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

To: lorne who wrote (33875)	5/14/1999 10:33:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116798

<<To: Richard Harmon (33868 ) From: lorne Friday, May 14 1999 9:33AM ET Reply # of 33888 Hi Richard. Not as eager and amount seems a bit less. IMF still eyes modest gold sales--senior official MACAU, May 14 (Reuters) - The IMF still plans to sell a moderate amount of gold to help pay for debt relief for poor nations despite Britain's decision to dispose of a large share of its gold reserves, a senior IMF official said on Friday. IMF Deputy Managing Director Shigemitsu Sugisaki said in a Reuters interview there was an emerging consensus among members of the International Monetary Fund that a gold sale should occur. "But it would be a very modest amount that we would be selling, so it shouldn't be much of a problem for the gold market," he said. "Our plan is to sell a moderate amount, about five million ounces." Sugisaki said he expected a decision to be made on the gold sales before the IMF's next annual meeting in the autumn. >> And why (as if I need ask) did they "break" this "news" today - without mention that Congress must FIRST approve ANY sale?