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

To: John Hunt who wrote (33705)	5/12/1999 8:40:00 AM
From: lorne	Read Replies (2) \| Respond to of 116764

San Francisco--May 11--The UK Treasury's recent announcement that it will sell over half of its gold reserves is a psychological setback, but from a supply/demand point of view is a "non-event," Homestake CEO and Chairman Jack Thompson said. The UK is believed to be one of the biggest central bank gold lenders so its announced sale will not have much impact on the physical market because the gold is essentially already in the market, he said. At this stage the problem for the gold market is "not so much central bank sales but central lending," he cautioned. By Cristine Denver, Bridge News, Story .24771 San Francisco--May 11--The gold industry is looking at a cooperative study of central bank gold sales in an effort to try to find a better way to manage those sales, Homestake Mining Co. CEO Jack Thompson told Bridge News today. The industry is looking for an academic to study the issue, and is seeking ways to minimize the uncertainty that has had such a negative influence on the world gold market, he said. By Cristine Denver, Bridge News, Story .25496 New York--May 11--In a letter to US Treasury Secretary Robert Rubin, 4 US senators voiced their continued opposition to the proposal to sell IMF gold to help poor countries. They said such a sale would hurt not only the very countries it wants to help, but also the US, because both are gold producers. Instead, the IMF should consider changing its rules to offer gold security to be offered on loans, or rely on its credit-worthiness to underwrite bond issues, they said. By Bridge News, Story .21462 Johannesburg--May 12--South Africa's National Union of Mineworkers (NUM) has called on South Africa's mining employers to approach the British government about formulating a structured 5-year plan so that it can sell gold without adversely affecting the world gold market, Business Day reports. This emerged at a gold crisis committee meeting on Tuesday where market reaction to the Bank of England's plan to sell off 415 tonnes of its 715-tonne gold reserves over 5 years was discussed. By I-Net Bridge, Story .12900 crbindex.com Good morning John.

To: John Hunt who wrote (33705)	5/12/1999 8:47:00 AM
From: Bobby Yellin	Read Replies (3) \| Respond to of 116764

I figure God knows what God is doing..and it works.. right John..I am too sensitive.. sometimes it is a plus and sometimes a big negative.. ps I have a very weird sense of humor also.. but currently I thinkBill needs all the positive help he can get..we don't want anything taken out of context.. ps how do you think the trade deficit will be unwound.. to me..trade deficit is the biggest plus for gold right now.. because internal debt is one thing.. but how many countries are furious with the US currently?