SA has urged the IMF to limit its gold sales to 250 000 ounces per month and extend them over as long a period as possible. At the IMF meetings last week, some ministers recommended the sale of five million ounces, while others argued for sales of 10 million ounces or more, potentially raising more than $2.82 billion. "Five million ounces phased correctly would not be disruptive. Obviously, gold producers would not want any sold, but we are facing . . . the horns of dilemma," Manuel said. "On the one hand, we are a gold producer and employ a number of people in this industry, on the other hand we need debt relief. Obviously, we would have wanted a different approach. We are not going to win that right now," he added. barney.co.za